Emerson Radio Corp. (MSN): Business Model Canvas [Dec-2025 Updated]

You're looking at a classic case study in asset-light strategy: Emerson Radio Corp. (MSN). Honestly, when you see a company running on just 23 employees while holding $12.545 million in short-term investments, you know the business model is unique. They aren't building factories; they are managing a powerful, decades-old American brand name, focusing purely on licensing and importing value-driven electronics. With product sales hitting $10.79 million for FY2025, the real question is how this lean structure sustains the brand's presence across North American retailers. Dive into the Canvas below to see exactly how Emerson Radio Corp. (MSN) turns brand equity and cash reserves into market share.

Emerson Radio Corp. (MSN) - Canvas Business Model: Key Partnerships

You're looking at the structure of Emerson Radio Corp. (MSN), a company that runs an asset-light model, meaning its Key Partnerships are absolutely central to its operation, given it only employs 25 full-time staff as of December 2025. The entire business model hinges on others handling the heavy lifting of manufacturing and distribution. For the full fiscal year 2025, which ended March 31, 2025, this lean structure generated annual revenue of $10.79 million.

Strategic alliances with Original Design Manufacturers (ODMs) for production are the backbone of getting products made. Emerson Radio Corp. focuses on designing, sourcing, and marketing, which means the actual production of items like compact refrigerators, microwave ovens, clock radios, and Bluetooth speakers is outsourced. This partnership structure allows the company to maintain a very low direct operational footprint, evidenced by the fact that for the quarter ending September 30, 2025, Net Revenues were $1.215 million against a Cost of Sales of $1.216 million, suggesting near-total reliance on external sourcing costs.

Key relationships with major North American retailers for shelf space are critical for moving the volume necessary to sustain the business. Emerson Radio Corp. leverages established brick-and-mortar and online channels to distribute its value-oriented consumer electronics. While specific retailer names and their contribution percentages aren't public, the ability to generate $10.79 million in revenue in FY2025, despite a net loss of $4.73 million for that same year, shows the necessity of these high-volume sales channels.

Logistics and freight partners for global supply chain management are essential for an importing operation. Since the company focuses on sourcing products, managing the movement of goods from manufacturing locations to North American distribution points is entirely dependent on these third-party relationships. This external management of the physical supply chain is what supports the company's highly liquid position, holding approximately $18.9 million in working capital as of November 14, 2025, which acts as a buffer against supply chain volatility.

Licensing partners to extend the Emerson brand into new product categories is a significant differentiator, generating royalty revenue and expanding market reach without direct product development oversight. This strategy allows the Emerson brand to appear on a wider spectrum of goods, from personal care appliances to kitchen electrics. Historically, SEC filings have referenced license agreements, such as those with Funai Corporation, Inc., indicating a pattern of formalizing these brand extensions through contractual agreements.

Here's a quick look at the scale supported by these external relationships, using the latest available figures:

Metric	Value (As of Late 2025)
FY 2025 Annual Revenue	$10.79 million
FY 2025 Net Loss	$4.73 million
Total Employees	25
Working Capital	$18.9 million
Short-Term Investments (Sep 30, 2025)	$12.545 million

The company relies on these partnerships to manage its product portfolio, which includes:

• Microwave ovens
• Compact refrigerators
• Clock radios
• Bluetooth speakers

Finance: draft 13-week cash view by Friday.

Emerson Radio Corp. (MSN) - Canvas Business Model: Key Activities

Brand licensing and intellectual property management is a core activity, supporting the design, sourcing, and marketing of houseware and audio products, plus licensing its well-known brand name. The company's product portfolio includes compact refrigerators, microwave ovens, clock radios, and Bluetooth speakers. For the full fiscal year 2025, which ended March 31, 2025, the company reported annual revenue of $10.79 million, representing a 18.91% growth year-over-year.

Product design, sourcing, and quality control oversight is managed by the lean team, ensuring the delivery of low-to-moderately priced consumer electronics. The Chief Financial Officer of Asian Operations is involved in financial planning, budgeting, risk management, and investment analysis tailored to the dynamic Asian market, where sourcing is critical.

Managing a lean operation is central to the Emerson Radio Corp. (MSN) model. The company operates with only 23 employees. This structure translates into specific operational metrics for the fiscal year 2025.

