Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (SAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	82.87M	33.01M	29.80M	77.75M	39.09M
Cash & Short-Term Investments	83.62M	33.01M	29.80M	77.75M	39.09M
Receivables	22.34M	—	1.60M	1.02M	—
Current Assets	112.83M	35.04M	32.08M	81.98M	39.35M
PP&E	4.00M	3.61M	4.21M	4.67M	5.46M
Intangible Assets	—	153.78K	307.56K	461.34K	615.12K
Total Assets	184.14M	99.20M	97.00M	117.51M	80.82M
Liabilities
Accounts Payable	5.04M	0.49M	1.97M	—	—
Current Liabilities	25.63M	4.70M	9.48M	3.15M	1.82M
Total Debt	246.54K	—	244.28K	—	—
Total Liabilities	31.23M	9.34M	15.37M	11.03M	9.72M
Equity & Ownership
Retained Earnings	102.91M	39.86M	33.08M	57.76M	21.72M
Total Equity	152.91M	89.86M	81.63M	106.48M	71.10M
Net Debt	-83.38M	-33.01M	-29.56M	-77.75M	-39.09M
Shares Outstanding	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000
Cash & Assets
Total Assets	184.14M	99.20M	97.00M	117.51M	80.82M
Total Current Assets	112.83M	35.04M	32.08M	81.98M	39.35M
Cash & Equivalents	82.87M	33.01M	29.80M	77.75M	39.09M
Cash & Short-Term Investments	83.62M	33.01M	29.80M	77.75M	39.09M
Net Cash (Debt)	83.38M	33.01M	29.56M	77.75M	39.09M
Net Cash Per Share	16.68	6.60	5.91	15.55	7.82
Cash Growth	+153.4%	+10.7%	-61.7%	+98.9%	—
Net Cash Growth	+152.6%	+11.7%	-62.0%	+98.9%	—
Receivables	22.34M	—	1.60M	1.02M	—
Prepaid Expenses	4.08M	0.82M	—	2.57M	—
Land	1.25M	1.25M	1.25M	—	—
Buildings	1.25M	1.25M	1.25M	2.50M	2.50M
Machinery	3.96M	3.23M	2.83M	2.74M	2.70M
Leasehold Improvements	6.43M	6.09M	6.05M	6.05M	6.05M
Property, Plant & Equipment	4.00M	3.61M	4.21M	4.67M	5.46M
Other Intangible Assets	—	153.78K	307.56K	461.34K	615.12K
Other Current Assets	2.79M	1.21M	0.67M	0.65M	0.26M
Other Long-Term Assets	67.31M	60.40M	60.40M	30.40M	35.40M
Current Portion of Leases	246.54K	—	244.28K	—	—
Loans & Investments
Short-Term Investments	750.00K	—	—	—	—
Liabilities & Obligations
Total Liabilities	31.23M	9.34M	15.37M	11.03M	9.72M
Total Liabilities & Equity	184.14M	99.20M	97.00M	117.51M	80.82M
Total Current Liabilities	25.63M	4.70M	9.48M	3.15M	1.82M
Accounts Payable	5.04M	0.49M	1.97M	—	—
Accrued Expenses	6.50M	3.29M	3.02M	0.75M	0.57M
Current Income Taxes Payable	2.73M	0.91M	1.30M	2.07M	1.09M
Other Current Liabilities	11.11M	0.02M	2.95M	0.33M	0.16M
Pension & Post-Retirement Benefits	5.60M	4.63M	3.60M	2.88M	2.91M
Other Long-Term Liabilities	—	—	2.29M	5.00M	5.00M
Debt & Funding
Total Debt	246.54K	—	244.28K	—	—
Equity & Book Value
Shareholders' Equity	152.91M	89.86M	81.63M	106.48M	71.10M
Common Stock	50.00M	50.00M	50.00M	50.00M	50.00M
Retained Earnings	102.91M	39.86M	33.08M	57.76M	21.72M
Comprehensive Income & Other	—	—	-1.45M	-1.28M	-0.62M
Book Value Per Share	30.58	17.97	16.33	21.30	14.22
Tangible Book Value	152.91M	89.71M	81.32M	106.02M	70.49M
Tangible Book Value Per Share	30.58	17.94	16.26	21.20	14.10
Filing Date Shares Outstanding	5.00M	5.00M	5.00M	5.00M	5.00M
Total Common Shares Outstanding	5.00M	5.00M	5.00M	5.00M	5.00M
Working Capital	87.20M	30.33M	22.60M	78.83M	37.54M

