BTCT — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($1.26)
DCF	$-39.85	-3262.4%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$7.82M

Near-term growth (yrs 1–5)(%)Rev: 23.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 35.58%

Computed WACC: 35.58%

Cost of equity (Re)36.13%(Rf 4.30% + β 5.79 × ERP 5.50%)

Cost of debt (Rd)19.21%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.34%

Debt weight (D/V)2.66%

Results

Intrinsic Value / share$-4.38

Current Price$1.26

Upside / Downside-447.9%

Net Debt (used)-$7.25M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	15.0%	19.0%	23.0%	27.0%	31.0%
7.0%	$-44.04	$-52.02	$-61.13	$-71.47	$-83.18
8.0%	$-35.01	$-41.32	$-48.51	$-56.67	$-65.91
9.0%	$-28.81	$-33.97	$-39.85	$-46.52	$-54.05
10.0%	$-24.30	$-28.63	$-33.55	$-39.13	$-45.44
11.0%	$-20.89	$-24.58	$-28.78	$-33.55	$-38.93

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $-0.78

Book Value / share($)Yahoo: $4.91

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$1.26

Margin of Safety—

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 35.58%

Terminal growth rate(%)

Computed WACC: 35.58%

Cost of equity (Re)36.13%(Rf 4.30% + β 5.79 × ERP 5.50%)

Cost of debt (Rd)19.21%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.34%

Debt weight (D/V)2.66%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.26

Implied Near-term FCF Growth—

Historical Revenue Growth23.0%

Historical Earnings Growth—

Base FCF (TTM)-$7.82M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$1.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$2.15M

Target EV/EBITDA multipleCurrent: -1.0×

Net Debt($B)Default: -$7.25M

Results

Implied Equity Value / share$1.00

Current Price$1.26

Upside / Downside-21.0%

Implied EV$2.22M

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