Accredited Solutions Inc Financials

ASII

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2024 Currency USD FYE December

This page shows Accredited Solutions Inc (ASII) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ASII FY2023 2026-04-22

A small-revenue business is being constrained less by gross margin than by a funding structure far larger than its asset base.

Most recently, gross margin and operating cash burn both improved versus the prior valid year, with operating cash outflow narrowing to -$81K from -$234K, so the core business was consuming less cash. But near-term liquidity weakened at the same time: current assets were only $69K against $5.3M of current liabilities, meaning the immediate constraint is funding structure, not just operating efficiency.

Gross margin near 20.0% did not translate into bottom-line relief because interest expense still ran at $399K; the business is being burdened by financing costs that are large relative to its sales base.

External funding appears to be carrying the business: financing cash flow stayed positive while operating cash flow stayed negative, and shares outstanding jumped from 339.3M to 712.3M in the latest year. That combination usually means the company has relied more on fresh capital than on cash generated by customers.

Financial Health Signals

Financial Profile 18/100

Based on FY2023 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Accredited Solutions Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Accredited Solutions Inc has an operating margin of -21.6%, meaning the company retains $-22 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -42.7% the prior year.

Leverage

100

Accredited Solutions Inc carries a low D/E ratio of -1.05, meaning only $-1.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Accredited Solutions Inc's current ratio of 0.01 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak

3/9

Accredited Solutions Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.05x

For every $1 of reported earnings, Accredited Solutions Inc generates $0.05 in operating cash flow (-$81K OCF vs -$1.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-0.4x

Accredited Solutions Inc earns $-0.4 in operating income for every $1 of interest expense (-$149K vs $399K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$689K

YoY+42.6%

Accredited Solutions Inc generated $689K in revenue in fiscal year 2023. This represents an increase of 42.6% from the prior year.

EBITDA

-$123K

YoY+31.8%

Accredited Solutions Inc's EBITDA was -$123K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.8% from the prior year.

Net Income

-$1.5M

YoY-4597.7%

Accredited Solutions Inc reported -$1.5M in net income in fiscal year 2023. This represents a decrease of 4597.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$919

YoY-97.4%

Accredited Solutions Inc held $919 in cash against $0 in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

712M

YoY+109.9%

Accredited Solutions Inc had 712M shares outstanding in fiscal year 2023. This represents an increase of 109.9% from the prior year.

Margins & Returns

Gross Margin

20.0%

YoY+0.4pp

Accredited Solutions Inc's gross margin was 20.0% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.

Operating Margin

-21.6%

YoY+21.1pp

Accredited Solutions Inc's operating margin was -21.6% in fiscal year 2023, reflecting core business profitability. This is up 21.1 percentage points from the prior year.

Net Margin

-216.1%

YoY-209.5pp

Accredited Solutions Inc's net profit margin was -216.1% in fiscal year 2023, showing the share of revenue converted to profit. This is down 209.5 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

ASII Income Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$689K+42.6%	$483K	$0-100.0%	$416K+59.9%	$260K	N/A
Cost of Revenue	$551K+42.0%	$388K	$0-100.0%	$343K+56.0%	$220K	N/A
Gross Profit	$138K+45.2%	$95K	$0-100.0%	$73K+81.5%	$40K	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$261K-5.2%	$275K	$0-100.0%	$424K	N/A	N/A
Operating Income	-$149K+27.9%	-$206K	$0+100.0%	-$1.3M-753.2%	-$154K-52.4%	-$101K
Interest Expense	$399K-49.1%	$783K	$0-100.0%	$68K-80.2%	$342K	N/A
Income Tax	$0	$0	$0	$0	$0	N/A
Net Income	-$1.5M-4597.7%	-$32K-105526.7%	-$30+100.0%	-$1.5M	N/A	-$101K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Revenue	$241K+135.7%	$102K-6.4%	$109K-25.0%	$146K-11.4%	$165K-26.0%	$222K+42.3%	$156K	N/A
Cost of Revenue	$190K+253.1%	$54K-54.9%	$119K-12.4%	$136K+11.9%	$122K-25.4%	$163K+25.4%	$130K	N/A
Gross Profit	$51K+5.7%	$49K+589.6%	-$10K-203.2%	$10K-77.6%	$43K-27.7%	$59K+126.0%	$26K	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$424K+593.5%	$61K+9.0%	$56K-50.7%	$114K+60.8%	$71K+2202.7%	$3K-95.8%	$73K	N/A
Operating Income	-$375K-2333.9%	-$15K+77.6%	-$69K+35.7%	-$107K-212.1%	-$34K-171.4%	$48K+186.6%	-$55K	N/A
Interest Expense	$36K+51.6%	$24K-81.0%	$124K-51.5%	$256K+441.0%	$47K+1.1%	$47K-3.1%	$48K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	-$73K-115.1%	$484K+292.9%	-$251K+83.2%	-$1.5M-543.9%	-$231K	N/A
EPS (Diluted)	$0.00	$0.00	$0.00	N/A	$0.00	$0.00	$0.00	N/A

