Logiq (LGIQ) Beneish M-Score : 0.00 (As of May. 17, 2024)

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

During the past 13 years, the highest Beneish M-Score of Logiq was 1.57. The lowest was -2.88. And the median was -1.35.

Logiq Beneish M-Score Historical Data

The historical data trend for Logiq'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.

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Logiq Beneish M-Score Chart

Logiq Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.31

1.57

-2.88

Logiq Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Logiq's Beneish M-Score

For the Software - Application subindustry, Logiq'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.

Logiq's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Logiq's Beneish M-Score distribution charts can be found below:

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

Logiq 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 Logiq 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.48 Mil.
Revenue was -11.664 + 3.266 + 4.861 + 3.538 = $0.00 Mil.
Gross Profit was -0.873 + 0.058 + 0.53 + 0.285 = $0.00 Mil.
Total Current Assets was $0.65 Mil.
Total Assets was $0.65 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.36 Mil.
Selling, General, & Admin. Expense(SGA) was $16.05 Mil.
Total Current Liabilities was $1.04 Mil.
Long-Term Debt & Capital Lease Obligation was $0.01 Mil.
Net Income was -0.148 + -3.934 + -3.565 + -12.449 = $-20.10 Mil.
Non Operating Income was 0 + -0.046 + -0.046 + -0.04 = $-0.13 Mil.
Cash Flow from Operations was 0.994 + -2.707 + -3.205 + -13.02 = $-17.94 Mil.

Total Receivables was $0.19 Mil.
Revenue was -17.156 + 4.1 + 4.95 + 8.105 = $-0.00 Mil.
Gross Profit was -5.332 + 1.308 + 1.82 + 2.205 = $0.00 Mil.
Total Current Assets was $2.40 Mil.
Total Assets was $15.18 Mil.
Property, Plant and Equipment(Net PPE) was $0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.13 Mil.
Selling, General, & Admin. Expense(SGA) was $6.94 Mil.
Total Current Liabilities was $7.52 Mil.
Long-Term Debt & Capital Lease Obligation was $0.01 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)
	=	(0.482 / 0.001)	/	(0.19 / -0.001)
	=	482	/
	=

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)
	=	(0.001 / -0.001)	/	(0 / 0.001)
	=		/	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 - (0.651 + 0) / 0.651)	/	(1 - (2.402 + 0.085) / 15.184)
	=	0	/	0.836209
	=

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
	=	0.001	/	-0.001
	=

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))
	=	(0.126 / (0.126 + 0.085))	/	(0.363 / (0.363 + 0))
	=	0.597156	/	1
	=

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)
	=	(16.047 / 0.001)	/	(6.939 / -0.001)
	=	16047	/
	=

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)
	=	((0.01 + 1.042) / 0.651)	/	((0.01 + 7.52) / 15.184)
	=	1.615975	/	0.495917
	=

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
	=	(-20.096 - -0.132	-	-17.938)	/	0.651
	=	-3.112135

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.

Logiq Beneish M-Score Related Terms

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Logiq (LGIQ) Business Description

Industry

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N/A

Address

85 Broad Street, 16-079, New York, NY, USA, 10004

Website

https://www.logiq.com

Logiq Inc is a U.S.-based leading global provider of e-commerce and customer acquisition solutions by simplifying digital advertising. It provides data-driven, end-to-end marketing through its results solution or providing software to access data by activating campaigns across multiple channels.

Executives

Bordes Peter A Jr	director	C/O BEASLEY BROADCAST GROUP, INC., 3033 RIVIERA DRIVE, SUITE 200, NAPLES FL 34103
Christopher Andrews	officer: Chief Operating Officer	228 PARK AVENUE SOUTH, SUITE 72602, NEW YORK NY 10003
Brent Suen	director, officer: CEO, PRESIDENT	198 WELLINGTON STREET, 8/F THE WELLINGTON, CENTRAL, HONG KONG K3 00000
Tom Furukawa	officer: Chief Executive Officer	840 NEWPORT CENTER DRIVE, SUITE 450, NEWPORT BEACH CA 92660
John Francis Macneil	other: INSIDER	85 BROAD STREET, 16-079, NEW YORK X1 10004
Leanora Iannone Hickman	director	85 BROAD STREET, 16-079, NEW YORK NY 10004
Steven James Hartman	officer: Chief Product Officer	85 BROAD STREET, 16-079, NEW YORK NY 10004
Daniel Urbino	officer: Chief Operating Officer	85 BROAD STREET, 16-079, NEW YORK NY 10004
Joshua Jacobs	director	9917 LA TUNA CANYON ROAD, SUN VALLEY CA 91352
Matthew Brent	officer: Chief Strategy Officer	85 BROAD STREET, 16-079, NEW YORK NY 10004
Conversionpoint Technologies Inc.	10 percent owner	18400 VON KARMAN AVE, SUITE 1000, IRVINE CA 92612
Foong Eddie Wai Keong	director, officer: CHIEF PRODUCT OFFICER	85 BROAD STREET, 16-079, NEW YORK NY 10004
George Yu	officer: President & CEO	FLAT 4, 8/F, MAN YUEN BLDG., YAU MA TEI, KOWLOON K3 0000000
Shan Ming Gu	10 percent owner	#902, NO. 55, LANE 789, QINGHU ROAD, QINGPU DISTRICT, SHANGHAI F4 201700
Christopher Sean Metcalf	director, other: Chairman of the Board	815-A BRAZOS ST., #322, AUSTIN TX 78701