Trex Wind Down (Trex Wind Down) Beneish M-Score : 0.00 (As of Jun. 02, 2024)

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

During the past 3 years, the highest Beneish M-Score of Trex Wind Down was -7.89. The lowest was -7.89. And the median was -7.89.

Trex Wind Down Beneish M-Score Historical Data

The historical data trend for Trex Wind Down'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.

Trex Wind Down Beneish M-Score Chart

Trex Wind Down Annual Data

Trend

Dec20

Dec21

Dec22

Beneish M-Score

Trex Wind Down Quarterly Data
	Apr19	Apr20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Beneish M-Score	Get a 7-Day Free Trial									-7.89	-	-	-	-

Competitive Comparison of Trex Wind Down's Beneish M-Score

For the Biotechnology subindustry, Trex Wind Down'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.

Trex Wind Down's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Trex Wind Down's Beneish M-Score distribution charts can be found below:

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

Trex Wind Down 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 Trex Wind Down 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 (Jun23) TTM:

Last Year (Jun22) 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 $2.79 Mil.
Total Assets was $3.33 Mil.
Property, Plant and Equipment(Net PPE) was $0.39 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.34 Mil.
Selling, General, & Admin. Expense(SGA) was $5.81 Mil.
Total Current Liabilities was $5.63 Mil.
Long-Term Debt & Capital Lease Obligation was $0.32 Mil.
Net Income was -4.063 + -4.061 + -3.623 + -3.187 = $-14.93 Mil.
Non Operating Income was -0.171 + 0.002 + 0.009 + 0.011 = $-0.15 Mil.
Cash Flow from Operations was -2.656 + -3.903 + -3.194 + -4.132 = $-13.89 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0.042 = $0.04 Mil.
Gross Profit was 0 + 0 + 0 + 0.042 = $0.04 Mil.
Total Current Assets was $9.28 Mil.
Total Assets was $9.91 Mil.
Property, Plant and Equipment(Net PPE) was $0.50 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.30 Mil.
Selling, General, & Admin. Expense(SGA) was $5.98 Mil.
Total Current Liabilities was $6.57 Mil.
Long-Term Debt & Capital Lease Obligation was $0.16 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 / 0.042)
	=		/	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)
	=	(0.042 / 0.042)	/	(0 / 0)
	=	1	/
	=

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 - (2.791 + 0.39) / 3.326)	/	(1 - (9.279 + 0.504) / 9.91)
	=	0.043596	/	0.012815
	=

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	/	0.042
	=

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))
	=	(0.304 / (0.304 + 0.504))	/	(0.344 / (0.344 + 0.39))
	=	0.376238	/	0.468665
	=

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)
	=	(5.807 / 0)	/	(5.98 / 0.042)
	=		/	142.380952
	=

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)
	=	((0.323 + 5.625) / 3.326)	/	((0.164 + 6.572) / 9.91)
	=	1.788334	/	0.679717
	=

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
	=	(-14.934 - -0.149	-	-13.885)	/	3.326
	=	-0.270595

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.

Trex Wind Down Beneish M-Score Related Terms

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Trex Wind Down (Trex Wind Down) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Trex Wind Down Inc (OTCPK:TMBRQ) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

3 Mountain View Road, Suite 100, Warren, NJ, USA, 07059

Website

https://www.timberpharma.com

Timber Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases. Its investigational therapies have mechanisms of action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing, and control) and safety profiles. The company is focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), X-linked recessive CI (XLRI) and autosomal recessive CI (ARCI), and other sclerotic skin diseases. The company's late-stage program is TMB-001., and TMB-003 is the earliest-stage program.

Executives

John Koconis	director, officer: Chief Executive Officer	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMILTON AVENUE, SUITE 100, CAMPBELL CA 95008
Alan Mendelsohn	officer: Chief Medical Officer	C/O TIMBER PHARMACEUTICALS, INC., 50 TICE BLVD., SUITE A26, WOODCLIFF LAKE NJ 07677
Edward J Sitar	director	39 FLAMING ARROW ROAD, MAHWAH NJ 07430
Tardimed Sciences Llc	10 percent owner	303 SOUTH BROADWAY, SUITE 125, TARRYTOWN NY 10591
David E Cohen	director	3160 PORTER DRIVE, PALO ALTO CA 94304
Lubor Gaal	director	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMILTON AVENUE, SUITE 100, CAMPBELL CA 95008
Kimberly Bragg	officer: Controller	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMILTON AVENUE, SUITE 100, CAMPBELL CA 95008
Amir Tavakkol	officer: Chief Scientific Officer	C/O VIAMET PHARMACEUTICALS HOLDINGS LLC, 4505 EMPEROR BLVD., SUITE 300, DURHAM NC 27703
Michael Derby	director, officer: Executive Chairman	303 SOUTH BROADWAY, SUITE 125, TARRYTOWN NY 10591
Zachary Rome	director, officer: Executive VP, COO and Sec.	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMILTON AVENUE, SUITE 100, CAMPBELL CA 95008
Joseph Lucchese	officer: Executive VP & CFO	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMILTON AVENUE, SUITE 100, CAMPBELL CA 95008
Michael Stocum	director	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMILTON AVENUE, SUITE 100, CAMPBELL CA 95008
Linda A Broenniman	director	1895 PRESTON WHITE DR, STE 250, RESTON VA 20191
Gianluca Pirozzi	director	C/O TIMBER PHARMACEUTICALS, INC., 900 E. HAMITON AVENUE, SUITE 100, CAMPBELL CA 95008
Timber Pharmaceuticals Llc	10 percent owner	50 TICE BOULEVARD, SUITE A26, WOODCLIFF LAKE NJ 07677

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