Metric	Value
Employee Count	23
Revenue Per Employee (FY2025)	$379,957
Profits Per Employee (FY2025)	-$220,478
Asset Turnover (FY2025)	0.37

Maintaining a highly liquid balance sheet for strategic flexibility is a key activity, providing a buffer against volatile market conditions. The company posted a net loss of $2.18 million for the first six months of the 2025 fiscal year, making this liquidity crucial. As of September 30, 2025, Emerson Radio Corp. held $0.956 million in cash and cash equivalents, alongside $12.545 million in short-term investments.

The strength of the financial position as of late 2025 is evident in its ratios and working capital.

• Working Capital (as of November 14, 2025): Approximately $18.9 million.
• Current Ratio (as of November 2025): 17.25.
• Debt / Equity Ratio (as of November 2025): 0.02.
• Total Current Liabilities (as of 03/31/2025): $1.71 million.

The market capitalization was reported at $9.16 million, with an enterprise value of -$4.03 million.

Emerson Radio Corp. (MSN) - Canvas Business Model: Key Resources

You're looking at the core assets Emerson Radio Corp. (MSN) relies on to run the business, which is key for any deep-dive analysis. Honestly, for a company like this, the tangible and intangible assets are what really move the needle, so let's break down the numbers we see as of late 2025.

The long-standing Emerson legacy brand name is definitely a primary resource. This isn't just a name; it represents a history in consumer electronics dating back to 1948. That kind of longevity in the houseware and consumer electronics sector provides inherent consumer trust, which is hard to buy.

Financially, the balance sheet strength is a resource. We see highly liquid financial assets, including the stated $12.545 million in short-term investments. To give you some context on the overall financial footing based on the latest available data, the total assets were reported at $20.72 million, against total liabilities of $1.17 million in the latest reported quarter. That suggests a relatively lean liability structure supporting those assets.

The management structure is another critical resource. Emerson Radio Corp. (MSN) operates with what is described as a small, experienced management team. This structure often means quicker decision-making, but it also means key-person risk is higher. The market capitalization as of December 3, 2025, was approximately 8.8M, which reflects the market's current valuation of this team and its assets.

Finally, the company holds intellectual property rights for product designs and trademarks. These rights cover their product portfolio, which includes microwave ovens, smart home devices, and audio technologies. The total number of shares outstanding is reported at 21.04M, with an insider ownership level at 72.44%, which shows significant alignment among the core team.

Here's a quick look at some of the key financial and structural data points related to these resources:

Financial Metric	Value (USD)	Source Context/Date
Stated Short-Term Investments	$12.545 million	Required Outline Data Point
Total Assets (Latest Quarter)	$20.72 million
Total Liabilities (Latest Quarter)	$1.17 million
Market Capitalization	Approx. $8.8M	As of December 3, 2025
Shares Outstanding	21.04M

The operational structure is supported by these intangible and tangible holdings. You can see the concentration of ownership, which is a factor in how these resources are managed:

• Insider Ownership: 72.44%
• Institutional Ownership: 4.17%
• Shares on Float: 5.80M
• Short Percent: 0.47%

The stock price on November 26, 2025, in after-hours trading was $0.42, showing the market's immediate valuation of these underlying resources.

Finance: draft 13-week cash view by Friday.

Emerson Radio Corp. (MSN) - Canvas Business Model: Value Propositions

You're looking at a company that has survived for over a century by sticking to a core promise: delivering functional electronics without breaking the bank. The value proposition for Emerson Radio Corp. (MSN) is fundamentally about accessibility, built on the foundation of a recognizable, albeit niche, American brand name.

Affordable, value-driven consumer electronics and housewares

The entire model hinges on being 'value-driven.' This isn't about premium features; it's about offering products that meet a basic need at a price point the mass market accepts. The financial reality of late 2025 shows the razor-thin margins this strategy entails. For the second quarter of fiscal year 2026, which ended September 30, 2025, the Cost of Sales was approximately $1.216 million against Net Revenues of $1.215 million for that quarter. That's a near-zero gross margin, meaning the value is derived almost entirely from the brand and distribution, not manufacturing markup.

Reliable, basic functionality in mass-market products (e.g., clock radios)

The company focuses on products where reliability and simplicity trump cutting-edge technology. Think of the classic clock radio, now often bundled with Bluetooth speakers and USB ports. This focus allows Emerson Radio Corp. to maintain a lean operation, evidenced by only 23 employees as of late 2025. Their product offerings, like the SmartSet Dual Alarm Clock Radio, emphasize core functions like timekeeping and charging, which is what the target segment expects from a legacy name in this space.

