Issue 000 | U.S. Pilot | US

SBFM

Sunshine Biopharma Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-13 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 43.6%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 24,783,176USD
Total Liabilities: 6,413,781USD
NCAV: 18,369,395USD
Cash: n/a
NCAV per share: 3.67USD/share
Evidence: 10 annual | 25 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis Normalized to latest verified split basis As reported in each filing

Metric	2026-03-31 10-Q Open filing	2025-12-31 10-K Open filing	2025-09-30 10-Q Open filing	2025-06-30 10-Q Open filing	2025-03-31 10-Q Open filing	2024-12-31 10-K Open filing	2024-09-30 10-Q Open filing	2024-06-30 10-Q Open filing	2024-03-31 10-Q Open filing	2023-12-31 10-K Open filing	2023-09-30 10-Q Open filing	2023-06-30 10-Q Open filing	2023-03-31 10-Q Open filing	2022-12-31 10-K Open filing	2022-09-30 10-Q Open filing	2022-06-30 10-Q Open filing	2022-03-31 10-Q Open filing	2021-12-31 10-K Open filing	2021-09-30 10-Q Open filing	2021-06-30 10-Q Open filing	2020-12-31 10-K Open filing	2019-12-31 10-K Open filing	2018-12-31 10-K Open filing	2017-12-31 10-K Open filing	2016-12-31 10-K Open filing
Period-end Shares Outstanding	n/an/a	4,905,9454,905,945	455,5944,555,945	455,5944,555,945	270,7542,707,541	258,0102,580,098	199,9661,999,660	117,0511,170,510	4,973994,529	1,40128,024,290	1,28425,678,290	1,28725,746,302	1,10722,139,921	1,12922,585,632	n/an/a	n/an/a	n/an/a	42,591,240	4510,093,265	4486,093,265	3346,419,296	035,319,990	085,652,400	0918,736,498	0769,399,858
Weighted-average Basic Shares	4,905,9454,905,945	4,157,0864,157,086	455,5944,555,945	449,6114,496,108	n/an/a	n/an/a	126,7561,267,565	4,97349,726	3,207641,310	1,21724,331,908	n/an/a	n/an/a	n/an/a	75915,180,868	3118,885,632	2615,849,518	95,272,856	42,612,061	4508,528,048	4478,520,336	2204,096,338	010,932,813	060,936,164	0872,685,608	0424,874,458
Weighted-average Diluted Shares	n/an/a	n/an/a	392,5243,925,235	360,4653,604,653	270,3292,703,293	70,175701,749	126,7561,267,565	4,97349,726	3,207641,310	1,21724,331,908	1,28525,690,449	1,26825,350,263	1,10222,036,272	75915,180,868	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Basic EPS	-0-0	-1-1	-1-1	-1-1	-0-0	-7-7	-14-14	-43-43	-2-2	-0-0	00	-0-0	-8-8	-2-2	-0-0	-0-0	-0-0	-5-5	-0-0	-0-0	-0-0	-0-0	-0-0	00	-0-0
Diluted EPS	n/an/a	n/an/a	-1-1	-1-1	-0-0	-7-7	-14-14	-43-43	-2-2	-0-0	n/an/a	n/an/a	-0-0	-2-2	n/an/a	n/an/a	-0-0	-5-5	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Basic-to-Diluted Share Difference	Insufficient evidence	Insufficient evidence	-13.8%	-19.8%	Insufficient evidence	Insufficient evidence	0.0%	0.0%	0.0%	0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Net Share Count Change	18.0%	976.8%	0.0%	68.3%	4.9%	29.0%	70.8%	2253.9%	254.9%	9.1%	-0.3%	16.3%	-2.0%	Insufficient evidence	19.2%	200.6%	101.9%	1.6%	4.9%	40.3%	880.8%	724.7%	-90.7%	19.4%	Insufficient evidence
Ownership Claim Change	-15.3%	-90.7%	0.0%	-40.6%	-4.7%	-22.5%	-41.5%	-95.8%	-71.8%	-8.4%	0.3%	-14.0%	2.0%	Insufficient evidence	-16.1%	-66.7%	-50.5%	-1.6%	-4.7%	-28.7%	-89.8%	-87.9%	972.6%	-16.3%	Insufficient evidence

Verified split events: reverse 20.0 on 2020-04-06; reverse 200.0 on 2022-02-09; reverse 30.0 on 2023-03-24; reverse 100.0 on 2024-04-17; reverse 20.0 on 2024-08-08; reverse 10.0 on 2025-12-31

