Karbon-X Corp.

Early-stage carbon-credit reseller with deeply negative margins, negative free cash flow, and weak liquidity.

Strengths

• Building a project pipeline and recently acquired assets (Allcot) plus equity raises to fund operations
• Some revenue traction in a structurally growing voluntary carbon-credit market

Risks

• Deeply negative operating margin -210% (14th pct) and net margin -223%; negative FCF -$6.5M
• Liquidity strain (current ratio 0.75) and convertible-note/derivative dilution; positive ROE is a negative-equity artifact

Notable findings

• No interest coverageInterest coverage -19.60 (cannot cover interest)
• Net lossNet loss (net margin -222.9%)
• Cash burnNegative free cash flow (-6.5M)
• Weak liquidityCurrent ratio 0.75 (<1)
• Revenue declineRevenue -79.5% YoY