Mydecine Innovations Group (NEOE:MYCO) Financial Strength

: 0 (As of Sep. 2022)

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Mydecine Innovations Group has the Financial Strength Rank of 0.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.

Mydecine Innovations Group did not have earnings to cover the interest expense. As of today, Mydecine Innovations Group's Altman Z-Score is -67.25.

Competitive Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Mydecine Innovations Group's Financial Strength, along with its competitors' market caps and Financial Strength 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.

Annual Data Quarterly Data

Mydecine Innovations Group Financial Strength Distribution

For the Drug Manufacturers industry and Healthcare sector, Mydecine Innovations Group's Financial Strength distribution charts can be found below:

* The bar in red indicates where Mydecine Innovations Group's Financial Strength falls in comparison to its industry or sector. The grey bar indicates the Financial Strength's extreme value range as defined by GuruFocus.

Mydecine Innovations Group Financial Strength Calculation

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

Mydecine Innovations Group's Interest Expense for the months ended in Sep. 2022 was C$-0.22 Mil. Its Operating Income for the months ended in Sep. 2022 was C$-2.30 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2022 was C$5.02 Mil.

Mydecine Innovations Group's Interest Coverage for the quarter that ended in Sep. 2022 is

Mydecine Innovations Group did not have earnings to cover the interest expense.

The higher the ratio, the stronger the company's financial strength is.

2. Debt to revenue ratio. The lower, the better.

Mydecine Innovations Group's Debt to Revenue Ratio for the quarter that ended in Sep. 2022 is

Debt to Revenue Ratio	=	Total Debt (Q: Sep. 2022 )			/	Revenue
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Revenue
	=	(0.085	+	5.02)	/	0
	=	N/A

3. Altman Z-Score.

Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

The zones of discrimination were as such:

When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.

Mydecine Innovations Group has a Z-score of -67.25, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.

Warning Sign:

Altman Z-score of -67.25 is in distress zone. This implies bankruptcy possibility in the next two years.

* 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.

Mydecine Innovations Group (NEOE:MYCO) Financial Strength Explanation

The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.

Mydecine Innovations Group has the Financial Strength Rank of 0.

Mydecine Innovations Group Financial Strength Related Terms

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Mydecine Innovations Group (NEOE:MYCO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Mydecine Innovations Group Inc (NEOE:MYCO) » Definitions » Financial Strength

Traded in Other Exchanges

MYCOF:USA 0NF0:Germany

Address

789 West Pender Street, Suite 810, Vancouver, BC, CAN, V6C 1H2

Website

https://www.mydecine.com

Mydecine Innovations Group Inc is a biopharma and life sciences company. It is committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use. Reinforcing Mydecine's commitment to mental health solutions is underpinned by the company's three main focuses: Clinical Trials focusing on Veterans, EMS, and First Responders with a PTSD indication; Research and Development building a robust portfolio of intellectual property around drug discovery and unique delivery mechanisms with relevant use patents and future patent applications and Modern technology utilizing for better clinical trial management and mental health wellbeing.

Mydecine Innovations Group (NEOE:MYCO) Headlines

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