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-12-31 10-K USD	2024-12-31 10-K USD	2023-12-31 10-K USD	2022-12-31 10-K USD	2021-12-31 10-K USD	2020-12-31 10-K USD	2019-12-31 10-K USD	2018-12-31 10-K USD	2017-12-31 10-K USD	2016-12-31 10-K USD
Revenue	36,305,891	34,874,283	24,092,787	4,345,603	228,426	71,410	21,121	447,200	0	n/a
Operating Income	-6,227,029	-5,812,121	-4,785,299	-27,000,750	-2,440,134	-576,874	-641,636	-1,166,537	-857,190	-993,108
Net Income	-5,975,352	-5,134,116	-4,506,044	-26,744,440	-12,436,447	-2,784,091	-1,660,291	-2,156,155	-1,040,236	-3,496,687
Cash From Operations	-5,331,073	-12,531,180	-8,775,111	-5,248,358	-1,829,128	-657,299	-495,798	-512,806	-543,520	-314,182
Capex	-174,491	-1,657,055	-82,251	-193,982	0	-1,191	-860	-18,850	-3,718	-3,439
Free Cash Flow	-5,505,564	-14,188,235	-8,857,362	-5,442,340	-1,829,128	-658,490	-496,658	-531,656	-547,238	-317,621
Cash And Equivalents	9,123,308	9,686,529	16,292,347	21,826,437	2,045,167	989,888	40,501	115,216	107,532	57,453
Accounts Receivable	3,459,864	3,868,418	2,552,362	1,912,153	7,798	1,916	430	94,955	0	n/a
Inventory	13,472,025	11,278,105	5,734,755	3,289,945	105,650	23,771	15,910	0	n/a	n/a
Total Current Assets	26,853,581	25,966,349	24,890,055	27,312,334	2,195,830	1,025,943	65,686	211,512	117,199	58,460
Total Assets	30,079,167	30,560,392	27,346,961	29,243,848	2,202,891	1,045,474	98,142	1,146,571	257,485	64,404
Total Current Liabilities	6,443,922	6,314,914	5,551,836	6,931,014	91,229	1,051,305	833,527	912,477	751,138	274,104
Total Liabilities	7,040,707	7,059,638	6,139,600	7,616,278	1,991,229	2,000,311	833,527	1,202,324	830,848	274,104
Shareholders Equity	23,038,460	23,500,754	21,207,361	21,627,570	211,662	-954,837	-735,385	-55,753	-573,363	-209,700
Shares Outstanding	4,905,945	270,754	4,973	1,129	1,296	4	88	0	0	0
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	4,157,086	70,175	12,825	759	1,306	510	27	8	109	53
Weighted Avg Shares Basic	4,157,086	70,175	12,825	759	1,306	510	27	8	109	53
Net Share Count Change (Normalized)	976.8%	29.0%	9.1%	Insufficient evidence	1.6%	880.8%	724.7%	-90.7%	19.4%	Insufficient evidence
Ownership Claim Change (Normalized)	-90.7%	-22.5%	-8.4%	Insufficient evidence	-1.6%	-89.8%	-87.9%	972.6%	-16.3%	Insufficient evidence

