GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Innoveren Scientific Inc (OTCPK:IVRN) » Definitions » Beneish M-Score

Innoveren Scientific (Innoveren Scientific) Beneish M-Score : 0.00 (As of May. 11, 2024)


View and export this data going back to 2014. Start your Free Trial

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

During the past 10 years, the highest Beneish M-Score of Innoveren Scientific was 88.10. The lowest was -38.12. And the median was -2.94.


Innoveren Scientific Beneish M-Score Historical Data

The historical data trend for Innoveren Scientific'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.

Innoveren Scientific Beneish M-Score Chart

Innoveren Scientific Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.08 -6.95 -4.54 -3.79 -38.12

Innoveren Scientific Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Beneish M-Score Get a 7-Day Free Trial 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 -4.76 -38.12 -18.67 - -

Competitive Comparison of Innoveren Scientific's Beneish M-Score

For the Biotechnology subindustry, Innoveren Scientific'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.


Innoveren Scientific's Beneish M-Score Distribution in the Biotechnology Industry

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

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



Innoveren Scientific 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 Innoveren Scientific for today is based on a combination of the following eight different indices:

M=-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 *
=

* 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 (Sep23) TTM:Last Year (Sep22) TTM:
Total Receivables was $0.07 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + -0.001 = $-0.00 Mil.
Total Current Assets was $0.75 Mil.
Total Assets was $0.79 Mil.
Property, Plant and Equipment(Net PPE) was $0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $2.09 Mil.
Total Current Liabilities was $9.66 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.496 + 0.82 + -2.09 + -1.493 = $-3.26 Mil.
Non Operating Income was 0.025 + 1.326 + -1.519 + -0.566 = $-0.73 Mil.
Cash Flow from Operations was -0.326 + -0.138 + -0.362 + -0.092 = $-0.92 Mil.
Total Receivables was $0.04 Mil.
Revenue was 0 + 0.074 + 0.38 + 0.325 = $0.78 Mil.
Gross Profit was 0 + 0.044 + 0.293 + 0.173 = $0.51 Mil.
Total Current Assets was $0.17 Mil.
Total Assets was $0.24 Mil.
Property, Plant and Equipment(Net PPE) was $0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $3.38 Mil.
Total Current Liabilities was $6.69 Mil.
Long-Term Debt & Capital Lease Obligation was $1.70 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)
=(0.066 / 0) / (0.035 / 0.779)
= / 0.044929
=

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)
=(0.51 / 0.779) / (-0.001 / 0)
=0.654685 /
=

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 - (0.749 + 0.016) / 0.789) / (1 - (0.174 + 0.022) / 0.241)
=0.030418 / 0.186722
=

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 / 0.779
=

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))
=(0.012 / (0.012 + 0.022)) / (0.01 / (0.01 + 0.016))
=0.352941 / 0.384615
=

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)
=(2.089 / 0) / (3.378 / 0.779)
= / 4.336329
=

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 + 9.661) / 0.789) / ((1.697 + 6.693) / 0.241)
=12.244613 / 34.813278
=

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
=(-3.259 - -0.734 - -0.918) / 0.789
=-2.036755

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.


Innoveren Scientific Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Innoveren Scientific's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Innoveren Scientific (Innoveren Scientific) Business Description

Traded in Other Exchanges
N/A
Address
2202 N West Shore Boulevard, Suite 200, Tampa, FL, USA, 33607
Innoveren Scientific Inc Formerly H-CYTE Inc is a hybrid biopharmaceutical company dedicated to developing and delivering new treatments for patients with chronic respiratory and pulmonary disorders. It has two divisions: the Healthcare Medical Biosciences Division (which includes the Infusion Vertical and the Biologics Vertical) and the DenerveX medical device division.
Executives
Fwhc Holdings, Llc 10 percent owner 1306 W KENNEDY BOULEVARD, TAMPA FL 33606
Hoa Capital Llc 10 percent owner 1306 W KENNEDY BOULEVARD, TAMPA FL 33606
Farrior J Rex Iii 10 percent owner 1306 W KENNEDY BOULEVARD, TAMPA FL 33606
Fwhc Bridge Friends, Llc 10 percent owner 1306 W KENNEDY BOULEVARD, TAMPA FL 33606
Raymond Monteleone director 201 E KENNEDY BLVD, STE 700, TAMPA FL 33602
Jeremy Daniel officer: Chief Financial Officer 201 E KENNEDY AVE, STE 700, TAMPA FL 33602
Robert Smith Greif officer: President and C.E.O. 19 MAY STREET, NEEDHAM MA 02492
Cfrs Investments, Llc 10 percent owner 2903 W VILLA ROSA PARK, TAMPA FL 33611
Frederick J Lynch 10 percent owner C/O MASONITE INTERNATIONAL CORPORATION, 201 NORTH FRANKLIN ST., SUITE 300, TAMPA FL 33602
Fwhc Bridge, Llc 10 percent owner 334 EAST LAKE ROAD, SUITE 176, PALM HARBOT FL 34685
Todd R Wagner 10 percent owner 3385 OLD KEYSTONE ROAD, TARPON SPRINGS FL 34688
Michael Yurkowsky director 2380 OLD MILTON PARKWAY, ALPHARETTA GA 30009
William E Horne director, officer: Chief Executive Officer 201 EAST KENNEDY BLVD, SUITE 700, TAMPA FL 33602
Jon Mogford director 714 PLUM HOLLOW DRIVE, COLLEGE STATION TX 77845
John C Thomas director 8601 SIX FORKS ROAD, SUITE 160, RALEIGH NC 27615