What is TAP REAL ESTATE TECHNOLOGIES INC's earnings per share (EPS)?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) reported diluted earnings per share of $0.00 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

TAP REAL ESTATE TECHNOLOGIES INC Financials

RWAX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows TAP REAL ESTATE TECHNOLOGIES INC (RWAX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 RWAX FY2025 2026-04-22

External funding and asset sales, not internal cash generation, appear to be sustaining operations as the balance sheet stays thin.

FY2025 operating burn was still $1.7M, but a non-operating cash source of $2.0M in investing inflow prevented an even tighter cash squeeze. Because the current ratio only improved to 0.3x from 0.1x while operating cash flow stayed negative, the liquidity relief looks temporary rather than evidence that the core business is now funding itself.

FY2025 liabilities exceeding assets by a wide margin - $4.2M against $1.4M - means there is little balance-sheet cushion left if cash needs persist. With current assets matching total assets and current liabilities matching total liabilities, the pressure is mostly near-term rather than buried in long-dated obligations.

The company has been in expense retrenchment: selling and admin costs fell to $4.1M in FY2025 from $18.8M in FY2022. But cash burn durability has not changed enough; operating cash flow stayed negative across the last three valid years, so lower overhead is slowing the drain rather than making operations self-supporting.

Financial Health Signals

Financial Profile 0/100

Based on FY2025 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 TAP REAL ESTATE TECHNOLOGIES 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.

Liquidity

TAP REAL ESTATE TECHNOLOGIES INC's current ratio of 0.32 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

1/9

TAP REAL ESTATE TECHNOLOGIES INC passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Key Financial Metrics

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Earnings & Revenue

Revenue

TAP REAL ESTATE TECHNOLOGIES INC generated $0 in revenue in fiscal year 2025.

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

$0.00

TAP REAL ESTATE TECHNOLOGIES INC earned $0.00 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$126K

YoY+515.3%

TAP REAL ESTATE TECHNOLOGIES INC held $126K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

53.62B

YoY+134.0%

TAP REAL ESTATE TECHNOLOGIES INC had 53.62B shares outstanding in fiscal year 2025. This represents an increase of 134.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

RWAX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$0	$0-100.0%	$1.0M+121.5%	$454K-66.9%	$1.4M
Cost of Revenue	N/A	N/A	$443K+144.6%	$181K-78.8%	$856K
Gross Profit	N/A	N/A	$563K+106.2%	$273K-47.2%	$517K
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$4.1M-3.1%	$4.3M-34.1%	$6.5M-65.4%	$18.8M+21.1%	$15.5M
Operating Income	N/A	-$8.3M	N/A	N/A	-$28.3M
Interest Expense	$540K	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	$5K0.0%	$5K
Net Income	N/A	-$14.4M-235.1%	-$4.3M	N/A	-$49.7M
EPS (Diluted)	$0.00	$0.00	$0.00	$-0.03	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	N/A	N/A	N/A	N/A	N/A	$114K-27.3%	$157K-54.2%	$342K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$41K-74.5%	$162K-44.6%	$292K
Gross Profit	N/A	N/A	N/A	N/A	N/A	$73K+1470.5%	-$5K-110.6%	$50K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$1.2M+24.1%	$982K-0.7%	$989K	N/A	$783K-31.4%	$1.1M-5.9%	$1.2M
Operating Income	N/A	-$3.0M-57.8%	-$1.9M-37.0%	-$1.4M	N/A	-$1.1M+25.4%	-$1.5M+4.7%	-$1.5M
Interest Expense	N/A	N/A	N/A	$540K	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$17.1M-485.7%	-$2.9M-124.0%	$12.2M	N/A	-$2.3M+12.8%	-$2.7M-1051.9%	-$232K
EPS (Diluted)	N/A	$0.00	$0.00	$0.00	N/A	$0.00	$0.00	$0.00

RWAX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$1.4M-94.2%	$23.2M+1445.8%	$1.5M-60.7%	$3.8M-64.5%	$10.8M
Current Assets	$1.4M-54.7%	$3.0M+258.5%	$835K-70.7%	$2.9M-26.5%	$3.9M
Cash & Equivalents	$126K+515.3%	$20K-94.4%	$363K-24.8%	$483K-84.8%	$3.2M
Inventory	N/A	N/A	$290K-72.1%	$1.0M	N/A
Accounts Receivable	N/A	N/A	$30K-59.4%	$74K-73.0%	$273K
Goodwill	N/A	N/A	N/A	N/A	$3.2M
Total Liabilities	$4.2M-84.2%	$26.7M+374.2%	$5.6M-85.6%	$39.1M+43.7%	$27.2M
Current Liabilities	$4.2M-84.2%	$26.7M+383.0%	$5.5M-81.7%	$30.3M+21.8%	$24.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.9M+17.1%	-$3.5M+16.1%	-$4.1M+88.3%	-$35.3M-114.4%	-$16.5M
Retained Earnings	-$134.8M-14.3%	-$118.0M-14.0%	-$103.5M-4.3%	-$99.2M-95.9%	-$50.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.4M-93.6%	$21.2M-41.8%	$36.5M-6.5%	$39.0M+68.1%	$23.2M+557.1%	$3.5M+5.9%	$3.3M-1.7%	$3.4M
Current Assets	$1.4M+9.8%	$1.2M-92.5%	$16.5M-13.3%	$19.0M+536.0%	$3.0M-9.3%	$3.3M+6.6%	$3.1M-1.6%	$3.1M
Cash & Equivalents	$126K+2208.5%	$5K-95.7%	$126K-94.0%	$2.1M+10146.8%	$20K-92.5%	$274K+2174.7%	$12K-62.8%	$32K
Inventory	N/A	N/A	N/A	N/A	N/A	$218K-13.1%	$251K+1.7%	$247K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.2M+15.2%	$3.7M-84.9%	$24.2M-5.4%	$25.6M-4.0%	$26.7M+379.0%	$5.6M+11.2%	$5.0M-3.7%	$5.2M
Current Liabilities	$4.2M+15.2%	$3.7M-84.9%	$24.2M-5.4%	$25.6M-4.0%	$26.7M+410.5%	$5.2M+12.0%	$4.7M-10.2%	$5.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.9M-116.3%	$17.6M+43.1%	$12.3M-8.4%	$13.4M+487.1%	-$3.5M-98.0%	-$1.7M-26.5%	-$1.4M+23.6%	-$1.8M
Retained Earnings	-$134.8M-7.2%	-$125.8M-15.7%	-$108.7M-2.8%	-$105.8M+10.3%	-$118.0M-8.5%	-$108.8M-2.2%	-$106.4M-2.9%	-$103.5M