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric	2026-03-31 10-Q USD	2025-12-31 10-K USD	2025-12-31 10-K USD	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-Q USD	2024-12-31 10-K USD	2024-12-31 10-K USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD	2023-12-31 10-K USD	2023-12-31 10-K USD	2023-09-30 10-Q USD	2023-06-30 10-Q USD	2023-03-31 10-Q USD	2022-12-31 10-K USD	2022-12-31 10-K USD	2022-09-30 10-Q USD	2022-06-30 10-Q USD	2022-03-31 10-Q USD	2021-12-31 10-K USD	2021-12-31 10-K USD	2021-09-30 10-Q USD	2021-06-30 10-Q USD
Revenue	8,088,765	8,577,141	8,577,141	9,417,179	9,410,230	8,901,341	9,594,992	9,594,992	8,435,178	9,303,067	7,541,046	7,680,201	7,680,201	5,957,668	5,560,865	4,894,053	3,939,843	3,939,843	132,808	150,307	122,645	85,118	85,118	50,376	52,874
Operating Income	-1,395,597	-1,790,011	-1,790,011	-1,086,613	-2,054,655	-1,295,750	-2,037,722	-2,086,903	-1,106,353	-1,268,276	-1,350,589	-1,187,221	-1,187,221	-779,474	-989,623	-1,828,981	-23,363,610	-23,363,610	-1,717,980	-695,796	-1,223,364	-279,631	-279,631	-496,259	-388,598
Net Income	-1,243,869	-2,140,927	-2,140,927	-883,820	-1,770,834	-1,179,771	-2,158,212	-2,158,212	-1,197,803	-494,300	-1,283,801	-1,250,024	-1,250,024	-651,482	-902,108	-1,702,430	-23,512,315	-23,512,315	-1,457,019	-538,872	-1,236,234	667,116	667,116	-4,039,383	-2,879,054
Cash From Operations	-2,072,100	-1,616,006	-1,616,006	-727,800	-1,273,432	-1,713,835	-3,407,282	-3,407,282	-1,360,956	-4,577,783	-3,185,159	-2,689,676	-2,689,676	-457,289	-3,778,040	-1,850,106	-2,246,612	-2,246,612	-1,123,736	-573,802	-1,304,208	-312,113	-312,113	-600,808	-618,852
Capex	-5,129	1,039	1,039	-8,040	-160,000	-7,490	-102,600	-102,600	-517,005	-974,513	-62,937	n/a	n/a	-9,634	n/a	n/a	n/a	n/a	0	n/a	n/a	n/a	n/a	n/a	n/a
Free Cash Flow	-2,077,229	-1,614,967	-1,614,967	-735,840	-1,433,432	-1,721,325	-3,509,882	-3,509,882	-1,877,961	-5,552,296	-3,248,096	n/a	n/a	-466,923	n/a	n/a	n/a	n/a	-1,123,736	n/a	n/a	n/a	n/a	n/a	n/a
Cash And Equivalents	6,913,013	n/a	n/a	9,306,438	10,305,320	8,124,610	n/a	n/a	12,206,655	11,507,745	17,434,208	n/a	n/a	18,846,140	19,729,491	19,294,218	21,826,437	21,826,437	40,555,931	41,727,775	13,177,625	2,045,167	2,045,167	2,386,608	1,735,094
Total Current Assets	24,783,176	26,853,581	26,853,581	27,967,232	27,851,018	24,480,980	25,966,349	25,966,349	25,981,863	25,748,520	28,831,224	24,890,055	24,890,055	25,434,859	26,098,709	24,946,947	27,312,334	27,312,334	40,860,574	41,989,322	13,405,367	2,195,830	2,195,830	2,491,683	1,803,586
Total Liabilities	6,413,781	7,040,707	7,040,707	7,288,023	6,280,446	6,484,635	7,059,638	7,059,638	5,017,504	5,811,114	7,079,102	6,139,600	6,139,600	5,686,801	5,300,229	7,561,870	7,616,278	7,616,278	480,209	104,684	95,234	1,991,229	1,991,229	3,675,847	2,689,778
Shares Outstanding	5,005,945	4,905,945	4,905,945	490,594	455,594	455,594	2,580,098	270,754	199,966	112,434	94,725	28,024,290	4,973	1,284	1,287	1,107	22,585,632	1,129	9,443	9,443	3,575	2,591,240	1,296	4	4
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	4,905,945	n/a	4,845,079	455,594	449,611	270,329	701,749	84,065	126,756	4,973	3,207	24,331,908	2,278	1,284	1,268	1,102	15,180,868	1,025	9,443	7,925	2,636	2,612,061	2,612,061	1,271	1,196
Weighted Avg Shares Basic	4,905,945	4,157,086	4,845,079	455,594	449,611	270,329	701,749	84,065	126,756	4,973	3,207	24,331,908	2,278	1,284	1,268	1,102	15,180,868	1,025	9,443	7,925	2,636	2,612,061	2,612,061	1,271	1,196
Net Share Count Change (Normalized)	18.0%	976.8%	976.8%	0.0%	68.3%	4.9%	29.0%	29.0%	70.8%	2253.9%	254.9%	9.1%	9.1%	-0.3%	16.3%	-2.0%	Insufficient evidence	Insufficient evidence	19.2%	200.6%	101.9%	1.6%	1.6%	4.9%	40.3%
Ownership Claim Change (Normalized)	-15.3%	-90.7%	-90.7%	0.0%	-40.6%	-4.7%	-22.5%	-22.5%	-41.5%	-95.8%	-71.8%	-8.4%	-8.4%	0.3%	-14.0%	2.0%	Insufficient evidence	Insufficient evidence	-16.1%	-66.7%	-50.5%	-1.6%	-1.6%	-4.7%	-28.7%

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	24,783,176USD	us-gaap:AssetsCurrent	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001402328/companyfacts.json Data Vault \| sec/companyfacts/cik=0001402328/companyfacts.json
Total Liabilities	6,413,781USD	us-gaap:Liabilities	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001402328/companyfacts.json Data Vault \| sec/companyfacts/cik=0001402328/companyfacts.json
Cash	6,913,013USD	us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2026-03-31	1.00	n/a
Shares Outstanding	5,005,945	dei:EntityCommonStockSharesOutstanding	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001402328/companyfacts.json Data Vault \| sec/companyfacts/cik=0001402328/companyfacts.json
NCAV	18,369,395USD	derived	2026-03-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	3.67USD	derived	2026-03-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	43.6%	derived	2026-03-31	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source: Data Vault
Data Vault Root: n/a
CIK: 0001402328
Company ID: n/a
Selected Annual Source: n/a
Selected Quarterly Source: n/a
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 26
Imported At: 2026-08-15T12:52:46+00:00
Rendered At: 2026-08-16T03:29:34+00:00

Run Audit

Mary Run: 1ec055d81d1a42a39490a83bb9e1f22f
Mary As Of: 2026-07-03
Accession: 0001683168-26-003819
CIK: 0001402328
Mary Filing Date: 2026-05-13
Filing Currency: USD
Internal Discount: 43.6%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=1ec055d81d1a42a39490a83bb9e1f22f; mary_as_of=2026-07-03; mary_filing_date=2026-05-13; mary_accession=0001683168-26-003819; mary_cik=0001402328; gnni_supporting_filing_date=2026-05-13; internal_discount=0.436479; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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