Mitesco (Mitesco) Beneish M-Score : 0.00 (As of May. 26, 2024)

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

During the past 13 years, the highest Beneish M-Score of Mitesco was 7.18. The lowest was -13.33. And the median was -6.53.

Mitesco Beneish M-Score Historical Data

The historical data trend for Mitesco'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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Mitesco Beneish M-Score Chart

Mitesco Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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Mitesco 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 Mitesco's Beneish M-Score

For the Health Information Services subindustry, Mitesco'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.

Mitesco's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Mitesco's Beneish M-Score distribution charts can be found below:

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

Mitesco 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 Mitesco 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 + -0.006 = $-0.01 Mil.
Total Current Assets was $0.06 Mil.
Total Assets was $0.06 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $-0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $1.47 Mil.
Total Current Liabilities was $14.73 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 0.047 + 1.378 + -1.552 + -7.544 = $-7.67 Mil.
Non Operating Income was 0.233 + -0.032 + -1.03 + -6.521 = $-7.35 Mil.
Cash Flow from Operations was -0.154 + 0.086 + -0.328 + -0.483 = $-0.88 Mil.

Total Receivables was $0.01 Mil.
Revenue was 0 + 0 + 0 + 0.169 = $0.17 Mil.
Gross Profit was -0.002 + 0 + 0 + -0.437 = $-0.44 Mil.
Total Current Assets was $0.07 Mil.
Total Assets was $0.11 Mil.
Property, Plant and Equipment(Net PPE) was $0.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $-0.35 Mil.
Selling, General, & Admin. Expense(SGA) was $6.10 Mil.
Total Current Liabilities was $20.37 Mil.
Long-Term Debt & Capital Lease Obligation was $3.55 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)	/	(0.007 / 0.169)
	=		/	0.04142
	=

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)
	=	(-0.439 / 0.169)	/	(-0.006 / 0)
	=	-2.597633	/
	=

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 - (0.056 + 0) / 0.056)	/	(1 - (0.067 + 0.047) / 0.114)
	=	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	/	0.169
	=

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))
	=	(-0.347 / (-0.347 + 0.047))	/	(-0.011 / (-0.011 + 0))
	=	1.156667	/	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)
	=	(1.468 / 0)	/	(6.098 / 0.169)
	=		/	36.08284
	=

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 + 14.727) / 0.056)	/	((3.554 + 20.374) / 0.114)
	=	262.982143	/	209.894737
	=

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
	=	(-7.671 - -7.35	-	-0.879)	/	0.056
	=	9.964286

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.

Mitesco Beneish M-Score Related Terms

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Mitesco (Mitesco) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Mitesco Inc (OTCPK:MITI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

18202 Minnetonka Boulevard, Suite 100, Deephaven, MN, USA, 55391

Website

https://www.mitescoinc.com

Mitesco Inc is a development stage company who acquires and implements technologies and services to improve the quality of care, reduce cost, and enhance consumer convenience. It is focused on developing a portfolio of companies that provide healthcare technology solutions and the team is adept at deal structures supportive of long term organizational value.

Executives

Lonnie Allen Plunk	director	3525 PIEDMONT RD., NE, BUILDING 6, SUITE 700, ATLANTA GA 30305
Lawrence M. Diamond	director	7535 EAST HAMPDEN AVENUE, SUITE 400, DENVER CO 80231
Phillip J Keller	officer: Chief Financial Officer	2323 RING ROAD, ELIZABETHTOWN KY 42701
Sheila Schweitzer	director	1200 CAROLINA CIRCLE, VERO BEACH FL 62962
Ingrid Jenny Lindstrom	officer: Chief Legal Officer	1100 WILLS PLACE, GOLDEN VALLEY MN 55422
Juan Carlos Iturregui	director	5606 ALBIA RD., BETHESDA MD 20816
Faraz Naqvi	director	3001 HEARTHSTONE DRIVE, FORT COLLINS CO 80528
Thomas Brodmerkel	director	7535 EAST HAMPDEN AVENUE, STE. 400, DENVER CO 80231
Julie R. Smith	director	7535 EAST HAMPDEN AVENUE, SUITE 400, DENVER CO 80231
Ron Riewold	officer: CHAIRMAN	37 NORTH ORANGE AVE, STE 500, ORLANDO FL 32801
Douglas Cole	director	C/O AMERICAN BATTERY METALS CORP, 930 TAHOE BLVD, STE 802-16, INCLINE VILLAGE NV 89451
James Philip Crone	director, officer: Pres, Interim CFO, Sec, Dir	1355 PEACHTREE STREET, SUITE 1150, ATLANTA GA 30309
Morton James E Iii	officer: President	549 VIKINGS LANE, ATLANTIC BEACH FL 32233
Deluca Louis George Jr	officer: C.O.O.	194 EDWARDS DR, MABLETON GA 30126
Thomas W. Burnell	officer: President and CEO	1355 PEACHTREE STREET, SUITE 1150, ATLANTA GA 30309