Leveraging a trusted, decades-old American brand name

The brand equity is arguably the most critical asset, especially given the company's small scale and recent financial performance. Founded in 1912, the name carries weight, which supports their licensing revenue stream. While the company posted a net loss of $4.73 million for the full fiscal year 2025 (which ended March 31, 2025), the brand allows them to command a market capitalization of around $9.21 million as of December 4, 2025. This valuation, despite a trailing twelve-month net loss of $5.07 million, shows the market is pricing in the intangible value of the name and the strong balance sheet, which boasts a Current Ratio of 17.25.

Broad product portfolio from audio to compact appliances

Emerson Radio Corp. spreads its brand risk across a wide array of categories. This broad portfolio is managed with a very small internal team, relying heavily on sourcing and licensing. The strategy is to be present wherever a value-oriented electronic or houseware item might be sold.

Here's a look at the product categories that define this broad portfolio, which are the physical manifestation of their value proposition:

• Clock radios with Bluetooth and wireless charging
• Microwave ovens (e.g., 0.9 cu. ft., 1.3 cu. ft. models)
• Compact refrigerators and toaster ovens
• Televisions (LED, Smart TVs)
• Massagers and security products

To give you a clearer picture of the financial scale supporting this diverse offering, consider the following key metrics as of late 2025:

Metric	Value (As of Late 2025 Data)	Context
FY 2025 Total Revenue	$10.79 million	Revenue for the fiscal year ending March 31, 2025.
Market Capitalization	$9.21 million	As of December 4, 2025.
Shares Outstanding	21.04 million	Total shares used for market cap calculation.
Working Capital	Approx. $18.9 million	A substantial cushion as of November 14, 2025.
Debt / Equity Ratio	0.02	Indicates very low leverage relative to equity.
Revenue Per Employee	$379,957	High figure due to only 23 employees.

The value proposition is also reflected in the company's asset management, which is crucial when revenue is tight. Their financial position shows a commitment to liquidity over debt, which is a value proposition for creditors and investors looking for stability in a micro-cap stock. As of September 30, 2025, the company held $0.956 million in cash and cash equivalents, supplemented by $12.545 million in short-term investments. This focus on liquid assets helps them manage the inherent volatility of importing and marketing low-to-moderately priced goods.

The core value delivered to the customer segment can be summarized by the types of products they push through their distribution channels:

• Audio Products: Clock radios, Bluetooth speakers, karaoke machines.
• Houseware Products: Microwave ovens, compact refrigerators, toaster ovens.
• Other Products: Televisions, massagers, and security products.
• Licensing: Trademarks licensed for various other products.

If onboarding takes 14+ days, churn risk rises, but for Emerson Radio Corp., the risk is in maintaining product flow against the backdrop of a -23.21% Return on Equity (ROE) for the period ending late 2025.

Emerson Radio Corp. (MSN) - Canvas Business Model: Customer Relationships

You're looking at how Emerson Radio Corp. (MSN) connects with the people buying its consumer electronics, and honestly, it's a story of heavy reliance on intermediaries. The relationship is almost entirely hands-off for the company itself.

Transactional, primarily through retail and e-commerce partners

The core of customer interaction is the transaction, which happens far from Parsippany, New Jersey. Emerson Radio Corp. pushes product through established channels, meaning the end-user relationship is mediated by the retailer or online platform. This structure is key to their asset-light approach.

The scale of this reliance is clear when you look at the most recent quarterly figures. For the quarter ending September 30, 2025, customer concentration risk was significant, with 56% of net revenues coming from Amazon alone. This single partner drives more than half of the sales volume.

The distribution network, as previously detailed, involves major players:

• Walmart: Distribution across 4,742 stores nationwide.
• Best Buy: Distribution in 1,005 retail locations.

Here's a snapshot of the transactional relationship context as of late 2025:

Metric	Value (Late 2025/Most Recent Data)	Context
FY 2025 Total Revenue	$10.79 million	Total sales volume for the fiscal year.
Q2 FY2026 Net Revenues	$1.22 million	Revenue for the quarter ending September 30, 2025.
Amazon Revenue Concentration (Q2 FY2026)	56%	Percentage of quarterly net revenues from Amazon.
Market Capitalization	Approx. $9.57 million	Company valuation context as of late 2025.

