Event-Driven Stocks

Trailblazer Merger Corp I

TBMC

Financials · Blank Checks · DE · SEC filings ↗ · Compare ⊕

View price & chart on Yahoo Finance ↗
Signs● 2 good● 2 warning● 3 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23FY22
Revenue————
Operating income−$2.6M−$2.3M−$543,536−$4,020
Net income−$8.3M$277,658$1.3M−$4,020
Total assets$4.3M$27.7M$73.8M$301,853
Total liabilities$16.2M$7.2M$3.2M$282,040
Equity−$15.9M−$6.1M−$1.7M$19,813
EPS (diluted)——$0.19$0.00
Shares out.——7.2M406,849

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
—
Net margin
—
Return on equity
52.0%
Return on assets
−192.3%
Return on capital (ROCE)
—
Liabilities / assets
376.7%
Debt / equity
—
Book value / share
—
Revenue growth (YoY)
—
Net income growth (YoY)
−3085.7%

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-38.32distress
Accruals / assets
−133.2%clean
Piotroski F-Score
1/6weak

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
37
/ 100
Profitability 50Growth 0Catalyst 67Earnings quality 67Financial strength 0

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 3 severe● 2 warning● 2 good
  • Negative shareholder equity
  • Altman Z″ in the distress zone
  • Filed a late-filing notice (Form NT) — missed an SEC deadline
  • High leverage (liabilities > 70% of assets)
  • Negative operating cash flow
  • Strong return on equity (>15%)
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Risk flags

late SEC filings

A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Insider transactions

SEC Form 4 · most recent
2 acquisitions2 disposals2 open-market buy(s)net +687,730 shares · last 4
InsiderDateTypeSharesPrice
Aqr Capital Management Holdings, Llc10% ownerOct 11, 2024Sell80,172$11.02
Aqr Capital Management Holdings, Llc10% ownerOct 10, 2024Sell21,098$11.02
Hammer Joseph DDirectorMar 31, 2023Buy394,500$10.00
Trailblazer Sponsor Group, Llc10% ownerMar 31, 2023Buy394,500$10.00

Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
Mar 13, 202610,3311.0-15.2%
Feb 27, 202612,1811.2+833.4%
Feb 13, 20261,3051.0-80.0%
Jan 30, 20266,5421.0+235.8%
Jan 15, 20261,9481.0+6.3%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)