decoded.report LIVE FROM SEC FILINGS
CASE FILE · OPENED JUST FOR YOU

CHSCO

CHS INC
LAST CLOSE… Wholesale-Farm Product Raw Materials
0
QUIET
RISK INDEX
= 0/100. WHY THIS NUMBER, PIECE BY PIECE.

THE READ The red-flag scanner came back clean this year.

FLAGS DILUTION CASH WHAT CHANGED VERDICT INSIDERS OUTSIDE RECORDS
01

Red Flags

2025-08-28 → 2026-08-28

We read every document this company filed with the SEC this year and counted the classic danger phrases. Where wording can be misleading, we open the actual documents and separate real warnings from accounting boilerplate. Each hit links to the exact document.

Dilution (at the market offering) 0 THIS YEAR · 12 ALL TIME

An ATM lets the company print and sell new shares into the market any day it wants. Every print dilutes your slice.

Reverse stock split 0 THIS YEAR · 2 ALL TIME

A reverse split shrinks the share count to lift the price above $1. Repeat reverse splits are the classic death-spiral signature.

Going concern doubt 0 THIS YEAR · 8 ALL TIME

Auditors flagged substantial doubt the company survives the next 12 months without new money.

Delisting / exchange risk 0 THIS YEAR · 1 ALL TIME

The exchange has threatened to kick the stock off. Delisting pressure usually ends in a reverse split or a fire-sale raise.

SOURCE: FULL-TEXT SEARCH OF THE COMPANY'S OFFICIAL SEC FILINGS. "REAL WARNINGS" = WE OPENED THE LINKED DOCUMENTS AND FILTERED PHRASES WRAPPED IN NEGATIONS, RESOLUTION LANGUAGE OR STANDARD CONTRACT TERMS. "AT LEAST" = MORE DOCUMENTS CARRY THE PHRASE THIS YEAR THAN WE COULD OPEN AND READ.

02

The Printing Press

How many shares exist, over time, exactly as the company reported in its own filings. In microcaps, a rising share count is how holders pay for everything: salaries, debts, and bad deals. Sudden collapses in the line are reverse splits, marked below.

0
SHARES OUTSTANDING TODAY
as reported in the 10-Q filed 2026-07-08

THIS COMPANY HAS NOT REPORTED ENOUGH PERIODS TO DRAW A TREND LINE YET. ONE NUMBER, CITED.

03

Cash Countdown

Cash in the bank against how fast the company burns it. When this hits zero, the next stop is usually a desperate raise at bad terms, and existing holders pay through dilution.

$497.61M
CASH ON HAND
latest reported quarter
+100.3%
CASH CHANGE QoQ
latest two reported quarters
2024·82024·112025·22025·52025·82025·112026·22026·5
CASH OVER TIME, LAST 8 REPORTED QUARTERS $794.87M → $497.61M TREND: -37.4%

RUNWAY = CASH ON HAND ÷ MONTHLY CASH BURN. SIMPLE ARITHMETIC ON THE COMPANY'S OWN REPORTED NUMBERS, NOT A PROJECTION.

04

What the Newest Filing Changed

The latest filings, translated into holder impact. Every number cites its form, date and SEC link.

Shares outstanding

Shares outstanding: nothing to compare. This company's filings do not publish a share count for two consecutive periods, so no honest change can be computed.

Cash and equivalents +100.3%

Cash and equivalents rose $248.47M to $497.61M ($249.14M, +100.3%) between 10-Q 2026-02-28 and 10-Q 2026-05-31.

NOW: $497.61M as of 2026-05-31 (10-Q, filed 2026-07-08)

WAS: $248.47M as of 2026-02-28 (10-Q, filed 2026-04-08)

Total assets -0.6%

Total assets fell to $20.78B (from $20.91B, -0.6%) between 10-Q 2026-02-28 and 10-Q 2026-05-31.

NOW: $20.78B as of 2026-05-31 (10-Q, filed 2026-07-08)

WAS: $20.91B as of 2026-02-28 (10-Q, filed 2026-04-08)

Total liabilities -4.4%

Total liabilities fell to $6.77B (from $7.08B, -4.4%) between 10-Q 2026-02-28 and 10-Q 2026-05-31.