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	82.87M	33.01M	29.80M	77.75M	39.09M
Cash & Short-Term Investments	83.62M	33.01M	29.80M	77.75M	39.09M
Receivables	22.34M	—	1.60M	1.02M	—
Current Assets	112.83M	35.04M	32.08M	81.98M	39.35M
PP&E	4.00M	3.61M	4.21M	4.67M	5.46M
Intangible Assets	—	153.78K	307.56K	461.34K	615.12K
Total Assets	184.14M	99.20M	97.00M	117.51M	80.82M
Liabilities
Accounts Payable	5.04M	0.49M	1.97M	—	—
Current Liabilities	25.63M	4.70M	9.48M	3.15M	1.82M
Total Debt	246.54K	—	244.28K	—	—
Total Liabilities	31.23M	9.34M	15.37M	11.03M	9.72M
Equity & Ownership
Retained Earnings	102.91M	39.86M	33.08M	57.76M	21.72M
Total Equity	152.91M	89.86M	81.63M	106.48M	71.10M
Net Debt	-83.38M	-33.01M	-29.56M	-77.75M	-39.09M
Shares Outstanding	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000
Cash & Assets
Total Assets	184.14M	99.20M	97.00M	117.51M	80.82M
Total Current Assets	112.83M	35.04M	32.08M	81.98M	39.35M
Cash & Equivalents	82.87M	33.01M	29.80M	77.75M	39.09M
Cash & Short-Term Investments	83.62M	33.01M	29.80M	77.75M	39.09M
Net Cash (Debt)	83.38M	33.01M	29.56M	77.75M	39.09M
Net Cash Per Share	16.68	6.60	5.91	15.55	7.82
Cash Growth	+153.4%	+10.7%	-61.7%	+98.9%	—
Net Cash Growth	+152.6%	+11.7%	-62.0%	+98.9%	—
Receivables	22.34M	—	1.60M	1.02M	—
Prepaid Expenses	4.08M	0.82M	—	2.57M	—
Land	1.25M	1.25M	1.25M	—	—
Buildings	1.25M	1.25M	1.25M	2.50M	2.50M
Machinery	3.96M	3.23M	2.83M	2.74M	2.70M
Leasehold Improvements	6.43M	6.09M	6.05M	6.05M	6.05M
Property, Plant & Equipment	4.00M	3.61M	4.21M	4.67M	5.46M
Other Intangible Assets	—	153.78K	307.56K	461.34K	615.12K
Other Current Assets	2.79M	1.21M	0.67M	0.65M	0.26M
Other Long-Term Assets	67.31M	60.40M	60.40M	30.40M	35.40M
Current Portion of Leases	246.54K	—	244.28K	—	—
Loans & Investments
Short-Term Investments	750.00K	—	—	—	—
Liabilities & Obligations
Total Liabilities	31.23M	9.34M	15.37M	11.03M	9.72M
Total Liabilities & Equity	184.14M	99.20M	97.00M	117.51M	80.82M
Total Current Liabilities	25.63M	4.70M	9.48M	3.15M	1.82M
Accounts Payable	5.04M	0.49M	1.97M	—	—
Accrued Expenses	6.50M	3.29M	3.02M	0.75M	0.57M
Current Income Taxes Payable	2.73M	0.91M	1.30M	2.07M	1.09M
Other Current Liabilities	11.11M	0.02M	2.95M	0.33M	0.16M
Pension & Post-Retirement Benefits	5.60M	4.63M	3.60M	2.88M	2.91M
Other Long-Term Liabilities	—	—	2.29M	5.00M	5.00M
Debt & Funding
Total Debt	246.54K	—	244.28K	—	—
Equity & Book Value
Shareholders' Equity	152.91M	89.86M	81.63M	106.48M	71.10M
Common Stock	50.00M	50.00M	50.00M	50.00M	50.00M
Retained Earnings	102.91M	39.86M	33.08M	57.76M	21.72M
Comprehensive Income & Other	—	—	-1.45M	-1.28M	-0.62M
Book Value Per Share	30.58	17.97	16.33	21.30	14.22
Tangible Book Value	152.91M	89.71M	81.32M	106.02M	70.49M
Tangible Book Value Per Share	30.58	17.94	16.26	21.20	14.10
Filing Date Shares Outstanding	5.00M	5.00M	5.00M	5.00M	5.00M
Total Common Shares Outstanding	5.00M	5.00M	5.00M	5.00M	5.00M
Working Capital	87.20M	30.33M	22.60M	78.83M	37.54M

Financials

Annual (SAR)

ADEER

Annual (SAR)