BDAI // Biddance AI Systems Inc. Class A Ordinary Share

DES <GO> NASDAQ RQD COCKPIT → CIK 0001742341 ↗

Technology • Computer Software: Prepackaged Software

$2.13 ▼ -0.25 (-10.53%)

MKT CAP: $21.4M • VOL: 35.8K

52W L $2 52W H $15,675

ROARABLE / RQD

E • 34/100

ALTMAN Z

3.44 SAFE

PIOTROSKI

4 / 9

BDAI // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

▼ DOWNGRADE // D- (RQD 35) -> E (RQD 34) AS OF 2026-11-03

ROARABLE E

RQD CONFIDENCE

34 / 100 -1D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Strong Sell — Forensic Risk / Avoid

01 MASSIVE / SEC XBRL

Forensic Fundamentals

6 / 20

CRITICAL

FCF +0% vs NI +0% • ROIC-WACC -13% • Z 3.44

02 INSTITUTIONAL TAPE & TREND

Whale & Options Flow

5 / 20

CRITICAL

52W RANGE 0% • VS 200D -99.8% • RSI 46.8

03 SEC XBRL CAPITAL ALLOCATION

Insider & Capital Conviction

[LOCKED] FLAGGED

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04 FRED 90D r-MATRIX

Macro Regime Fit

6 / 20

CRITICAL

HEADWIND • r(10Y)=+0.04 (+19bp) • r(OAS)=-0.03

05 10-K REDLINE AUDIT

Forensic 10-K Risk

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ALERT

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BDAI // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -96.66%⚡ TESTING RESISTANCE

2026-11-03O $2.52H $2.52L $2.13C $2.13VOL 91.9K

RES: $2.73SUP: $1.65SMA50: $2.56SMA200: $1,371.1

BDAI // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

ACCUMULATE CONVICTION: 66/100

BEAR 0

100 BULL

Biddance AI Systems Inc. Class A Ordinary Share (BDAI) exhibits 10.6% gross margins and -4.4% return on invested capital within Technology (Computer Software: Prepackaged Software), balanced against a 125.8x enterprise multiple and 4.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 10.6% gross profitability converts into -27.4% operating margin and -4.4% ROIC, outpacing sector cost of capital.

ROIC: -4.4% // GM: 10.6%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +125.0% paired with -6.78% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +125.0% // FCF YLD: -6.78%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 3.44 and Piotroski F-Score of 4/9 indicate low near-term refinancing stress.

ALTMAN Z: 3.44 // F-SCORE: 4/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 125.8x trailing P/E (105.7x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 125.8x // EV/EBITDA: —

02. Options Skew & Event Volatility Risk

Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $2.13 max pain.

IMPL MOVE: ±5.2% // P/C: 0.85

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Computer Software: Prepackaged Software require continuous execution to defend 2.8% net margins.

NET MARGIN: 2.8% // D/E: 0.45x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 105.7x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 125.8x

FORWARD P/E 105.7x

EV / EBITDA —

FCF YIELD -6.78%

GROSS MARGIN 10.6%

OPERATING MARGIN -27.4%

NET MARGIN 2.8%

ROIC % -4.4%

REV GROWTH YOY +125.0%

DILUTED EPS TTM $0.02

DEBT / EQUITY —

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 46.8

5Y EQUITY BETA —

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // BDAIPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $1.95

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for BDAI & activate live FRED threshold breach alerts.

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