Customer service and warranty support for product issues

Because the sales are transactional and partner-driven, post-sale support is often delegated or managed through established protocols. Emerson Radio Corp. provides customer support services to help consumers with troubleshooting and warranty claims, but this is typically channeled through online resources, dedicated hotlines, or directly through the third-party partners who handle specific product lines. This keeps the operational load low for the company.

Minimal direct engagement due to the asset-light model

The business model is structured to minimize direct, high-touch interaction with the end-user. You see this in how they handle investment inquiries, too; they do not offer a direct stock purchase plan, directing interested parties to contact their broker. The focus is on design, sourcing, and getting products onto shelves, not managing individual customer accounts or relationships.

The financial reality of the first six months of the 2025 fiscal year-a net loss of $2.18 million-reinforces the need to keep overhead, including direct customer management costs, minimal.

Maintaining brand defintely recognition through consistent product presence

The brand equity is a legacy asset, which is crucial when direct marketing is limited. The trademark has been maintained since 1912, giving the company over a century of brand recognition in consumer electronics. This history helps the products-like audio systems, microwaves, and clock radios-gain visibility on partner shelves.

The company's mission centers on delivering high-quality, value-driven electronics, which must translate into reliable product performance to maintain that long-standing brand trust, even when the sales are indirect. The portfolio includes:

• Audio systems
• Microwaves and toaster ovens
• Clock radios
• Wine coolers and compact refrigeration

Finance: review the Q2 FY2026 cost of sales against the $1.22 million revenue to assess margin pressure from tariff impacts mentioned in the Q2 commentary by Friday.

Emerson Radio Corp. (MSN) - Canvas Business Model: Channels

You're looking at Emerson Radio Corp. (MSN) and seeing a company that relies heavily on getting its value-oriented consumer electronics into the hands of the mass market. The company's primary service is the design, marketing, and distribution of its branded products, leveraging established retail channels across North America and internationally. For the full fiscal year 2025, which ended March 31, 2025, the company generated total Revenue of $\mathbf{\$10.79 \text{ million}}$. This revenue is split between direct product sales, which are the overwhelming driver, and brand licensing income. Given the lean operation of only $\mathbf{23}$ employees, channel management is critical to moving product volume.

The financial structure shows that product sales are the engine, but licensing provides an asset-light component to the overall distribution strategy. Here's a quick look at the known revenue components from the fiscal year 2025 reporting structure:

Revenue Stream Component	Implied Channel/Source	FY2025 Financial Context
Product Sales	Brick-and-mortar, E-commerce Marketplaces	Overwhelming driver of the $\mathbf{\$10.79 \text{ million}}$ total revenue
License / Royalty	Partner Channels (Licensing Agreements)	A key differentiator supporting an asset-light model

The products moving through these channels are diverse, spanning several consumer categories, which necessitates a broad channel strategy to maintain market presence:

• Houseware products like microwave ovens and compact refrigerators
• Audio products including clock radios and Bluetooth speakers
• Heaters and fans, toaster ovens, and security products
• Other electronics such as televisions and massagers

Major brick-and-mortar retail chains across North America form the backbone of the product distribution. The company maintains a significant market presence across North America. The recent Q2 FY2026 net revenues, reported at $\mathbf{\$1.215 \text{ million}}$ for the quarter ending September 30, 2025, reflect the ongoing sales activity through these physical outlets, though this figure was impacted by the discontinuation of a clock radio product at a major retailer. The action item for management is clearly to diversify away from single-retailer dependency.

E-commerce marketplaces and online retailers are an integral part of the distribution network, working alongside the physical retail presence. While specific revenue percentages for online versus in-store sales aren't broken out, the strategy explicitly involves managing both digital and physical distribution growth. The company's focus on value-driven products means it must compete effectively on price and visibility across all online platforms where consumers shop for mass-market electronics.

Direct sales to distributors and wholesalers are implied within the overall product distribution service, which involves managing relationships with retailers to ensure product availability. This layer of the channel structure is essential for a company with only $\mathbf{23}$ employees to service the broad North American market.

Licensing agreements that place the brand in partner channels are a strategic component, allowing Emerson Radio Corp. (MSN) to achieve broad market penetration with a more asset-light approach. This channel generates royalty revenue, which is a crucial, albeit smaller, part of the revenue mix compared to product sales. This licensing strategy helps keep the brand visible even when product sales face headwinds, such as the near-zero gross margin seen in Q2 FY2026.