ASII Balance Sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$230K-71.8%	$815K+3575.7%	$22K-98.9%	$2.0M+506.3%	$332K	$0
Current Assets	$69K-78.5%	$321K+1349.2%	$22K-88.9%	$199K-37.7%	$320K	N/A
Cash & Equivalents	$919-97.4%	$36K	N/A	$190-99.6%	$48K	$0
Inventory	$0	$0-100.0%	$2K-98.8%	$164K-39.7%	$271K	N/A
Accounts Receivable	$64K+25.2%	$51K	$0-100.0%	$5K	$0	N/A
Goodwill	$0-100.0%	$302K	N/A	$0	N/A	N/A
Total Liabilities	$5.3M+13.1%	$4.7M	$0-100.0%	$2.4M+1.1%	$2.4M+2073.2%	$110K
Current Liabilities	$5.3M+13.1%	$4.7M	$0-100.0%	$2.4M+1.1%	$2.4M+2073.2%	$110K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$5.1M-30.9%	-$3.9M-17579.0%	$22K+906.9%	$2K+100.1%	-$2.1M-1771.6%	-$110K
Retained Earnings	-$7.9M-23.3%	-$6.4M-15962600.0%	-$40+100.0%	-$8.4M-21.1%	-$6.9M-32.5%	-$5.2M

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Total Assets	$249K+51.0%	$165K+2.4%	$161K-29.9%	$230K-61.9%	$602K+15.4%	$522K-29.3%	$738K-9.4%	$815K
Current Assets	$97K+877.6%	$10K+218.1%	$3K-95.5%	$69K-49.6%	$137K+174.1%	$50K-80.7%	$258K-19.7%	$321K
Cash & Equivalents	$12K+78.6%	$7K+2666.9%	$245-73.3%	$919-98.4%	$56K+384.0%	$12K+228.4%	$4K-90.2%	$36K
Inventory	$0	N/A	N/A	$0	N/A	$0	N/A	$0
Accounts Receivable	$61K	$0	$0-100.0%	$64K-20.7%	$81K+112.6%	$38K+58.2%	$24K-53.1%	$51K
Goodwill	N/A	N/A	N/A	$0-100.0%	$302K0.0%	$302K0.0%	$302K0.0%	$302K
Total Liabilities	$1.3M-81.7%	$7.2M+40.3%	$5.2M-2.8%	$5.3M-14.8%	$6.2M+4.7%	$5.9M+28.3%	$4.6M-1.2%	$4.7M
Current Liabilities	$1.3M-81.7%	$7.2M+40.3%	$5.2M-2.8%	$5.3M-14.8%	$6.2M+4.7%	$5.9M+28.3%	$4.6M-1.2%	$4.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$1.1M+84.8%	-$7.1M-41.5%	-$5.0M+1.6%	-$5.1M+9.8%	-$5.6M-4.5%	-$5.4M-38.1%	-$3.9M-0.5%	-$3.9M
Retained Earnings	-$5.8M+42.6%	-$10.0M-26.2%	-$7.9M-0.9%	-$7.9M+5.8%	-$8.4M-2.5%	-$8.2M-23.2%	-$6.6M-3.6%	-$6.4M

ASII Cash Flow Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$81K+65.1%	-$234K-778320.0%	-$30+100.0%	-$122K+73.8%	-$463K-656.7%	-$61K
Capital Expenditures	N/A	N/A	$47K	$0	N/A	N/A
Free Cash Flow	N/A	N/A	-$47K+61.3%	-$122K	N/A	N/A
Investing Cash Flow	-$541-103.8%	$14K	$0+100.0%	-$63K	$0	N/A
Financing Cash Flow	$47K-80.0%	$235K+1075.0%	$20K-87.3%	$158K-69.1%	$512K+735.2%	$61K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Operating Cash Flow	-$208K-481.6%	-$36K-5213.9%	-$674+99.1%	-$72K-311.7%	$34K+660.1%	$4K+109.3%	-$48K+44.8%	-$87K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$0	$0	$0	$0	$0+100.0%	-$541	$0-100.0%	$14K
Financing Cash Flow	$214K+404.5%	$42K	$0-100.0%	$17K+64.3%	$10K+152.4%	$4K-73.5%	$16K+255.0%	-$10K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ASII Financial Ratios

