Issue 006 | U.S. Pilot | US

DCOY

Decoy Therapeutics Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-08 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 50.0%

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

Current Assets: 8,357,652USD
Total Liabilities: 4,545,890USD
NCAV: 3,811,762USD
Cash: 7,820,608USD
NCAV per share: 7.17USD/share
Evidence: 10 annual | 20 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: 7

Requires inspection High NCAV Burn since the previous filing 3,811,762

Latest: 3,811,7622026-03-31
Comparison: 5,817,4222025-12-31
Change: -34.5%

Basis: NCAV burn since previous filing >= 10%; previous NCAV must be positive

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-214816; REPORTED_FILING 10-K 2025-12-31

Requires inspection Negative OCF -2,889,329

Latest: -2,889,3292026-03-31
Comparison: n/a
Change: n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-214816

Supporting observation Current Ratio > 1.5 1.84

Latest: 1.842026-03-31
Comparison: 1.5
Change: n/a

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

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-214816

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	0001193125-26-214816	2026-05-08	10-Q	Verified	Data Vault \| sec/cleaned/cik=0001615219/accession=0001193125-26-214816/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: 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	531,968531,968	531,968531,968	78,708944,491	2,9552,127,286	2,8912,081,839	21,441,157	21,441,157	1641,177	14,314,433	13,938,433	13,938,433	n/an/a	02,468,297	n/an/a	02,249,371	056,116,243	046,697,194	045,241,808	045,172,535	044,778,794	023,808,546	04,511,174	018,067,392	017,797,178	016,773,798
Weighted-average Basic Shares	n/an/a	n/an/a	20,562246,741	n/an/a	2,3111,663,922	1408,078	21,281,869	0338,638	14,194,609	13,264,620	13,037,547	02,671,148	02,391,964	02,124,511	02,081,023	044,756,201	046,255,210	041,365,955	017,968,664	013,951,283	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Weighted-average Diluted Shares	531,968531,968	96,96796,967	40,132481,587	2,9482,122,872	n/an/a	1962,210	n/an/a	1600,417	n/an/a	02,124,511	13,754,028	02,709,104	01,850,208	01,654,638	02,247,753	053,522,468	n/an/a	n/an/a	044,804,741	044,756,201	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Basic EPS	-4-4	-129-129	-14-14	-1-1	-1-1	-6-6	-5-5	-6-6	-0-0	-4-4	-4-4	-3-3	-2-2	-15-15	-12-12	-0-0	-0-0	-0-0	-0-0	-0-0	-0-0	n/an/a	n/an/a	n/an/a	n/an/a
Diluted EPS	-4-4	-129-129	-14-14	-1-1	-1-1	-6-6	-5-5	-6-6	-0-0	-4-4	-4-4	-3-3	-2-2	-15-15	-12-12	-0-0	-0-0	-0-0	-0-0	-0-0	-0-0	n/an/a	n/an/a	n/an/a	n/an/a
Basic-to-Diluted Share Difference	Insufficient evidence	Insufficient evidence	95.2%	Insufficient evidence	Insufficient evidence	135.8%	Insufficient evidence	77.3%	Insufficient evidence	-34.9%	23.6%	1.4%	-22.6%	-22.1%	8.0%	19.6%	Insufficient evidence	Insufficient evidence	149.3%	220.8%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Net Share Count Change	0.0%	575.9%	2563.9%	2.2%	144356.1%	0.0%	124.8%	18.9%	9.5%	0.0%	Insufficient evidence	11.7%	Insufficient evidence	2.1%	0.2%	500.9%	3.2%	0.2%	0.9%	88.1%	13094.2%	-75.0%	1.5%	6.1%	Insufficient evidence
Ownership Claim Change	0.0%	-85.2%	-96.2%	-2.1%	-99.9%	0.0%	-55.5%	-15.9%	-8.7%	0.0%	Insufficient evidence	-10.5%	Insufficient evidence	-2.0%	-0.2%	-83.4%	-3.1%	-0.2%	-0.9%	-46.8%	-99.2%	300.5%	-1.5%	-5.8%	Insufficient evidence

Verified split events: reverse 25.0 on 2020-12-31; reverse 5.0 on 2022-06-30; reverse 25.0 on 2022-10-14; reverse 8.0 on 2024-06-14; reverse 1000.0 on 2025-03-31; reverse 4.0 on 2025-08-15; reverse 15.0 on 2025-08-15; reverse 12.0 on 2026-03-06

