PureBase (PureBase) Beneish M-Score : 0.00 (As of May. 22, 2024)

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What is PureBase 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 PureBase's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of PureBase was -6.70. The lowest was -157.63. And the median was -16.73.

PureBase Beneish M-Score Historical Data

The historical data trend for PureBase'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.

PureBase Beneish M-Score Chart

PureBase Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

Beneish M-Score

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-47.50

PureBase Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-64.18	-47.50	-

Competitive Comparison of PureBase's Beneish M-Score

For the Agricultural Inputs subindustry, PureBase'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.

PureBase's Beneish M-Score Distribution in the Agriculture Industry

For the Agriculture industry and Basic Materials sector, PureBase's Beneish M-Score distribution charts can be found below:

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

PureBase 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 PureBase 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 (Feb24) TTM:

Last Year (Feb23) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0.207 + 0.066 = $0.27 Mil.
Gross Profit was 0 + -0.003 + 0.163 + 0.04 = $0.20 Mil.
Total Current Assets was $0.06 Mil.
Total Assets was $0.81 Mil.
Property, Plant and Equipment(Net PPE) was $0.75 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $3.51 Mil.
Total Current Liabilities was $1.78 Mil.
Long-Term Debt & Capital Lease Obligation was $0.10 Mil.
Net Income was -0.491 + -1.085 + -0.152 + -2.019 = $-3.75 Mil.
Non Operating Income was 0 + -0.618 + 0 + 0.275 = $-0.34 Mil.
Cash Flow from Operations was -0.675 + -0.224 + -0.215 + -0.398 = $-1.51 Mil.

Total Receivables was $0.05 Mil.
Revenue was 0.052 + 0.017 + 0.226 + 0.228 = $0.52 Mil.
Gross Profit was 0.03 + 0.01 + 0.192 + 0.14 = $0.37 Mil.
Total Current Assets was $0.08 Mil.
Total Assets was $0.77 Mil.
Property, Plant and Equipment(Net PPE) was $0.69 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $27.57 Mil.
Total Current Liabilities was $0.74 Mil.
Long-Term Debt & Capital Lease Obligation was $0.95 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 / 0.273)	/	(0.054 / 0.523)
	=	0	/	0.10325
	=

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)
	=	(0.372 / 0.523)	/	(0.2 / 0.273)
	=	0.711281	/	0.732601
	=

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 - (0.058 + 0.751) / 0.809)	/	(1 - (0.078 + 0.69) / 0.768)
	=	0	/	0
	=

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
	=	0.273	/	0.523
	=

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 / (0 + 0.69))	/	(0 / (0 + 0.751))
	=	0	/	0
	=

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)
	=	(3.508 / 0.273)	/	(27.57 / 0.523)
	=	12.849817	/	52.715105
	=

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)
	=	((0.103 + 1.784) / 0.809)	/	((0.95 + 0.736) / 0.768)
	=	2.332509	/	2.195313
	=

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
	=	(-3.747 - -0.343	-	-1.512)	/	0.809
	=	-2.33869

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.

PureBase Beneish M-Score Related Terms

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PureBase (PureBase) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Agriculture » PureBase Corp (OTCPK:PUBC) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

8631 State Highway, 124 lone, P.O. Box 757, Ione, CA, USA, 95640

Website

https://www.purebase.com

PureBase Corp is a diversified, industrial mineral and natural resource company. It provides new and improved, and environmentally sound solutions to a wide range of industries including cornerstone markets of agriculture and construction. The company focuses on the acquisition, development, mining developing, and marketing of natural mineral properties in California, Nevada, and the United States. It provides minerals such as silica sand, kaolin, bentonite, leonardite, potassium silicate sulfate, pozzolan, and limestone. Geographically all the business activity of the firm is operated through the region of the United States.

Executives

Bradford Charles Barto	director	2461 CRESTVIEW DRIVE, NEWPORT BEACH CA 92663
Jeffrey J Guzy	director	3130 19TH STREET, NORTH, ARLINGTON VA 22201
Kimberly Erin Kurtis	director	805 ADAIR AVE NE, ATLANTA GA 30306
Craig C Barto	10 percent owner	14761 BENTLEY CIRCLE, TUSTIN CA 92680
Michael Joseph Fay	officer: Chief Financial Officer	39270 PASEO PADRE PKWY, #459, FREMONT CA 94538
John A Bremer	director, 10 percent owner	10490 DAWSON CANYON ROAD, CORONA CA 92883
David Earl Jenkins	director	1110 W. MARLETTE STREET, IONE CA 95640
Thomas Michael Swett	director	3125 PETTY LANE, CARMICHAEL CA 95608
A Scott Dockter	director, 10 percent owner, officer: CEO	3090 BOEING ROAD, CAMERON PARK CA 95682
Alfred Joseph Calvanico	officer: CFO	8625 HIGHWAY 124, PO BOX 757, IONE CA 95640
Amy Clemens	officer: CFO & Secretary	1670 SIERRA AVENUE, STE. 402, YUBA CITY CA 95993
Calvin Lim	director	6580 HAVEN SIDE DRIVE, SACRAMENTO CA 95831
John Gingerich	director	237 WEDGEWOOD DRIVE, WOODSTOCK A6 N4T 0J1
Bay Street Capital Corp	10 percent owner	SEA MEADOW HOUSE, BLACKBURNE HIGHWAY, PO BOX 116, ROAD TOWN, TORTOLA D8 00000