Issue 003 | U.S. Pilot | US

ELAB

PMGC Holdings Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-15 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 41.1%

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

Current Assets: 16,386,587USD
Total Liabilities: 13,426,865USD
NCAV: 2,959,722USD
Cash: 14,354,374USD
NCAV per share: 0.65USD/share
Evidence: 3 annual | 10 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.

Evaluated: 12
Triggered: 2
Unavailable: 7

Requires inspection Negative OCF -2,979,595

Latest: -2,979,5952026-03-31
Comparison: n/a
Change: n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001213900-26-056927

Requires inspection Current Ratio <= 1.5 1.45

Latest: 1.452026-03-31
Comparison: 1.5
Change: n/a

Basis: current assets / current liabilities <= 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001213900-26-056927

7 unavailable checks — inspect missing inputs

High Debt (short-term debt + long-term debt) / ordinary equity >= 50%

Low Debt (short-term debt + long-term debt) / ordinary equity < 20%

Material 1Y Share Increase 1Y share change >= +2% using the same share-count source

NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive

No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source

Non-Positive Equity ordinary shareholders equity <= 0

Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources

Source	Filing	Date	Type	Status	Provenance
S1	0001213900-26-056927	2026-05-15	10-Q	Verified	Data Vault \| sec/cleaned/cik=0001840563/accession=0001213900-26-056927/parser=html-cleaner-v1/full.txt

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: needs review

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
Period-end Shares Outstanding	1,936,7711,936,771	80,69980,699	31,005744,121	17,5901,477,575	8,418707,076	5,226438,987	449,376,039	118,892,115	117,329,615	117,329,615	110,118,834
Weighted-average Basic Shares	444,506444,506	20,35220,352	22,020528,472	14,8061,243,720	6,485544,715	94779,582	222,159,118	118,298,572	117,329,615	110,745,938	110,023,002
Weighted-average Diluted Shares	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	-11-11	-382-382	-14-14	-2-2	-3-3	-50-50	-0-0	-0-0	-0-0	-0-0	-0-0
Diluted EPS	-11-11	-382-382	-14-14	-2-2	-3-3	-50-50	-0-0	-0-0	-0-0	-0-0	-0-0
Basic-to-Diluted Share Difference	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	2300.0%	160.3%	76.3%	109.0%	61.1%	145529.5%	161.4%	9.0%	0.0%	71.3%	Insufficient evidence
Ownership Claim Change	-95.8%	-61.6%	-43.3%	-52.1%	-37.9%	-99.9%	-61.7%	-8.3%	0.0%	-41.6%	Insufficient evidence

Verified split events: reverse 117.0 on 2024-11-27; reverse 200.0 on 2024-11-27; reverse 7.0 on 2025-03-10; reverse 3.5 on 2025-09-02; reverse 4.0 on 2026-01-06; reverse 6.0 on 2026-03-04

Known Unknowns

Only 10 quarterly periods available from Data Vault for this company.

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
Revenue	590,084	n/a	1,712,595
Operating Income	n/a	n/a	n/a
Net Income	-7,747,813	-6,245,737	-4,301,517
Cash From Operations	-5,933,881	-5,486,980	-4,556,811
Capex	-442,255	-9,160	-11,191
Free Cash Flow	-6,376,136	-5,496,140	-4,568,002
Cash And Equivalents	5,402,333	3,984,453	3,326,851
Accounts Receivable	245,423	5,276	36,161
Inventory	95,098	n/a	495,667
Total Current Assets	6,871,255	6,051,001	4,919,444
Total Assets	12,868,473	8,993,165	5,189,918
Total Current Liabilities	3,942,296	1,799,134	1,297,353
Total Liabilities	5,031,111	2,333,601	1,362,842
Shareholders Equity	7,837,362	6,659,564	3,827,076
Shares Outstanding	1,159,112	8,418	1
Shares Outstanding Diluted	n/a	n/a	n/a
Weighted Avg Shares Diluted	20,352	947	16
Weighted Avg Shares Basic	20,352	947	16
Net Share Count Change (Normalized)	160.3%	145529.5%	71.3%
Ownership Claim Change (Normalized)	-61.6%	-99.9%	-41.6%

Quarterly Financials

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

Only 10 quarterly periods available from Data Vault for this company.