Finance: draft 13-week cash view by Friday.

Emerson Radio Corp. (MSN) - Canvas Business Model: Customer Segments

You're analyzing Emerson Radio Corp. (MSN), and when you look at the customer segments, you see a company that has staked its entire existence on the value end of the consumer market. This isn't a premium play; it's about volume and accessibility, even if the latest numbers show the strain of that strategy. The entire business, which employs just 23 people, is geared toward serving customers who watch every penny.

Mass-market consumers prioritizing affordability and value

This is the bedrock of the Emerson Radio Corp. customer base. These are shoppers who need functional electronics and appliances but are not chasing the latest flagship technology. They are looking for the Emerson brand name-a legacy name from before 1994-on a product that simply works without breaking the bank. Honestly, when the company reports a full fiscal year 2025 revenue of only $10.79 million, you know every single sale in this segment is critical for survival.

The market capitalization as of late 2025, hovering around $9.57 million, confirms this is a micro-cap operation whose customer base is highly sensitive to price points.

Shoppers of low-to-moderately priced houseware and audio products

This group buys the specific items Emerson Radio Corp. designs, sources, and markets. They are the direct purchasers of the core product portfolio. Think about the products: clock radios, Bluetooth speakers, and karaoke machines fall squarely into the audio category, while compact refrigerators and microwave ovens anchor the houseware side. The financial reality of this segment is stark; for the quarter ending September 30, 2025, Net Revenues were $1.215 million against a Cost of Sales of $1.216 million. That near-zero gross margin shows you how razor-thin the pricing is for these shoppers.

The key offerings for this segment include:

• Clock radios and Bluetooth speakers
• Compact refrigerators and toaster ovens
• Televisions, including LED and Smart TVs
• Wireless charging products

Retailers seeking established, recognizable private-label brands

You can't reach the mass market without partners, so a major customer segment for Emerson Radio Corp. is the distribution channel itself. These are the national chains, discount outlets, and online marketplaces across North America, primarily the U.S. and Mexico, that need a recognizable brand name to fill shelf space without the overhead of developing their own line. Emerson Radio Corp. actively licenses its brand, including to other entities like RCA, which is a service that appeals directly to retailers wanting an established, trusted look. This asset-light approach lets the company serve these retailers with a flexible inventory management system.

Budget-conscious buyers of secondary home appliances

This segment often overlaps with the mass-market consumer but focuses specifically on items that supplement a primary kitchen or living area. These are not the main refrigerator or the primary television; they are the secondary or convenience items. The company's focus here is on affordability and accessibility, which is why you see items like heaters, fans, and personal care appliances like hair dryers in their portfolio. They are looking for utility over longevity, which fits the company's cost-focused sourcing model.

Here's a quick look at the financial scale of the business serving these customers as of late 2025:

Metric	Value (FY2025 Ended 3/31/2025)	Context
Annual Revenue	$10.79 million	Total sales from all customer segments.
Net Loss	$4.73 million	The cost of serving these segments in FY2025.
Market Capitalization	Approx. $9.57 million	The market's valuation of the entire customer-facing operation.
Employees	23	The lean team size managing all customer relationships and sourcing.

Finance: draft 13-week cash view by Friday.

Emerson Radio Corp. (MSN) - Canvas Business Model: Cost Structure

The Cost Structure for Emerson Radio Corp. (MSN) is heavily influenced by its asset-light model, which prioritizes outsourcing production and maintaining a minimal internal corporate footprint. This structure is designed to keep fixed costs low, though it introduces variable costs tied directly to sales volume, primarily through manufacturing and distribution.

Cost of Goods Sold (COGS) from outsourced manufacturing, which is high

Because Emerson Radio Corp. (MSN) designs and sources products, the Cost of Goods Sold represents the largest component of its total expenses relative to revenue. The reliance on outsourced manufacturing means that the cost of goods sold is highly variable. Based on the trailing twelve months (ttm) data available leading up to the November 2025 timeframe, the reported Gross Margin was only 5.09%. With trailing twelve-month Revenue at $8.74 million, the implied COGS is substantial:

Here's the quick math: Implied COGS = Revenue (1 - Gross Margin) = $8.74 million (1 - 0.0509) = approximately $8.29 million for the trailing twelve months. This high ratio of COGS to revenue is the defining characteristic of this cost structure.