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	n/a	n/a	n/a	0	1,840,216	5,233,301	3,465,055	838,142	1,274,499	1,010,663
Operating Income	-12,613,952	-5,734,316	-12,894,944	-31,841,140	-12,812,931	-7,786,345	-8,265,077	-22,074,223	-34,725,626	-39,886,232
Net Income	-12,518,480	-5,575,777	-12,542,693	-31,607,956	-12,768,238	-7,352,254	-6,936,263	-21,922,217	-34,433,662	-39,493,123
Cash From Operations	-4,827,188	-4,525,337	-12,846,137	-17,595,321	-10,200,197	-10,311,363	-11,580,096	-23,598,660	-27,722,198	-32,051,873
Capex	-577,000	0	n/a	n/a	0	-2,600	0	0	-113,498	-559,378
Free Cash Flow	-5,404,188	-4,525,337	n/a	n/a	-10,200,197	-10,313,963	-11,580,096	-23,598,660	-27,835,696	-32,611,251
Cash And Equivalents	10,709,937	2,434,528	5,899,910	12,106,435	29,214,380	11,118,614	3,738,900	9,829,624	19,186,036	n/a
Accounts Receivable	n/a	n/a	n/a	n/a	1,600,000	3,855,996	0	9,939	10,385	12,181
Inventory	n/a	n/a	n/a	n/a	n/a	n/a	n/a	186,920	431,891	454,132
Total Current Assets	10,985,160	2,987,562	6,519,673	14,520,298	30,163,595	15,796,660	4,694,799	10,315,166	34,535,137	62,467,269
Total Assets	11,056,707	3,022,974	6,586,523	14,650,799	40,833,868	24,932,321	13,894,398	10,389,626	34,992,772	63,214,979
Total Current Liabilities	5,167,738	1,511,279	n/a	n/a	n/a	n/a	n/a	1,106,870	5,847,670	3,889,195
Total Liabilities	5,167,738	1,511,279	1,299,241	4,266,191	2,110,883	2,773,133	3,313,544	1,106,870	5,886,884	3,897,593
Shareholders Equity	5,888,969	1,511,695	5,287,282	10,384,608	38,722,985	22,159,188	10,580,854	9,282,756	29,105,888	59,317,386
Shares Outstanding	8,006	1,441,157	3,938,433	2,255,899	45,241,808	23,808,546	4,511,174	18,067,392	17,797,178	16,773,798
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	96,967	962,210	3,264,620	2,124,511	41,365,955	15,578,611	3,268,637	18,016,841	17,260,626	16,233,985
Weighted Avg Shares Basic	96,967	962,210	3,264,620	2,124,511	41,365,955	15,578,611	3,268,637	18,016,841	17,260,626	16,233,985
Net Share Count Change (Normalized)	575.9%	0.0%	0.0%	2.1%	0.2%	13094.2%	-75.0%	1.5%	6.1%	Insufficient evidence
Ownership Claim Change (Normalized)	-85.2%	0.0%	0.0%	-2.0%	-0.2%	-99.2%	300.5%	-1.5%	-5.8%	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	2025-09-30 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	2023-12-31 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	2022-09-30 10-Q USD	2022-06-30 10-Q USD	2022-03-31 10-Q USD	2021-12-31 10-K USD	2021-09-30 10-Q USD	2021-06-30 10-Q USD
Revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0	0	0	0	0	0	0	571,387
Operating Income	-2,283,739	-9,034,562	-895,130	-965,565	-1,718,695	-1,488,713	-1,006,471	-1,467,517	-1,771,615	-970,701	-2,532,185	-3,971,395	-5,420,663	-6,477,880	-14,488,064	-4,757,967	-6,117,229	-4,144,856	-3,746,660	-3,116,820
Net Income	-2,224,628	-8,977,655	-873,467	-957,825	-1,709,533	-1,463,933	-972,121	-1,424,433	-1,715,290	-881,796	-2,442,816	-3,877,308	-5,340,773	-6,370,936	-14,409,457	-4,718,338	-6,109,225	-4,104,873	-3,737,100	-3,074,369
Cash From Operations	-2,889,329	-1,136,488	-1,646,689	-862,297	-1,181,714	-742,518	-1,356,672	-1,072,192	-1,353,955	-1,511,229	-3,749,026	-4,416,447	-3,169,435	-4,713,786	-5,741,090	-3,619,619	-3,520,826	-2,720,603	-1,582,024	-3,174,780
Capex	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
Free Cash Flow	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
Cash And Equivalents	7,820,608	10,709,937	4,809,680	794,886	1,798,380	2,434,528	3,284,029	3,272,823	4,373,205	5,899,910	7,580,588	11,541,443	9,273,682	12,106,435	16,820,220	22,647,005	24,193,554	29,214,380	31,903,727	33,079,389
Total Current Assets	8,357,652	10,985,160	6,064,938	1,359,578	2,305,086	2,987,562	3,822,646	3,513,891	4,830,269	6,519,673	8,323,784	11,956,250	9,940,307	14,520,298	17,966,032	23,015,166	24,856,408	30,163,595	35,184,139	38,306,810
Total Liabilities	4,545,890	5,167,738	1,848,967	2,222,502	2,277,526	1,511,279	934,581	1,178,469	1,234,121	1,299,241	2,320,525	3,641,496	4,496,298	4,266,191	3,110,447	2,769,855	2,092,341	2,110,883	1,612,292	1,553,635
Shares Outstanding	531,968	8,006	944,491	2,127,286	2,081,839	1,441,157	1,441,157	641,177	4,314,433	3,938,433	3,938,433	3,352,069	2,468,297	2,255,899	2,249,371	56,116,243	46,697,194	45,241,808	45,172,535	44,778,794
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
Weighted Avg Shares Diluted	531,968	96,967	481,587	2,122,872	1,663,922	962,210	1,281,869	600,417	4,194,609	4,178,375	3,754,028	2,709,104	2,391,964	2,124,511	2,247,753	53,522,468	46,255,210	45,153,312	44,804,741	44,756,201
Weighted Avg Shares Basic	531,968	96,967	481,587	2,122,872	1,663,922	962,210	1,281,869	600,417	4,194,609	4,178,375	3,754,028	2,709,104	2,391,964	2,124,511	2,247,753	53,522,468	46,255,210	45,153,312	44,804,741	44,756,201
Net Share Count Change (Normalized)	0.0%	575.9%	2563.9%	2.2%	144356.1%	0.0%	124.8%	18.9%	9.5%	0.0%	Insufficient evidence	11.7%	Insufficient evidence	2.1%	0.2%	500.9%	3.2%	0.2%	0.9%	88.1%
Ownership Claim Change (Normalized)	0.0%	-85.2%	-96.2%	-2.1%	-99.9%	0.0%	-55.5%	-15.9%	-8.7%	0.0%	Insufficient evidence	-10.5%	Insufficient evidence	-2.0%	-0.2%	-83.4%	-3.1%	-0.2%	-0.9%	-46.8%

