Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Oct 1, 2026
Biostem Technologies, Inc. (BSEM)
A forensic read on Biostem Technologies, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
6.7
Distress distance
Clean
Earnings quality
3
Forensic signals
-23.8%
ROE
-31.8%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Biostem Technologies, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 6.7, placing it in the Safe zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+73.2%
FY2025→FY2026
Accruals ratio (% of NOA).Net operating assets grew +73.2% relative to their own average in FY2026 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by inventory up +64% on the year.
345d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 48 to 345 FY2024→FY2025 (against cost of goods sold; inventory +58% vs -78% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead. There's no FY2023 figure on file for inventory, so FY2024 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
-5.6%
FY2025
Return on invested capital.Return on invested capital is -5.6% in the latest fiscal year, against 159.9% in FY2024. After-tax operating profit was $28M in FY2024 and ($544,426) in FY2025, with operating income at 44.7% of revenue in FY2024 and -1.5% in FY2025. The capital base behind it came down -45% across FY2024–FY2025, from $18M to $10M, so this return is struck on a smaller base than it started on. In FY2025, $3M went into capital expenditure against $115,045 of depreciation excluding $104,372 of intangible-asset amortisation. The base is struck net of amortisation, write-downs and the current liabilities that fund it, so it moved by less than that spending net of the wear, and this row does not say which of those absorbed the difference.
Key fundamentals
Latest Revenue$47.5M
Revenue Growth YoY-31.8%
Net Margin-13.9%
Free Cash Flow$6.6M
Return on Equity-23.8%
Debt / Equity0.00x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Biostem Technologies, Inc.'s actual 10-K/10-Q/8-K filings?