ZOOZ Strategy Ltd.

Sub-scale EV-charging vendor pivoting to a speculative bitcoin treasury strategy, with collapsing revenue and deeply negative margins.

Strengths

• Strong balance-sheet liquidity — current ratio 9.85 and ~7.8-quarter cash runway with ~$27M cash
• Net-income-growth percentile flatters (82nd) off a small base

Risks

• Revenue down ~76% and deeply negative margins (net -225%, operating -215%, negative gross margin)
• Unproven bitcoin-treasury concentration adds binary asset-price risk; unremediated material weakness
• Nasdaq sub-$1 bid-price risk and ongoing dilution via ATM/SEPA programs

Notable findings

• RestatementIf our custodially-held bitcoin were nevertheless considered to be the property of our custodians’ estates in the event that any such custodians were – Major Shareholders and Related Party Transaction 8-K ↗
• No interest coverageInterest coverage -332.07 (cannot cover interest)
• Cash burnNegative free cash flow (-13.9M)
• Net lossNet loss (net margin -22505.7%)
• Material weaknessZOOZ has identified a material weakness in its internal control over financial reporting
• Revenue declineRevenue -76.3% YoY
• China exposureRelated sanctions, export controls or other actions have been or may in the future be initiated by nations including the United States, the European Union or Russia (e