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American Cordillera Mining Piotroski F-Score

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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

American Cordillera Mining has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for American Cordillera Mining's Piotroski F-Score or its related term are showing as below:


American Cordillera Mining Piotroski F-Score Historical Data

The historical data trend for American Cordillera Mining's Piotroski F-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.

American Cordillera Mining Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Nov13 Nov14
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

American Cordillera Mining Quarterly Data
Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 May13 Aug13 Nov13 Feb14 May14 Aug14 Nov14 Feb15 May15
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

How is the Piotroski F-Score calculated?

* 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.

This Year (May15) TTM:Last Year (May14) TTM:
Net Income was -0.018 + -0.409 + -0.003 + 0.014 = $-0.42 Mil.
Cash Flow from Operations was -0.006 + -0.051 + -0.005 + 0.005 = $-0.06 Mil.
Revenue was 0 + -0.03 + 0 + 0.05 = $0.02 Mil.
Gross Profit was -0.009 + -0.047 + 0 + 0.045 = $-0.01 Mil.
Average Total Assets from the begining of this year (May14)
to the end of this year (May15) was
(0.451 + 0.442 + 0.071 + 0.072 + 0.055) / 5 = $0.2182 Mil.
Total Assets at the begining of this year (May14) was $0.45 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.03 Mil.
Total Current Liabilities was $0.13 Mil.
Net Income was -0.021 + -0.054 + -0.002 + 0 = $-0.08 Mil.

Revenue was 0 + 0.03 + 0 + 0.04 = $0.07 Mil.
Gross Profit was 0 + -0.008 + 0 + 0.033 = $0.03 Mil.
Average Total Assets from the begining of last year (May13)
to the end of last year (May14) was
(0.499 + 0.607 + 0.482 + 0.504 + 0.451) / 5 = $0.5086 Mil.
Total Assets at the begining of last year (May13) was $0.50 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.16 Mil.
Total Current Liabilities was $0.11 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

American Cordillera Mining's current Net Income (TTM) was -0.42. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

American Cordillera Mining's current Cash Flow from Operations (TTM) was -0.06. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (May14)
=-0.416/0.451
=-0.92239468

ROA (Last Year)=Net Income/Total Assets (May13)
=-0.077/0.499
=-0.15430862

American Cordillera Mining's return on assets of this year was -0.92239468. American Cordillera Mining's return on assets of last year was -0.15430862. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

American Cordillera Mining's current Net Income (TTM) was -0.42. American Cordillera Mining's current Cash Flow from Operations (TTM) was -0.06. ==> -0.06 > -0.42 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: May15)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May14 to May15
=0/0.2182
=0

Gearing (Last Year: May14)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May13 to May14
=0/0.5086
=0

American Cordillera Mining's gearing of this year was 0. American Cordillera Mining's gearing of last year was 0. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: May15)=Total Current Assets/Total Current Liabilities
=0.034/0.128
=0.265625

Current Ratio (Last Year: May14)=Total Current Assets/Total Current Liabilities
=0.164/0.109
=1.50458716

American Cordillera Mining's current ratio of this year was 0.265625. American Cordillera Mining's current ratio of last year was 1.50458716. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

American Cordillera Mining's number of shares in issue this year was 89.883. American Cordillera Mining's number of shares in issue last year was 89.883. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=-0.011/0.02
=-0.55

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.025/0.07
=0.35714286

American Cordillera Mining's gross margin of this year was -0.55. American Cordillera Mining's gross margin of last year was 0.35714286. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (May14)
=0.02/0.451
=0.0443459

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (May13)
=0.07/0.499
=0.14028056

American Cordillera Mining's asset turnover of this year was 0.0443459. American Cordillera Mining's asset turnover of last year was 0.14028056. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+1+0+1+0+0
=3

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

American Cordillera Mining has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

American Cordillera Mining  (OTCPK:AUAG) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


American Cordillera Mining Piotroski F-Score Related Terms

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American Cordillera Mining Business Description

American Cordillera Mining logo
Traded in Other Exchanges
N/A
Address
American Cordillera Mining Corp was incorporated on July 23, 1996 under the laws of the State of Nevada. The company acquires, import, market, and sell valuable antiquity and art items of Asian origin. These items include things like furniture, works of art, antiques, glass works, porcelain, statues, pottery, sculptures and other collectibles and collector items that have their origin in the Far East. They acquire pieces through a number of reputable agents and wholesale distribution sources in Hong Kong and the People's Republic of China.
Executives
Wong Wah On director, officer: Secretary ROOM 2204 22F WEST TOWER SHUN TAK CENTER 200 CONNAUGHT ROAD CENTRAL SHEUNG WAN K3 -

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