Mirage Energy (Mirage Energy) Beneish M-Score : 0.00 (As of Apr. 25, 2024)

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

During the past 8 years, the highest Beneish M-Score of Mirage Energy was 0.00. The lowest was 0.00. And the median was 0.00.

Mirage Energy Beneish M-Score Historical Data

The historical data trend for Mirage Energy'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.

Mirage Energy Beneish M-Score Chart

Mirage Energy Annual Data

Trend

Jul14

Jul15

Jul16

Jul17

Jul18

Jul19

Jul20

Jul21

Beneish M-Score

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-203.17

-227.09

-110.82

-10.18

-42.04

Mirage Energy Quarterly Data
	Oct16	Jan17	Apr17	Jul17	Oct17	Jan18	Apr18	Jul18	Oct18	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21
Beneish M-Score	Get a 7-Day Free Trial															-10.18	-15.41	-42.04	-42.04	-42.04

Competitive Comparison of Mirage Energy's Beneish M-Score

For the Oil & Gas Midstream subindustry, Mirage Energy'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.

Mirage Energy's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Mirage Energy's Beneish M-Score distribution charts can be found below:

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

Mirage Energy 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 Mirage Energy 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 (Jul21) TTM:

Last Year (Jul20) 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 $0.15 Mil.
Total Assets was $0.16 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 $3.22 Mil.
Total Current Liabilities was $3.23 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.549 + -1.947 + -0.885 + -0.841 = $-4.22 Mil.
Non Operating Income was -0.431 + 0.215 + -0.437 + -0.292 = $-0.95 Mil.
Cash Flow from Operations was -0.295 + -0.111 + -0.208 + -0.208 = $-0.82 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 $0.18 Mil.
Total Assets was $0.19 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 $1.03 Mil.
Total Current Liabilities was $3.04 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 - (0.15 + 0) / 0.156)	/	(1 - (0.177 + 0.001) / 0.185)
	=	0.038462	/	0.037838
	=

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 + 0.001))	/	(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)
	=	(3.218 / 0)	/	(1.029 / 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)
	=	((0.001 + 3.225) / 0.156)	/	((0.001 + 3.041) / 0.185)
	=	20.679487	/	16.443243
	=

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
	=	(-4.222 - -0.945	-	-0.822)	/	0.156
	=	-15.737179

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.

Mirage Energy Beneish M-Score Related Terms

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Mirage Energy (Mirage Energy) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Mirage Energy Corp (OTCPK:MRGE) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

900 Isom Road, Suite 306, San Antonio, TX, USA, 78216

Website

https://www.mirageenergycorp.com

Mirage Energy Corp develops an integrated natural gas transportation and storage facility in Mexico and the United States. The natural gas will be exported from the United States by pipeline to the Mexican storage unit for later distribution throughout Mexico.

Executives

David Cibrian	director	6 VINTAGE OAKS SAN ANTONIO TX 78248
Alejandro Amelio	director	81 CHELSEA BLVD. HOUSTON TX 77006
Soll Alfred Sussman	director	114 HAZELNUT COURT DRIFTWOOD TX 78619
Michael R Ward	director, 10 percent owner	13707 BLUFF GATE SAN ANTONIO TX 78216
Sadru Karim	10 percent owner	44120 HUNTER TERRACE FREMONT CA 94539
John Dosser	officer: Vice President	21114 LA PENA SAN ANTONIO TX 78258
Patrick Dosser	officer: Vice President	510 CALUMET SAN ANTONIO TX 78209