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CWLXF

C21 Investments Inc.
CIK 0000831609 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
18.6
composite ยท 4 signals ยท ELEVATED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-13 ยท FY 2026-03-31 ยท ELEVATED20.0

Zombie / distress

Altman Z'' -3.36 in the distress zone
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-06-12) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2026-03-31": 12.168,
    "2025-03-31": 4.364,
    "2024-01-31": 41.807,
    "2023-01-31": 8.661
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": -3.362,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 2278287,
    "interest_expense_t": 187241
  },
  "stale": false,
  "latest_filing_period": "2026-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/831609/000106299326003168/0001062993-26-003168-index.htm",
    "form": "20-F",
    "filed": "2026-06-12"
  }
}
P-01 ยท FY 2026-03-31 ยท CLEAN17.4

Earnings quality

Beneish M-Score -2.89 โ€” no manipulation profile
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-06-12) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -2.892,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.422,
    "GMI": 1,
    "AQI": 0.98,
    "SGI": 1.083,
    "DEPI": 0.894,
    "SGAI": 0.928,
    "LVGI": 0.841,
    "TATA": 0
  },
  "defaulted_to_neutral": [],
  "sloan_accruals": -0.0827,
  "inputs": {
    "revenue_t": 32614513,
    "revenue_t1": 30117880,
    "total_assets_t": 54418951,
    "net_income_t": -3243718,
    "cfo_t": 1363139
  },
  "stale": false,
  "latest_filing_period": "2026-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/831609/000106299326003168/0001062993-26-003168-index.htm",
    "form": "20-F",
    "filed": "2026-06-12"
  }
}
P-05 ยท FY 2026-03-31 ยท CLEAN0.0

Tax arbitrage

ETR 334.7% โ€” within normal range of statutory
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-06-12) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2026-03-31": 3.3467,
    "2025-03-31": 10.5126,
    "2024-01-31": 13.4623
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2026-03-31": -3.1367,
    "2025-03-31": -10.3026,
    "2024-01-31": -13.2523
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2026-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/831609/000106299326003168/0001062993-26-003168-index.htm",
    "form": "20-F",
    "filed": "2026-06-12"
  }
}
P-12 ยท FY 2026-03-31 ยท CLEAN21.2

Restatement predictor

F-Score 0.64 โ€” at or below the population base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-06-12) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.636,
  "probability": 0.00235,
  "components": {
    "rsst": -0.0827,
    "drec": -0.0012,
    "dinv": 0.0097,
    "soft": 0.9577,
    "dcs": 0.0851,
    "droa": 0.01,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2026-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/831609/000106299326003168/0001062993-26-003168-index.htm",
    "form": "20-F",
    "filed": "2026-06-12"
  }
}