Freedom Internet Group (Freedom Internet Group) Beneish M-Score : 0.00 (As of Jun. 24, 2024)

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

During the past 4 years, the highest Beneish M-Score of Freedom Internet Group was 0.00. The lowest was 0.00. And the median was 0.00.

Freedom Internet Group Beneish M-Score Historical Data

The historical data trend for Freedom Internet Group'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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Freedom Internet Group Beneish M-Score Chart

Freedom Internet Group Annual Data

Trend

Oct19

Oct20

Oct21

Oct22

Beneish M-Score

-3.65

-2.86

Freedom Internet Group Quarterly Data
	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23
Beneish M-Score	Get a 7-Day Free Trial									-4.06	-4.03	-3.37	-2.86	-10.60

Competitive Comparison of Freedom Internet Group's Beneish M-Score

For the Asset Management subindustry, Freedom Internet Group'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.

Freedom Internet Group's Beneish M-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Freedom Internet Group's Beneish M-Score distribution charts can be found below:

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

Freedom Internet Group 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 Freedom Internet Group 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 * 1

0.528 * 1.2941

0.404 * 1.5172

0.892 * 1.0727

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5901

4.679 * -0.046422

0.327 * 26.6964

-10.60

This Year (Jan23) TTM:

Last Year (Jan22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0.02 + 0 + 0.026 + 0.013 = $0.06 Mil.
Gross Profit was -0.011 + -0.03 + -0.004 + -0.018 = $-0.06 Mil.
Total Current Assets was $0.30 Mil.
Total Assets was $1.03 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.04 Mil.
Selling, General, & Admin. Expense(SGA) was $0.12 Mil.
Total Current Liabilities was $0.02 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.043 + -0.139 + -0.08 + -0.075 = $-0.34 Mil.
Non Operating Income was 0 + -0.064 + -0.041 + 0 = $-0.11 Mil.
Cash Flow from Operations was -0.037 + -0.046 + -0.047 + -0.054 = $-0.18 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0.013 + 0.007 + 0.017 + 0.018 = $0.06 Mil.
Gross Profit was -0.017 + -0.023 + -0.013 + -0.023 = $-0.08 Mil.
Total Current Assets was $0.67 Mil.
Total Assets was $1.26 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.05 Mil.
Selling, General, & Admin. Expense(SGA) was $0.19 Mil.
Total Current Liabilities was $0.00 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)
	=	(0.001 / 0.059)	/	(0 / 0.055)
	=	0.016949	/	0
	=	1

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)
	=	(-0.076 / 0.055)	/	(-0.063 / 0.059)
	=	-1.381818	/	-1.067797
	=	1.2941

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 - (0.304 + 0) / 1.034)	/	(1 - (0.671 + 0) / 1.255)
	=	0.705996	/	0.465339
	=	1.5172

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
	=	0.059	/	0.055
	=	1.0727

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))
	=	(0.053 / (0.053 + 0))	/	(0.044 / (0.044 + 0))
	=	1	/	1
	=	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)
	=	(0.119 / 0.059)	/	(0.188 / 0.055)
	=	2.016949	/	3.418182
	=	0.5901

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 + 0.022) / 1.034)	/	((0 + 0.001) / 1.255)
	=	0.021277	/	0.000797
	=	26.6964

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
	=	(-0.337 - -0.105	-	-0.184)	/	1.034
	=	-0.046422

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.

Freedom Internet Group has a M-score of -10.60 suggests that the company is unlikely to be a manipulator.

Freedom Internet Group Beneish M-Score Related Terms

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Freedom Internet Group (Freedom Internet Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Freedom Internet Group Inc (OTCPK:FIGI) » Definitions » Beneish M-Score

Comparable Companies

NISN AHG LMFA PT BWMY DXF SNTG JT WEIDY AIHS V MA AXP PYPL COF BOM:500034 DFS TSE:8591 SYF ALLY

Traded in Other Exchanges

N/A

Address

151 Calle San Francisco, Suite 200, San Juan, PRI, 00901

Website

https://www.figiroyalty.com

Freedom Internet Group Inc is engaged in the business of acquiring, holding, and managing royalty interests derived from Internet-based businesses, referred to as operators. The purchase of royalty interests by a company enables entrepreneurs to raise non-dilutive capital and retain control of their businesses. The company generates revenue from physical or digital product sales, subscriptions, and advertising.

Executives

Noah Rosenfarb	director, 10 percent owner, officer: CFO	12178 NW 69TH CT PARKLAND FL 33076
Ronald Rosenfarb	director, officer: COO	4123 ISLA VERDE AVE APT 1505 CAROLINA PR 00979
Alton Chapman	director, 10 percent owner, officer: CEO	3460 KINGSBORO RD NE APT 640 ATLANTA GA 30326

Freedom Internet Group (Freedom Internet Group) Headlines

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