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	8,357,652USD	us-gaap:AssetsCurrent	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json
Total Liabilities	4,545,890USD	us-gaap:Liabilities	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json
Cash	7,820,608USD	us-gaap:CashAndCashEquivalentsAtCarryingValue	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json
Shares Outstanding	531,968	us-gaap:CommonStockSharesOutstanding	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json Data Vault \| sec/companyfacts/cik=0001615219/companyfacts.json
NCAV	3,811,762USD	derived	2026-03-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	7.17USD	derived	2026-03-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	50.0%	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: Local evidence | The Data Vault
CIK: 0001615219
Company ID: n/a
Selected Annual Source: Data Vault | sec/companyfacts/cik=0001615219/companyfacts.json
Selected Quarterly Source: Data Vault | sec/companyfacts/cik=0001615219/companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 26
Imported At: 2026-08-15T12:51:51+00:00
Rendered At: 2026-08-16T03:30:06+00:00

Run Audit

Mary Run: 63eb9cbe01c34796bb5a9e8d156e6111
Mary As Of: 2026-08-15
Accession: 0001193125-26-214816
CIK: 0001615219
Mary Filing Date: 2026-05-08
Filing Currency: USD
Internal Discount: 50.0%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=63eb9cbe01c34796bb5a9e8d156e6111; mary_as_of=2026-08-15; mary_filing_date=2026-05-08; mary_accession=0001193125-26-214816; mary_cik=0001615219; gnni_supporting_filing_date=2026-05-08; internal_discount=0.500377; 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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