Direct Selling Acquisition (Direct Selling Acquisition) Beneish M-Score : 0.00 (As of Jun. 04, 2024)

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

During the past 3 years, the highest Beneish M-Score of Direct Selling Acquisition was 0.00. The lowest was 0.00. And the median was 0.00.

Direct Selling Acquisition Beneish M-Score Historical Data

The historical data trend for Direct Selling Acquisition'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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Direct Selling Acquisition Beneish M-Score Chart

Direct Selling Acquisition Annual Data

Trend

Dec21

Dec22

Dec23

Beneish M-Score

Direct Selling Acquisition Quarterly Data
	May21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial							-	-	-	-	-

Competitive Comparison of Direct Selling Acquisition's Beneish M-Score

For the Shell Companies subindustry, Direct Selling Acquisition'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.

Direct Selling Acquisition's Beneish M-Score Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Direct Selling Acquisition's Beneish M-Score distribution charts can be found below:

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

Direct Selling Acquisition 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 Direct Selling Acquisition 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 = $0.00 Mil.
Total Current Assets was $1.45 Mil.
Total Assets was $63.93 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.00 Mil.
Total Current Liabilities was $13.35 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -4.829 + -0.714 + 0.014 + -0.133 = $-5.66 Mil.
Non Operating Income was -3.48 + 0.232 + -0.232 + 1.624 = $-1.86 Mil.
Cash Flow from Operations was -0.152 + -2.292 + -0.35 + -0.16 = $-2.95 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 $1.47 Mil.
Total Assets was $60.79 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $1.04 Mil.
Total Current Liabilities was $4.57 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=		/
	=

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 / 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 - (1.453 + 0) / 63.932)	/	(1 - (1.469 + 0) / 60.786)
	=	0.977273	/	0.975833
	=

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
	=

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 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(0 / 0)	/	(1.038 / 0)
	=		/
	=

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 + 13.354) / 63.932)	/	((0 + 4.573) / 60.786)
	=	0.208878	/	0.075231
	=

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
	=	(-5.662 - -1.856	-	-2.954)	/	63.932
	=	-0.013327

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.

Direct Selling Acquisition Beneish M-Score Related Terms

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Direct Selling Acquisition (Direct Selling Acquisition) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Direct Selling Acquisition Corp (OTCPK:DSAQ) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

5800 Democracy Drive, Plano, TX, USA, 75024

Website

https://www.dsacquisition.com

Direct Selling Acquisition Corp is a blank check company.

Executives

Himanshu Gulati	10 percent owner	500 FIFTH AVENUE, SUITE 2320, NEW YORK NY 10110
Antara Capital Lp	10 percent owner	55 HUDSON YARDS, 47TH FLOOR, NEW YORK NY 10001
Antara Capital Master Fund Lp	10 percent owner	500 FIFTH AVENUE, SUITE 2320, NEW YORK NY 10110
Antara Capital Fund Gp Llc	10 percent owner	500 FIFTH AVENUE, SUITE 2320, NEW YORK NY 10110
Antara Capital Gp Llc	10 percent owner	500 FIFTH AVENUE, SUITE 2320, NEW YORK NY 10110
Antara Capital Total Return Spac Master Fund Lp	10 percent owner	55 HUDSON YARDS, 47TH FLOOR, SUITE C, NEW YORK NY 10001
Antara Capital Total Return Spac Fund Gp Llc	10 percent owner	55 HUDSON YARDS, 47TH FLOOR, SUITE C, NEW YORK NY 10001
Wayne Lee Moorehead	director, officer: Chief Strategy Officer	123 EAST 200 NORTH, ALPINE UT 84004
Addison John A. Jr.	director	3120 BRECKINRIDGE BLVD., DULUTH GA 30099
Dave Wentz	director, officer: Chief Executive Officer	308 W 300, S #203, SALT LAKE CITY UT 84101
Bradford Richardson	director	3838 WEST PARKWAY BLVD, SALT LAKE CITY UT 84120
Travis Ogden	director	C/O DIRECT SELLING ACQUISITION CORP., 5800 DEMOCRACY DRIVE, PLANO TX 75024
Mike Lohner	director, officer: Chief Financial Officer	C/O DIRECT SELLING ACQUISITION CORP., 5800 DEMOCRACY DRIVE, PLANO TX 75024
Heather Chastain	director	C/O DIRECT SELLING ACQUISITION CORP., 5800 DEMOCRACY DRIVE, PLANO TX 75024
Dsac Partners Llc	10 percent owner	C/O DIRECT SELLING ACQUISITION CORP., 5800 DEMOCRACY DRIVE, PLANO TX 75024

Direct Selling Acquisition (Direct Selling Acquisition) Headlines

From GuruFocus

Direct Selling Acquisition Corp. Confirms Funding and Extension of Deadline to Complete Initial Business Combination

By Business Wire Business Wire • 12-28-2022

Direct Selling Acquisition Corp. Announces Extension of Deadline to Complete Business Combination

By Business Wire Business Wire • 12-26-2022

Direct Selling Acquisition Corp. Announces the Separate Trading of its Class A Common Stock and Warrants Commencing November 12, 2021

By Business Wire Business Wire • 11-09-2021

Direct Selling Acquisition Corp. Announces Closing of $230 Million Initial Public Offering

By Business Wire Business Wire • 09-28-2021

Direct Selling Acquisition Corp. Announces Adjournment of Special Meeting of Stockholders

By Business Wire Business Wire • 03-17-2023

Hunch Mobility, a Leading Provider of Urban Air Mobility in the Indian Subcontinent, Enters Into Business Combination Agreement With Direct Selling Acquisition Corp.

By Business Wire • 01-18-2024