Invests in the public equity markets of the United States. Focuses specifically on the energy sector. Now — the numbers.
The company is still in the product-building phase: its spending runs far above its sales. That only changes once the product starts selling at scale.
Average growth of 9% a year over the last 4 years. Red columns mark years that ended in a loss.
Before the clock runs out, either sales must climb sharply or new money must come in. This is the most critical line in the whole picture.
This company is not turning a profit, so the market is pricing its sales instead: 20.4× for every dollar of annual revenue.
No analyst target is on record for this company.
Executive selling isn’t always bad news; people sell for personal reasons too. Still, the thin buying side is worth noting.
The stock trades near its peak today. For long-term holders the ride has paid off so far — though past performance guarantees nothing about the future.
Over the last 4 years, sales grew about 9% a year on average.
Sales run at $54.0M a year. A small number, but proof the product has real buyers.
It pays out $4.32 per share each year — regular cash for whoever holds the stock.
A loss of $35.5M against $54.0M in annual sales. And on top of that, sales fell from the year before.
At the current pace of spending, the cash lasts less than a year. After that, the company needs to find new money.
Over the last 12 months, executives reported 21 sells against just 2 buys. Not an alarm bell by itself, but a number worth watching.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.