MetaStat (MetaStat) Beneish M-Score : 0.00 (As of Jun. 23, 2024)

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

During the past 11 years, the highest Beneish M-Score of MetaStat was 0.00. The lowest was 0.00. And the median was 0.00.

MetaStat Beneish M-Score Historical Data

The historical data trend for MetaStat'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.

* Premium members only.

MetaStat Beneish M-Score Chart

MetaStat Annual Data

Trend

Feb09

Feb10

Feb11

Feb12

Feb13

Feb14

Feb15

Feb16

Feb17

Feb18

Beneish M-Score

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-12.52

MetaStat Quarterly Data
	May13	Aug13	Nov13	Feb14	May14	Aug14	Nov14	Feb15	May15	Aug15	Nov15	Feb16	May16	Aug16	Nov16	Feb17	May17	Aug17	Nov17	Feb18
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of MetaStat's Beneish M-Score

For the Biotechnology subindustry, MetaStat'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.

MetaStat's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, MetaStat's Beneish M-Score distribution charts can be found below:

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

MetaStat 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 MetaStat 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 (Feb18) TTM:

Last Year (Feb17) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0.023 = $0.02 Mil.
Gross Profit was 0 + 0 + 0 + 0.023 = $0.02 Mil.
Total Current Assets was $0.33 Mil.
Total Assets was $0.73 Mil.
Property, Plant and Equipment(Net PPE) was $0.35 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.09 Mil.
Selling, General, & Admin. Expense(SGA) was $2.32 Mil.
Total Current Liabilities was $2.08 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.972 + -1.17 + -0.763 + -0.276 = $-3.18 Mil.
Non Operating Income was -0.064 + 0.012 + 0.05 + 0.49 = $0.49 Mil.
Cash Flow from Operations was -0.463 + -0.953 + -0.698 + -0.63 = $-2.74 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 $0.80 Mil.
Total Assets was $1.26 Mil.
Property, Plant and Equipment(Net PPE) was $0.42 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $2.34 Mil.
Total Current Liabilities was $1.95 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 / 0.023)	/	(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)	/	(0.023 / 0.023)
	=		/	1
	=

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 - (0.332 + 0.354) / 0.73)	/	(1 - (0.804 + 0.415) / 1.262)
	=	0.060274	/	0.034073
	=

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
	=	0.023	/	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))
	=	(0.096 / (0.096 + 0.415))	/	(0.09 / (0.09 + 0.354))
	=	0.187867	/	0.202703
	=

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)
	=	(2.318 / 0.023)	/	(2.339 / 0)
	=	100.782609	/
	=

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 + 2.08) / 0.73)	/	((0 + 1.95) / 1.262)
	=	2.849315	/	1.545166
	=

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
	=	(-3.181 - 0.488	-	-2.744)	/	0.73
	=	-1.267123

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.

MetaStat Beneish M-Score Related Terms

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MetaStat (MetaStat) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » MetaStat Inc (OTCPK:MTST) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

27 Drydock Avenue, 2nd Floor, Boston, MA, USA, 02210

Website

http://www.metastat.com

MetaStat Inc is a US-based biotechnology company which focuses on discovering and developing personalized therapeutic (Rx) and diagnostic (Dx) treatment solutions for cancer patients. The company focuses on development programs of the novel therapeutic product candidates that target the Mena protein isoform whereas the Companion Diagnostics program is focused on developing companion tests to be used in combination with cancer drugs, that provide essential information for the safe and effective use of a corresponding drug or biological product to improve patient outcome. It also develops a prognostic diagnostic program which is focused on developing diagnostic tests that predict the risk of future metastasis in cancer patients following the initial treatment of their primary tumor.

Executives

Daniel H Schneiderman	officer: VP OF FINANCE AND SECRETARY	760 PARKSIDE AVE. SUITE 304, SUITE 207, BROOKLYN NY 11226
Jerome B Zeldis	director	8767 E. VIA DE VENTURA, SUITE 190, SCOTTSDALE AZ 85258
Paul Billings	director	11055 FLINTKOTE AVENUE, SUITE B, SAN DIEGO CA 92121
Richard J Berman	director	305 COLLEGE ROAD EAST, PRINCETON NJ 08540
Martin J Driscoll	director	C/O JAVELIN PHARMACEUTICALS, INC., 125 CAMBRIDGE PARK DRIVE, CAMBRIDGE MA 02140
Oscar Bronsther	director	4 AUTUMNWOOD COURT, THE WOODLANDS TX 77380
Johan M. Spoor	director	500 BOYLSTON STREET, SUITE 1600, BOSTON MA 02116
David N Siegel	director	T-S CAPITAL PARTNERS, LLC, 1350 TREAT BOULEVARD, SUITE 400, WALNUT CREEK CA 94597
Warren C Lau	director	2635 N. CRESCENT RIDGE DRIVE, THE WOODLANDS TX 77381
Patrick T Mooney	director	C/O SONTRA MEDICAL CORPORATION, 10 FORGE PARKWAY, FRANKLIN MA 02038
David M. Epstein	director	OSI PHARMACEUTICALS, INC., 41 PINELAWN ROAD, MELVILLE NY 11747
Richard W Perkins	10 percent owner	730 EAST LAKE STREET, WAYZATA MN 55391
Harvey Judkowitz	director	10220 SW 124 ST, MIAMI FL 33176

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