NOW: $6.77B as of 2026-05-31 (10-Q, filed 2026-07-08)

WAS: $7.08B as of 2026-02-28 (10-Q, filed 2026-04-08)

Revenue +38.6%

Revenue rose $8.35B to $11.58B (+38.6%) between the period ended 2026-02-28 and the period ended 2026-05-31 (10-Q).

NOW: $11.58B as of 2026-05-31 (10-Q, filed 2026-07-08)

WAS: $8.35B as of 2026-02-28 (10-Q, filed 2026-04-08)

Cash burn / runway

Operating cash flow was positive ($201.21M) over the period ended 2026-05-31; no cash deficit to burn.

NOW: $201.21M as of 2026-05-31 (10-Q, filed 2026-07-08)

!

Critical 8-K Ledger

OFFICIAL NOTICES · 24 MO

When something material happens, the company itself must announce it in an 8-K under the SEC's numbered item system. These are those announcements, newest first: bankruptcy papers, exchange delisting warnings, auditor changes, financials pulled back. Read straight from the SEC filing index, no interpretation layer.

2026-08-26 ITEM 2.03 · NEW DIRECT OBLIGATION FILING ↗
2026-04-03 ITEM 5.02 · OFFICER / DIRECTOR EXIT FILING ↗
2025-12-08 ITEM 5.02 · OFFICER / DIRECTOR EXIT FILING ↗
2025-08-29 ITEM 2.03 · NEW DIRECT OBLIGATION FILING ↗
2024-12-09 ITEM 5.02 · OFFICER / DIRECTOR EXIT FILING ↗
2024-10-31 ITEM 2.03 · NEW DIRECT OBLIGATION FILING ↗
2024-08-28 ITEM 2.03 · NEW DIRECT OBLIGATION FILING ↗

SOURCE: THE ITEM NUMBERS THE COMPANY ITSELF PUT ON EACH 8-K IN THE SEC'S FILING INDEX. HOVER A STAMP FOR WHAT THAT ITEM MEANS FOR YOUR SHARES. OFFICIAL NOTICES INSIDE THE LAST 12 MONTHS ALSO FEED THE RISK INDEX ABOVE (CAPPED AT 15 POINTS).

2017·112018·22018·52018·82025·22025·52026·22026·5
QUARTERLY REVENUE, LAST 8 QUARTERS $8.03B → $11.58B TREND: +44.2%

EACH BAR IS ONE REPORTED QUARTER. GREEN = MOST RECENT QUARTER GREW VS THE ONE BEFORE.

!

Breaking Filing

8-K · 2026-08-26

An 8-K is the "something happened right now" filing. Here is what this one says, in the company's own words.

Item 1.01

Securitization Facility Amendment On August 26, 2026, CHS Inc. (the “ Company ”) entered into an Omnibus Amendment No. 16 (the “ Receivables Purchase Agreement and Sale Agreement Amendment ”), by and among Cofina Funding, LLC (“ Cofina Funding ”), an indirect subsidiary of the Company, as seller, the Company, as servicer, and, solely with respect to Section 7 of the Receivables Purchase Agreement and Sale Agreement Amendment, as the performance guarantor, CHS Capital, LLC (“ CHS Capital ”), as an originator, each of the conduit purchasers, committed purchasers and purchaser agents set forth on...

READ THE ORIGINAL FILING

05

The Verdict

HOLD · HIGH CONFIDENCE

A rules-based reading of the cited filing facts: a range with reasons, never a prediction.

HOLD
SCREENING VERDICT
HIGH confidence

BASIS FOR

+1

Revenue grew 38.6% period over period, a bullish signal in the filings.

AGAINST

−1

The filings do not publish a comparable share count for the last two quarters, so dilution could not be measured for this verdict.

−2

The filings do not report usable cash and operating-burn figures, so runway could not be computed for this verdict.

−3

No fair-value bracket: the filings (or the optional price feed) do not provide enough cited numbers to compute one honestly.

