Lucide Ledger

A filing-first public record from Lucide House.

Issue 003 | U.S. Pilot | US

GFR

Greenfire Resources Ltd.

Screen state: Passing Source state: Verified 40-F | 2026-03-13 Filing currency: CAD
Open Filing Back to Register Report a correction
Internal NCAV Discount 96.2%

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

Current Assets
149,194,000CAD
Total Liabilities
118,587,000CAD
NCAV
21,730,365CAD
Cash
41,974,000CAD
NCAV per share
needs review
Evidence
3 annual | 0 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
3
Unavailable
4
Supporting observation Positive OCF 136,461,000
Latest
136,461,0002025-12-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations > 0

Source periods: SEC 40-F 2025-12-31 · 0001213900-26-027268

Supporting observation Share Count Reduced 125,407
Latest
125,4072025-12-31
Comparison
69,718,4642024-12-31
Change
-99.8%

Basis: 1Y share change <= -2% using the same share-count source

Source periods: SEC 40-F 2025-12-31 · 0001213900-26-027268; REPORTED_FILING 40-F 2024-12-31

Supporting observation Current Ratio > 1.5 1.56
Latest
1.562025-12-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 40-F 2025-12-31 · 0001213900-26-027268

4 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
High NCAV Burn since the previous filing NCAV burn since previous filing >= 10%; previous NCAV must be positive
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Non-Positive Equity ordinary shareholders equity <= 0

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 0001213900-26-027268 2026-03-13 40-F Verified Data Vault | sec/cleaned/cik=0001966287/accession=0001213900-26-027268/parser=html-cleaner-v1/full.txt
Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Only 0 quarterly periods available from Data Vault for this company.

quarterly periods are missing

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
40-F
CAD
2024-12-31
40-F
CAD
2023-12-31
20-F
CAD
Revenue n/a n/a n/a
Operating Income n/a n/a n/a
Net Income 47,504,000 121,411,000 -135,671,000
Cash From Operations n/a n/a n/a
Capex n/a n/a n/a
Free Cash Flow n/a n/a n/a
Cash And Equivalents 41,974,000 67,419,000 109,525,000
Accounts Receivable n/a n/a n/a
Inventory n/a n/a n/a
Total Current Assets n/a n/a n/a
Total Assets 1,285,444,000 1,257,471,000 1,173,483,000
Total Current Liabilities n/a n/a n/a
Total Liabilities 118,587,000 436,040,000 478,483,000
Shareholders Equity n/a n/a n/a
Shares Outstanding n/a n/a 68,642,515
Shares Outstanding Diluted n/a n/a n/a
Weighted Avg Shares Diluted n/a n/a n/a
Weighted Avg Shares Basic n/a n/a n/a
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

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

Only 0 quarterly periods available from Data Vault for this company.

Metric
Revenue
Operating Income
Net Income
Cash From Operations
Capex
Free Cash Flow
Cash And Equivalents
Total Current Assets
Total Liabilities
Shares Outstanding
Shares Outstanding Diluted
Weighted Avg Shares Diluted
Weighted Avg Shares Basic
Net Share Count Change (Normalized)
Ownership Claim Change (Normalized)
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 n/a derived 2025-12-31 n/a n/a
Total Liabilities 118,587,000CAD ifrs-full:Liabilities 2025-12-31 1.00 Data Vault | sec/companyfacts/cik=0001966287/companyfacts.json
Data Vault | sec/companyfacts/cik=0001966287/companyfacts.json
Cash 41,974,000CAD ifrs-full:CashAndCashEquivalents 2025-12-31 1.00 Data Vault | sec/companyfacts/cik=0001966287/companyfacts.json
Data Vault | sec/companyfacts/cik=0001966287/companyfacts.json
Shares Outstanding n/a n/a 2025-12-31 n/a n/a
NCAV n/a derived 2025-12-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share n/a derived 2025-12-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 96.2% derived 2025-12-31 n/a gnni_publication_pack | internal_discount

NCAV could not be calculated because one or more inputs are missing.

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001966287
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001966287/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001966287/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
3
Imported At
2026-08-15T12:52:03+00:00
Rendered At
2026-08-16T03:29:48+00:00

Run Audit

Mary Run
8f67c1da7de642feb640d04491409c50
Mary As Of
2026-07-25
Accession
0001213900-26-027268
CIK
0001966287
Mary Filing Date
2026-03-13
Filing Currency
CAD
Internal Discount
96.2%
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=2026-03-13; mary_accession=0001213900-26-027268; mary_cik=0001966287; gnni_supporting_filing_date=2026-03-13; internal_discount=0.96243; 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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