Lucide Ledger

A filing-first public record from Lucide House.

Issue 009 | U.S. Pilot | US

MPU

Mega Matrix Inc

Screen state: Needs Review Source state: Needs Review 20-F | 2026-04-27 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 34.7%

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

Current Assets
17,667,400USD
Total Liabilities
4,355,500USD
NCAV
13,311,900USD
Cash
7,297,400USD
NCAV per share
0.22USD/share
Evidence
2 annual | 12 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
5
Requires inspection Material 1Y Share Increase 45,723,613
Latest
45,723,6132025-12-31
Comparison
37,998,7492024-12-31
Change
+20.3%

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

Source periods: SEC 20-F 2025-12-31 · 0001213900-26-047696; REPORTED_FILING 20-F 2024-12-31

Requires inspection Negative OCF -9,905,900
Latest
-9,905,9002025-12-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 20-F 2025-12-31 · 0001213900-26-047696

Supporting observation NCAV Growing 13,311,900
Latest
13,311,9002025-12-31
Comparison
9,554,5002024-12-31
Change
+39.3%

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

Source periods: SEC 20-F 2025-12-31 · 0001213900-26-047696; REPORTED_FILING 20-F 2024-12-31

5 unavailable checks — inspect missing inputs
Current Ratio <= 1.5 current assets / current liabilities <= 1.5
Current Ratio > 1.5 current assets / current liabilities
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
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 0001213900-26-044335 2026-04-16 20-F Missing Source Data Vault | sec/cleaned/cik=0001953021/accession=0001213900-26-044335/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 12 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.

High | Filing

Some rows do not have a verified direct filing URL in the local official filing cache.

Annual Financials

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

Metric
2025-12-31
20-F
USD
2024-12-31
20-F
USD
Revenue 26,105,600 36,184,000
Operating Income -28,930,500 -11,618,400
Net Income -34,296,300 -8,883,400
Cash From Operations -9,905,900 4,121,200
Capex n/a n/a
Free Cash Flow n/a n/a
Cash And Equivalents 7,297,400 8,870,800
Accounts Receivable 508,800 422,800
Inventory n/a n/a
Total Current Assets 17,667,400 14,908,500
Total Assets 22,427,300 19,462,300
Total Current Liabilities n/a n/a
Total Liabilities 4,355,500 5,354,000
Shareholders Equity 18,071,800 14,108,300
Shares Outstanding n/a 34,536,384
Shares Outstanding Diluted n/a n/a
Weighted Avg Shares Diluted 45,723,613 37,998,749
Weighted Avg Shares Basic 45,723,613 37,998,749
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence
Quarterly Financials

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

Only 12 quarterly periods available from Data Vault for this company.

Metric
2025-12-31
20-F
USD
2025-09-30
6-K
USD
2025-06-30
6-K
USD
2025-03-31
6-K
USD
2024-12-31
6-K
USD
2024-09-30
6-K
USD
2024-06-30
6-K
USD
2024-03-31
6-K
USD
2023-12-31
6-K
USD
2023-09-30
6-K
USD
2023-06-30
6-K
USD
2023-03-31
6-K
USD
Revenue -17,335,700 20,908,300 14,796,800 7,736,200 36,184,000 25,953,200 15,607,700 8,691,600 n/a n/a n/a n/a
Operating Income -8,712,400 -13,616,800 -4,063,700 -2,537,600 -11,618,400 -10,466,900 -7,779,000 -4,765,400 -5,264,900 -4,320,400 n/a n/a
Net Income -15,568,200 -14,786,000 -1,464,200 -2,477,900 -8,883,400 -7,043,100 -3,572,600 -1,935,700 -4,065,200 -3,916,300 -1,571,100 -1,236,900
Cash From Operations 3,765,700 -7,475,300 -3,985,800 -2,210,500 4,121,200 4,915,100 8,142,100 -96,900 -3,001,400 -1,965,200 n/a n/a
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
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
Cash And Equivalents 7,297,400 9,766,100 4,006,000 6,756,500 8,870,800 9,948,100 n/a n/a 3,129,800 n/a n/a n/a
Total Current Assets 17,667,400 38,001,000 12,063,700 12,738,200 14,908,500 17,692,700 n/a n/a 11,570,600 n/a n/a n/a
Total Liabilities 4,355,500 5,293,400 5,685,800 5,382,700 5,354,000 6,637,400 n/a n/a 2,941,600 n/a n/a n/a
Shares Outstanding n/a n/a n/a n/a 34,536,384 n/a n/a n/a n/a n/a n/a n/a
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
Weighted Avg Shares Diluted 61,782,495 50,955,828 35,054,141 34,747,402 37,998,749 39,207,664 37,038,070 35,271,740 31,323,124 31,724,631 n/a n/a
Weighted Avg Shares Basic 61,782,495 50,955,828 35,054,141 34,747,402 37,998,749 39,207,664 37,038,070 35,271,740 31,323,124 31,724,631 n/a n/a
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence 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 17,667,400USD derived 2025-12-31 1.00 n/a
Total Liabilities 4,355,500USD derived 2025-12-31 1.00 n/a
Cash 7,297,400USD derived 2025-12-31 1.00 n/a
Shares Outstanding 61,782,495 derived 2025-12-31 1.00 n/a
NCAV 13,311,900USD derived 2025-12-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 0.22USD derived 2025-12-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 34.7% derived 2025-12-31 n/a gnni_publication_pack | internal_discount

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

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001953021
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001953021/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001953021/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
7
Imported At
2026-09-06T14:44:57+00:00
Rendered At
2026-10-04T14:25:13+00:00

Run Audit

Mary Run
f144d1b5c8da4ec5944a0653554ce5d9
Mary As Of
2026-09-06
Accession
0001213900-26-047696
CIK
0001953021
Mary Filing Date
2026-04-27
Filing Currency
USD
Internal Discount
34.7%
Source State
Needs Review
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=f144d1b5c8da4ec5944a0653554ce5d9; mary_as_of=2026-09-06; mary_filing_date=2026-04-27; mary_accession=0001213900-26-047696; mary_cik=0001953021; gnni_supporting_filing_date=2026-04-16; internal_discount=0.347389; 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.; source requires review

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