{
  "docId": "019dd923-622c-750b-8b9a-be05b71d1b13",
  "docSlug": "84906d5a47c0",
  "documentTitle": "Focus Universal Inc. (FCUV)",
  "authorId": "61_White_Diamond_Research",
  "authorName": "Steve Silver",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-11-18 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 2,
  "pageCount": 6,
  "prevPage": 1,
  "nextPage": 3,
  "slideType": "executive_summary",
  "function": "summarize",
  "density": "balanced",
  "nDataPoints": 36,
  "notes": "The slide includes a detailed investment thesis and a peer comparison table for FCUV, SQNS, CMBM, and VVNT.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "comparison_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-be05b71d1b13/2",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-be05b71d1b13",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-be05b71d1b13.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-be05b71d1b13#slide-2",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Based on our valuation analysis, we arrive at a fair value estimate for FCUV of $15 per share, well above current levels near $8.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-70f9-71ae-a672-649de356c2f4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "fair value: $15",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-70f9-71ae-a672-682b3031f636",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.43,
        "x": 0.06,
        "y": 0.09
      },
      "kind": "paragraph",
      "text": "Based on our valuation analysis, we arrive at a fair value estimate for FCUV of $15 per share, well above current levels near $8.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2623b51-ad07-42d9-8132-aa02bf35a17a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.62,
        "w": 0.88,
        "x": 0.06,
        "y": 0.18
      },
      "kind": "subtitle",
      "text": "Detailed investment thesis covering Focus Universal's history, core technologies (USIP, DoC, etc.), and market growth strategy in IoT.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a82272ee-a27c-455a-84f8-dc85653646f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.88,
        "x": 0.06,
        "y": 0.828
      },
      "kind": "table",
      "text": "Peer comparison table showing financial metrics for FCUV, SQNS, CMBM, and VVNT.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "385cfb90-ef9b-4063-a21b-854e807e8a9a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.018,
        "w": 0.265,
        "x": 0.667,
        "y": 0.043
      },
      "kind": "title",
      "text": "EQUITY RESEARCH REPORT",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "189c7754-8f6f-4af6-9df5-3633040ecdaf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.26,
        "x": 0.06,
        "y": 0.15
      },
      "kind": "title",
      "text": "INVESTMENT THESIS",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "63f0dcff-ce06-48aa-a8f4-c9fbbd2edf06",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 2,
      "from": 2,
      "beatId": "8444cec1-567d-4375-b9cf-530c8005108f",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Market Size",
      "beatSlug": "sequoia-pitch-market-size",
      "evidence": "The recent developments section may imply a discussion of the market context.",
      "position": 1,
      "confidence": 0.7,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}