Metric	2026-03-31 10-Q 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	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD	2023-09-30 10-Q USD
Revenue	681,994	n/a	285,948	n/a	n/a	n/a	527,478	605,529	614,563	554,654,000
Operating Income	n/a	n/a	-2,198,901	n/a	n/a	n/a	-919,837	-1,408,613	-1,683,461	-785,551
Net Income	-4,967,259	-2,982,683	-2,594,320	-562,355	-1,608,455	-1,934,739	-1,501,257	-1,412,491	-1,397,250	-783,047,000
Cash From Operations	-2,979,595	-1,750,000	-1,490,167	-1,346,298	-1,347,416	-2,000,545	-381,678	-780,689	-2,324,068	n/a
Capex	-363,087	n/a	n/a	0	-9,160	0	0	0	-9,160	n/a
Free Cash Flow	-3,342,682	n/a	n/a	-1,346,298	-1,356,576	-2,000,545	-381,678	-780,689	-2,333,228	n/a
Cash And Equivalents	14,354,374	n/a	7,700,562	5,682,628	5,364,434	3,984,453	6,425,670	100,034	943,797	476,855,000
Total Current Assets	16,386,587	6,871,255	9,772,631	7,302,844	6,816,148	6,051,001	8,227,826	2,031,096	3,140,753	1,276,604,000
Total Liabilities	13,426,865	5,031,111	6,447,363	326,301	760,268	2,333,601	2,650,133	2,440,585	1,740,250	1,746,884,000
Shares Outstanding	4,543,751	80,699	31,005	17,677	16,374	938	38	1	1	1
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	444,506	20,352	4,517	2,658	6,485	79,582	2	28	26	21,417
Weighted Avg Shares Basic	444,506	20,352	4,517	2,658	6,485	79,582	2	28	26	21,417
Net Share Count Change (Normalized)	2300.0%	160.3%	76.3%	109.0%	61.1%	145529.5%	161.4%	9.0%	0.0%	Insufficient evidence
Ownership Claim Change (Normalized)	-95.8%	-61.6%	-43.3%	-52.1%	-37.9%	-99.9%	-61.7%	-8.3%	0.0%	Insufficient evidence

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	16,386,587USD	us-gaap:AssetsCurrent	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001840563/companyfacts.json Data Vault \| sec/companyfacts/cik=0001840563/companyfacts.json
Total Liabilities	13,426,865USD	us-gaap:Liabilities	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001840563/companyfacts.json Data Vault \| sec/companyfacts/cik=0001840563/companyfacts.json
Cash	14,354,374USD	us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2026-03-31	1.00	n/a
Shares Outstanding	4,543,751	dei:EntityCommonStockSharesOutstanding	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001840563/companyfacts.json Data Vault \| sec/companyfacts/cik=0001840563/companyfacts.json
NCAV	2,959,722USD	derived	2026-03-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	0.65USD	derived	2026-03-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	41.1%	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: 0001840563
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: 11
Imported At: 2026-08-15T12:51:56+00:00
Rendered At: 2026-08-16T03:29:48+00:00

Run Audit

Mary Run: 8f67c1da7de642feb640d04491409c50
Mary As Of: 2026-07-25
Accession: 0001213900-26-056927
CIK: 0001840563
Mary Filing Date: 2026-05-15
Filing Currency: USD
Internal Discount: 41.1%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=8f67c1da7de642feb640d04491409c50; mary_as_of=2026-07-25; mary_filing_date=2026-05-15; mary_accession=0001213900-26-056927; mary_cik=0001840563; gnni_supporting_filing_date=2026-05-15; internal_discount=0.411062; 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.

Back to Register Report a correction Archive