The Coretec Group (The Coretec Group) Beneish M-Score : 0.00 (As of May. 28, 2024)

View and export this data going back to 2003. Start your Free Trial

What is The Coretec Group Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for The Coretec Group's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of The Coretec Group was 22.85. The lowest was -160.90. And the median was -72.25.

The Coretec Group Beneish M-Score Historical Data

The historical data trend for The Coretec Group's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

The Coretec Group Beneish M-Score Chart

The Coretec Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

The Coretec Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of The Coretec Group's Beneish M-Score

For the Computer Hardware subindustry, The Coretec Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

The Coretec Group's Beneish M-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, The Coretec Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where The Coretec Group's Beneish M-Score falls into.

The Coretec Group Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of The Coretec Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.20 Mil.
Total Assets was $1.28 Mil.
Property, Plant and Equipment(Net PPE) was $0.11 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $1.80 Mil.
Total Current Liabilities was $0.68 Mil.
Long-Term Debt & Capital Lease Obligation was $1.01 Mil.
Net Income was -0.524 + -0.869 + -0.457 + -0.474 = $-2.32 Mil.
Non Operating Income was 0.001 + 0.199 + 0.005 + 0.006 = $0.21 Mil.
Cash Flow from Operations was -0.362 + -0.604 + -0.41 + -0.422 = $-1.80 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $2.00 Mil.
Total Assets was $3.13 Mil.
Property, Plant and Equipment(Net PPE) was $0.07 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.09 Mil.
Selling, General, & Admin. Expense(SGA) was $2.05 Mil.
Total Current Liabilities was $0.44 Mil.
Long-Term Debt & Capital Lease Obligation was $1.36 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (0.203 + 0.106) / 1.283)	/	(1 - (2 + 0.071) / 3.128)
	=	0.759158	/	0.337916
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.092 / (0.092 + 0.071))	/	(0.097 / (0.097 + 0.106))
	=	0.564417	/	0.477833
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(1.803 / 0)	/	(2.047 / 0)
	=		/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((1.01 + 0.679) / 1.283)	/	((1.363 + 0.444) / 3.128)
	=	1.316446	/	0.577685
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-2.324 - 0.211	-	-1.798)	/	1.283
	=	-0.574435

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The Coretec Group Beneish M-Score Related Terms

Thank you for viewing the detailed overview of The Coretec Group's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

The Coretec Group (The Coretec Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » The Coretec Group Inc (OTCPK:CRTG) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

600 South Wagner Road, Ann Arbor, MI, USA, 48103

Website

https://www.thecoretecgroup.com

The Coretec Group Inc is technology company. The company is currently developing, testing, and providing new and/or improved technologies, products, and service solutions for energy-related industries including, but not limited to oil/gas, renewable energy, and distributed energy industries. Many of these technologies and products also have applications for medical, electronic, photonic, display, and lighting markets among others. The company's product portfolio includes Endurion, Coretec HexaSilane, CSpace, and other Technologies which are based on the production of silicon products.

Executives

Victor F Keen	director	C/O RESEARCH FRONTIERS INC., 240 CROSSWAYS PARK DRIVE, WOODBURY NY 11797
Simon Calton	director, 10 percent owner	C/O 3DICON CORPORATION, 505 BROADWAY, S. 208, FARGO ND 58102
Matthew Joseph Kappers	director, officer: Chief Executive Officer	C/O AMPLITECH GROUP, INC, 155 PLANT AVENUE, HAUPPAUGE NY 11788
Matthew Leo Hoffman	officer: Chief Financial Officer	333 JACKSON PLAZA, SUITE 1200, ANN ARBOR MI 48103
Michael Anthony Kraft	officer: Chief Executive Officer	3169 REDHILL AVENUE, COSTA MESA CA 92626
Dennis Keith Anderson	director, 10 percent owner	C/O 3DICON CORPORATION, 505 BROADWAY, S. 208, FARGO ND 58102
Ronald Dombrowski	director	C/O 3DICON CORPORATION, 505 BROADWAY, S. 208, FARGO ND 58102
Doug Freitag	director, officer: Chief Executive Officer	C/O 3DICON CORPORATION, 505 BROADWAY, S.208, FARGO ND 58102
Ronald Wayne Robinson	officer: Chief Financial Officer	6804 SOUTH CANTON AVENUE, SUITE 150, TULSA OK 74136
Anthony Martin Keating	director	7507 SOUTH SANDUSKY AVENUE, TULSA OK 74136
John Michael Oconnor	director	2828 E. 34, TULSA OK 74105
Chris Dunstan	officer: Chief Financial Officer
Sidney A Aroesty	director	DIAGNOSTIC PRODUCTS CORP, 5700 WEST 96TH STREET, LOS ANGELES CA 90045
Keating Judith Faye Snider	other: Corporate Secretary	7507 SOUTH SANDUSKY AVENUE, TULSA OK 74136
Mark G Willner	officer: Chief Executive Officer	543 MONROE STREET, DENVER CO 80206