METHOD: DETERMINISTIC RULES OVER CITED SEC FILING FACTS: SHARE-COUNT CHANGE BETWEEN THE LAST TWO REPORTED QUARTERS (DILUTION), CASH-TO-BURN RUNWAY FROM THE MOST RECENT OPERATING CASH FLOW, PERIOD-OVER-PERIOD REVENUE GROWTH, AND A FAIR-VALUE RANGE ANCHORED TO CASH PER SHARE VS PRICE. THRESHOLDS ARE TUNABLE IN APP/VERDICT_ENGINE.PY. NOT A PREDICTION.

06

Insider Paper Trail

Every time an officer, director or big owner trades shares, the law makes them file a Form 4 within two business days. We read the actual filings: who traded, what kind of trade, how big, at what price.

PARSING FORM 4 FILINGS
who bought, who sold, at what price: straight from the SEC's own XML
07

Filing Timeline

The company's most recent SEC paperwork, newest first.

8-K 2026-08-26 0000823277-26-000029
8-K 2026-08-06 0000823277-26-000027
8-K 2026-07-08 0000823277-26-000025
10-Q 2026-07-08 0000823277-26-000023
8-K 2026-07-08 0000823277-26-000022
8-K 2026-04-08 0000823277-26-000017

SOURCE: THE COMPANY'S SEC FILING INDEX

08

Outside the Filings

Public records that most investors never check, cross-checked against what the company claims. This is where shells slip up.

chsinc.com
WEB ADDRESS ON RECORD
registered 1996-01-09 · via CSC Corporate Domains, Inc.
30.6 YRS OLD
DOMAIN AGE
old and consistent with an operating company: a good sign
0
OFFICIAL OFFERING DOCS · 12M
no completed stock sales to the public in a year
0
SHELF REGISTRATIONS · 12M
none filed: no dilution pipeline on record
0
BIG-OWNER TAKEOVER FILINGS · 12M
no outside investor has crossed the 5% disclosure line this year
PUBLIC FLOAT
shares actually tradable, vs held by insiders and big owners
SOLD SHORT
FINRA short interest: how many shares are bets against this company, and how many days of trading it would take to cover
CLEAR
US SANCTIONS SCREEN
company name checked against the official US sanctions list (19290 entries)
LEGAL IDENTITY (LEI)
every company that trades securities must carry a global legal identifier: status, parent chain and subsidiaries from the official registry
INSTITUTIONAL HOLDERS · 13F
quarterly institutional holdings filings scanned for this exact company name: which funds still report holding shares, from their own filings
SITE HISTORY
how long the company's website has been around, per the public web archive
CERT RECORD
public certificate logs date the company's web infrastructure: old and boring is good, brand-new is a tell
REGISTRANT HISTORY
old snapshots of public WHOIS pages: has the registered owner of this address changed hands
HOSTING + MAIL RECORDS
public DNS records: where the address is pointed and whether it can even receive mail

SOURCES: PUBLIC DOMAIN REGISTRATION RECORDS (FOUND IN THE COMPANY'S OWN FILING SIGNATURES) · THE COMPANY'S SEC FILING INDEX · OFFICIAL US SANCTIONS LIST · QUARTERLY 13F FILINGS VIA EDGAR FULL-TEXT SEARCH · LEGAL-IDENTITY, SITE-HISTORY, CERTIFICATE, REGISTRANT-HISTORY AND DNS SLOTS STREAM IN FROM FREE PUBLIC REGISTRIES WITHOUT BLOCKING THIS PAGE.

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09

Company Record

Legal nameCHS INC
Fiscal year end0831
HQ5500 CENEX DRIVE, INVER GROVE HEIGHTS, MN
Last periodic report2026-07-08 (10-Q, 51d ago)
Shares outstanding0 as of 2026-07-08 (10-Q)

SOURCE: THE COMPANY'S SEC FILING INDEX

Next time CHSCO files something scary, know within minutes.

One Telegram message per material filing: dilution, going concern, delisting, insider dumps. No account, no email. Every line cites its SEC source. Leave anytime with /unwatch.

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