RWAX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$1.7M+48.0%	-$3.2M+22.7%	-$4.1M+64.8%	-$11.7M-17.7%	-$9.9M
Capital Expenditures	N/A	N/A	N/A	$9K-97.7%	$368K
Free Cash Flow	N/A	N/A	N/A	-$11.7M-13.6%	-$10.3M
Investing Cash Flow	$2.0M+173.6%	$731K	N/A	-$677K-185.6%	-$237K
Financing Cash Flow	-$238K-111.3%	$2.1M-47.3%	$4.0M-60.0%	$10.0M-13.9%	$11.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$109K+9.1%	-$120K+89.4%	-$1.1M-278.6%	-$298K	N/A	-$496K+7.0%	-$533K+34.0%	-$808K
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	$0-100.0%	$2.0M	N/A	N/A	N/A	N/A
Financing Cash Flow	$230K	$0+100.0%	-$845K-324.1%	$377K	N/A	$758K+46.3%	$518K+9.8%	$472K
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

RWAX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	55.9%-4.2pp	60.1%+22.4pp	37.6%
Operating Margin	N/A	N/A	N/A	N/A	-2059.0%
Net Margin	N/A	N/A	-428.6%	N/A	-3618.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-62.2%+224.7pp	-286.9%	N/A	-461.2%
Current Ratio	0.32+0.2	0.11-0.0	0.15+0.1	0.09-0.1	0.16
Debt-to-Equity	-1.47+6.2	-7.71-6.3	-1.36-0.3	-1.11+0.5	-1.65
FCF Margin	N/A	N/A	N/A	-2576.1%-1825.9pp	-750.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	63.7%+67.1pp	-3.4%-18.0pp	14.6%
Operating Margin	N/A	N/A	N/A	N/A	N/A	-955.5%-23.9pp	-931.5%-483.8pp	-447.7%
Net Margin	N/A	N/A	N/A	N/A	N/A	-2042.8%-338.9pp	-1703.9%-1636.1pp	-67.8%
Return on Equity	N/A	-97.2%-73.5pp	-23.8%-114.5pp	90.8%	N/A	N/A	N/A	N/A
Return on Assets	N/A	-80.4%-72.4pp	-8.0%-39.2pp	31.2%	N/A	-66.0%+14.1pp	-80.1%-73.3pp	-6.8%
Current Ratio	0.32-0.0	0.34-0.3	0.68-0.1	0.74+0.6	0.11-0.5	0.63-0.0	0.66+0.1	0.60
Debt-to-Equity	-1.47-1.7	0.21-1.8	1.97+0.1	1.91+9.6	-7.71-4.5	-3.19+0.4	-3.62-0.7	-2.88
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$2.9M), 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 (0.32), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is TAP REAL ESTATE TECHNOLOGIES INC's annual revenue?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

What is TAP REAL ESTATE TECHNOLOGIES INC's operating cash flow?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) generated -$1.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are TAP REAL ESTATE TECHNOLOGIES INC's total assets?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) had $1.4M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does TAP REAL ESTATE TECHNOLOGIES INC have outstanding?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) had 53.62B shares outstanding as of fiscal year 2025.

What is TAP REAL ESTATE TECHNOLOGIES INC's current ratio?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) had a current ratio of 0.32 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is TAP REAL ESTATE TECHNOLOGIES INC's debt-to-equity ratio?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) had a debt-to-equity ratio of -1.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is TAP REAL ESTATE TECHNOLOGIES INC's cash runway?

Based on fiscal year 2025 data, TAP REAL ESTATE TECHNOLOGIES INC (RWAX) had $126K in cash against an annual operating cash burn of $1.7M. This gives an estimated cash runway of approximately 1 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 TAP REAL ESTATE TECHNOLOGIES INC's debt-to-equity ratio negative or unusual?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) has negative shareholder equity of -$2.9M as of fiscal year 2025, 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 TAP REAL ESTATE TECHNOLOGIES INC's Piotroski F-Score?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) has a Piotroski F-Score of 1 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.

How financially healthy is TAP REAL ESTATE TECHNOLOGIES INC?

TAP REAL ESTATE TECHNOLOGIES INC (RWAX) scores 0 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.