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	20.0%+0.4pp	19.7%	N/A	17.5%+2.1pp	15.5%	N/A
Operating Margin	-21.6%+21.1pp	-42.7%	N/A	-316.3%-257.0pp	-59.3%	N/A
Net Margin	-216.1%-209.5pp	-6.6%	N/A	-351.6%	N/A	N/A
Return on Equity	N/A	N/A	-0.1%+66392.0pp	-66392.1%	N/A	N/A
Return on Assets	-648.6%-644.7pp	-3.9%-3.8pp	-0.1%+72.6pp	-72.7%	N/A	N/A
Current Ratio	0.01-0.1	0.07	N/A	0.08-0.1	0.13	N/A
Debt-to-Equity	-1.05+0.2	-1.21-1.2	0.00-1097.0	1096.95+1098.1	-1.16-0.2	-1.00
FCF Margin	N/A	N/A	N/A	-29.2%	N/A	N/A

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Gross Margin	21.3%-26.2pp	47.5%+56.5pp	-9.1%-15.7pp	6.6%-19.5pp	26.1%-0.6pp	26.7%+9.9pp	16.8%	N/A
Operating Margin	-155.6%-140.5pp	-15.1%+47.9pp	-62.9%+10.5pp	-73.4%-52.6pp	-20.8%-42.4pp	21.6%+57.1pp	-35.5%	N/A
Net Margin	N/A	N/A	-67.0%-399.1pp	332.1%+484.7pp	-152.6%+517.6pp	-670.2%-522.1pp	-148.1%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	-45.6%-256.5pp	210.9%+252.6pp	-41.7%+243.8pp	-285.5%-254.1pp	-31.3%	N/A
Current Ratio	0.07+0.1	0.000.0	0.00-0.0	0.010.0	0.02+0.0	0.01-0.0	0.06-0.0	0.07
Debt-to-Equity	-1.23-0.2	-1.020.0	-1.03+0.0	-1.05+0.1	-1.110.0	-1.11+0.1	-1.19+0.0	-1.21
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$5.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.01), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Accredited Solutions Inc's annual revenue?

Accredited Solutions Inc (ASII) reported $689K in total revenue for fiscal year 2023. This represents a 42.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Accredited Solutions Inc's revenue growing?

Accredited Solutions Inc (ASII) revenue grew by 42.6% year-over-year, from $483K to $689K in fiscal year 2023.

Is Accredited Solutions Inc profitable?

No, Accredited Solutions Inc (ASII) reported a net income of -$1.5M in fiscal year 2023, with a net profit margin of -216.1%.

What is Accredited Solutions Inc's EBITDA?

Accredited Solutions Inc (ASII) had EBITDA of -$123K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

What is Accredited Solutions Inc's gross margin?

Accredited Solutions Inc (ASII) had a gross margin of 20.0% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.

What is Accredited Solutions Inc's operating margin?

Accredited Solutions Inc (ASII) had an operating margin of -21.6% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.

What is Accredited Solutions Inc's net profit margin?

Accredited Solutions Inc (ASII) had a net profit margin of -216.1% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.

What is Accredited Solutions Inc's operating cash flow?

Accredited Solutions Inc (ASII) generated -$81K in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

What are Accredited Solutions Inc's total assets?

Accredited Solutions Inc (ASII) had $230K in total assets as of fiscal year 2023, including both current and long-term assets.

How many shares does Accredited Solutions Inc have outstanding?

Accredited Solutions Inc (ASII) had 712M shares outstanding as of fiscal year 2023.

What is Accredited Solutions Inc's current ratio?

Accredited Solutions Inc (ASII) had a current ratio of 0.01 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.

What is Accredited Solutions Inc's debt-to-equity ratio?

Accredited Solutions Inc (ASII) had a debt-to-equity ratio of -1.05 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Accredited Solutions Inc's return on assets (ROA)?

Accredited Solutions Inc (ASII) had a return on assets of -648.6% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

What is Accredited Solutions Inc's cash runway?

Based on fiscal year 2023 data, Accredited Solutions Inc (ASII) had $919 in cash against an annual operating cash burn of $81K. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Accredited Solutions Inc's debt-to-equity ratio negative or unusual?

Accredited Solutions Inc (ASII) has negative shareholder equity of -$5.1M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Accredited Solutions Inc's Piotroski F-Score?

Accredited Solutions Inc (ASII) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Accredited Solutions Inc's earnings high quality?

Accredited Solutions Inc (ASII) has an earnings quality ratio of 0.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Accredited Solutions Inc cover its interest payments?

Accredited Solutions Inc (ASII) has an interest coverage ratio of -0.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Accredited Solutions Inc?

Accredited Solutions Inc (ASII) scores 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.