General and administrative expenses for the lean corporate team

The corporate overhead is intentionally kept low by focusing on core competencies like brand management and licensing, rather than in-house production and large-scale operations. The company supports its operations with a very small team. As of late 2025, the reported employee count was just 23 individuals. The most recent concrete figure for Selling, General and Administrative (S,G&A) expenses found was $1.2 million for the three-month period ended December 31, 2023. This lean structure helps manage the negative operating leverage seen when sales are low.

Legal and professional fees for brand licensing and compliance

A significant portion of the non-COGS operating expenses is dedicated to maintaining the brand's legal standing and ensuring compliance across its diverse product lines and licensing agreements. While specific 2025 figures for these fees aren't itemized in the readily available summaries, they are a necessary, recurring cost to support the licensing revenue stream. These costs include intellectual property maintenance and regulatory adherence for imported goods.

Inventory holding and logistics costs for product distribution

Given the sourcing and importation model, logistics and inventory management are critical cost drivers outside of the direct manufacturing cost. The Inventory Turnover for the trailing twelve months was reported at 1.49 times, indicating that inventory sits for a relatively long period before being sold, which ties up working capital and incurs holding costs. The company's Current Ratio of 17.25 suggests strong liquidity to cover these short-term obligations, but the inventory itself is a major asset on the balance sheet that must be managed efficiently.

The primary cost structure elements for Emerson Radio Corp. (MSN) can be summarized as follows:

• High COGS: Driven by outsourced overseas manufacturing agreements.
• Lean G&A: Supported by only 23 employees.
• Variable Logistics: Costs tied to importation and distribution networks.
• Fixed Legal/IP: Essential spend to protect and license the core brand assets.

You can see how the key financial metrics from the trailing twelve months reflect this cost profile:

Metric	Amount (ttm)	Context
Revenue	$8.74 million	Total top-line sales for the last twelve months.
Implied COGS	~$8.29 million	Calculated based on 5.09% Gross Margin.
Gross Margin	5.09%	Indicates the high cost of goods sold relative to sales.
Net Income (Loss)	-$5.07 million	Reflects significant operating expenses exceeding gross profit.
Corporate Employees	23	Supports the lean corporate overhead strategy.

The company's financial position shows a net cash position of $13.10 million, which is important because it provides a buffer against the negative operating results, but the Interest Coverage ratio of -642.33 shows the operating losses are currently overwhelming any interest expense coverage.

Finance: draft 13-week cash view by Friday.

Emerson Radio Corp. (MSN) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Emerson Radio Corp. (MSN) and need the hard numbers as of late 2025. The business model relies on a mix of direct product sales and the monetization of its legacy brand name.

Product sales revenue forms the core of the top line. For the full fiscal year 2025, which concluded on March 31, 2025, Emerson Radio Corp. reported annual revenue of $10.79 million. This represented an 18.91% growth year-over-year compared to the prior fiscal year. To give you a sense of the more recent operational scale, net revenues for the quarter ending September 30, 2025, were reported as $1.22 million.

The revenue generated from product sales comes from a diverse portfolio of houseware and consumer electronic products. The company designs, sources, imports, and markets these items under the Emerson brand. This product offering is a key driver of the sales revenue stream.

• Microwave ovens
• Compact refrigerators
• Toaster ovens
• Clock radios
• Bluetooth speakers
• Karaoke machines

Beyond direct sales, a significant part of the Emerson Radio Corp. model involves licensing its well-known brand name to others for various products. While the specific dollar amounts for brand licensing fees and royalties from partners for FY2025 were not explicitly itemized in the available data, this activity is a stated component of how the company makes money, operating alongside its product sales.

The company also holds a substantial short-term investment portfolio, which generates interest income. However, the precise financial amount attributed to interest income for the fiscal year 2025 is not separately detailed in the public disclosures reviewed. The overall financial structure shows a company with a very lean operation, evidenced by only 23 employees as of December 5, 2025.

Here's a quick look at the key revenue figures we have for the relevant periods:

Revenue Metric	Amount	Period End Date
Annual Revenue (Product Sales)	$10.79 million	March 31, 2025 (FY2025)
Trailing Twelve Months Revenue	$10.26 million	June 30, 2025
Quarterly Revenue	$1.22 million	September 30, 2025 (Q2 FY2026)

The revenue streams are clearly weighted toward product sales, which are supported by the sourcing and marketing of items like microwaves and speakers. Finance: draft 13-week cash view by Friday.