ASP Isotopes (ASP Isotopes) Beneish M-Score : 0.00 (As of Jun. 20, 2024)

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

During the past 3 years, the highest Beneish M-Score of ASP Isotopes was 0.00. The lowest was 0.00. And the median was 0.00.

ASP Isotopes Beneish M-Score Historical Data

The historical data trend for ASP Isotopes'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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ASP Isotopes Beneish M-Score Chart

ASP Isotopes Annual Data

Trend

Dec21

Dec22

Dec23

Beneish M-Score

ASP Isotopes Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial					-	-	-	-	-

Competitive Comparison of ASP Isotopes's Beneish M-Score

For the Chemicals subindustry, ASP Isotopes'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.

ASP Isotopes's Beneish M-Score Distribution in the Chemicals Industry

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

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

ASP Isotopes 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 ASP Isotopes 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 $0.35 Mil.
Revenue was 0.84 + 0.433 + 0 + 0 = $1.27 Mil.
Gross Profit was 0.279 + 0.433 + 0 + 0 = $0.71 Mil.
Total Current Assets was $26.18 Mil.
Total Assets was $45.39 Mil.
Property, Plant and Equipment(Net PPE) was $15.84 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $17.78 Mil.
Total Current Liabilities was $7.33 Mil.
Long-Term Debt & Capital Lease Obligation was $23.32 Mil.
Net Income was -6.948 + -4.162 + -4.222 + -4.286 = $-19.62 Mil.
Non Operating Income was -1.196 + -0.039 + -0.279 + 0.06 = $-1.45 Mil.
Cash Flow from Operations was -2.97 + -2.057 + -0.653 + -1.257 = $-6.94 Mil.

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 $5.77 Mil.
Total Assets was $14.61 Mil.
Property, Plant and Equipment(Net PPE) was $8.70 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $6.78 Mil.
Total Current Liabilities was $2.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.70 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)
	=	(0.354 / 1.273)	/	(0 / 0)
	=	0.278083	/
	=

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 / 0)	/	(0.712 / 1.273)
	=		/	0.559309
	=

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 - (26.177 + 15.843) / 45.385)	/	(1 - (5.771 + 8.702) / 14.606)
	=	0.074143	/	0.009106
	=

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
	=	1.273	/	0
	=

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 + 8.702))	/	(0.103 / (0.103 + 15.843))
	=	0	/	0.006459
	=

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)
	=	(17.778 / 1.273)	/	(6.777 / 0)
	=	13.965436	/
	=

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)
	=	((23.316 + 7.332) / 45.385)	/	((0.698 + 1.996) / 14.606)
	=	0.675289	/	0.184445
	=

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
	=	(-19.618 - -1.454	-	-6.937)	/	45.385
	=	-0.247372

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.

ASP Isotopes Beneish M-Score Related Terms

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ASP Isotopes (ASP Isotopes) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » ASP Isotopes Inc (NAS:ASPI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

433 Plaza Real, Suite 275, Boca Raton, FL, USA, 33432

Website

https://www.aspisotopes.com

ASP Isotopes Inc is a pre-commercial stage advanced materials company dedicated to the development of technology and processes that, if successful, will allow for the production of isotopes that may be used in several industries. The company utilizes technology developed in South Africa over the past 20 years to enrich isotopes of elements or molecules with low atomic masses.

Executives

Todd Wider	director	4848 LEMMON AVENUE, SUITE 517, DALLAS TX 75219
Duncan Moore	director	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 33432
Joshua Jay Donfeld	director	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 90210
Ak Jensen Investment Management Ltd	10 percent owner	1 CORNHILL, LONDON X0 EC3V 3ND
Sergey Vasnetsov	director	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 33432
Paul Elliot Mann	director, 10 percent owner, officer: Chief Executive Officer	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 33432
Einar Ronander	10 percent owner, other: Chief Scientific Adviser	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 33432
Robert Ainscow	officer: Chief Financial Officer	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 33432
Hendrik Strydom	director, 10 percent owner	C/O ASP ISOTOPES INC., 433 PLAZA REAL, SUITE 275, BOCA RATON FL 33432