SST_OUT_1 [2025-05-06 07:19:37 -0400] 2365 Bytes | 569 tokens | Cum: 569 tkns (7.11% of 8k)
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Much activity, there is. System1 (SST), lifted from $0.4578 to $0.5100, it has. 7:19 AM on Tue May 06, 2025, it is. Wise we must be, quick we must act. Hmmm.

==============
-> THE ROLE FOR AI:
==============

1) You are the **AI analyst-investigator**, and this interaction represents a full **due diligence session** for System1 (SST).
Due diligence includes financial data, insider trading, relevant news, and any SEC filings — and may extend beyond classic fundamentals.

Your task is to analyze news, filings, fundamentals, and trading data to prepare evidence-based insights on company summary, price target, squeeze potential, sentiment, catalyst, ethical rating, market momentum, stability, and improvement suggestions. The final prompt will present an opportunity to answer these.

2) I am **ScanScor**, a unified report generator that archives this session as part of our real-time diligence record.

3) You can request information by referencing documents by their code.

4) As the analysis proceeds, your are encouraged to review documents until you feel confident in your judgment.
After seeing 3 sets of news articles, SEC docs, and financials, you'll be prompted to return some data pairs.

5) News articles, SEC filings, and key metrics will be revealed in subsequent prompts.

Restrict all your responses to just 3 tokens until the summary and data pairs at the end.

--- COMPANY PROFILE ---
Company: System1 (SST)
IPO: 2022-01-28 (3 Years Ago)
Market Cap: $22,941,635
Shares Outstanding: 74,510,000
Industry: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Exchange: XNYS
Description: System1 Inc develops technology and data science to operate a responsive acquisition marketing platform. It serves customers in the areas of health and wellness, automotive, finance, travel, and entertainment. The company's segment includes Owned and Operated Advertising (O&O); and Partner Network. It generates maximum revenue from the Owned and Operated Advertising (O&O) segment. Geographically, it operates in United States and Other countries.

Prior AI Reports for SST:
1. 2025-04-25 – Score: 28 – Target: 0.3100 – Highs: 0.4750 / 0.4207 / 0.42
system1-faces-financial-woes-despite-recent-price-surge

(Note: Highs = Same day / 2nd day / 3rd day)

If you're ready to see some news headlines, just say: `YES`.

SST_OUT_3 [2025-05-06 07:19:37 -0400] 251 Bytes | 78 tokens | Cum: 648 tkns (8.10% of 8k)
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You just read a chunk of A1.
You may now:
- Say "MOR" to continue this article
- Say "A2", "A3", etc. to request another
- Or say "NEX" to move to the next source

You are allowed up to 3 articles from this list. If you’re ready to move on, say NEX.

SST_OUT_5 [2025-05-06 07:19:38 -0400] 3215 Bytes | 1034 tokens | Cum: 1685 tkns (21.06% of 8k)
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Apr-29-25 04:01PM - System1 to Report First Quarter 2025 Financial Results
Mar-10-25 04:05PM - System1 Announces Fourth Quarter and Full Year 2024 Financial Results
Feb-24-25 04:01PM - System1 to Report Fourth Quarter & Full Year 2024 Financial Results
Jan-10-25 04:30PM - System1 Receives Notice of Non-Compliance with New York Stock Exchange Trading Share Price Listing Rule
Dec-18-24 09:00AM - System1 to Participate in the 2025 ICR Conference and 27th Annual Needham Growth Conference
Nov-25-24 04:20PM - AI Ads Can Look Weird. Brands Like Coca-Cola Are Making Them Anyway.
Nov-18-24 09:00AM - System1 to Participate in Upcoming Investor Conferences
Nov-07-24 04:05PM - System1 Announces Strong Third Quarter 2024 Financial Results
Oct-24-24 09:00AM - System1 to Report Third Quarter 2024 Financial Results
Oct-14-24 09:05AM - MapQuest, the Online Mapping Pioneer, Is Back! MapQuest Unveils Private Mapping App that Protects Your Privacy & Keeps Your Data Away from Big Tech
Aug-08-24 10:00PM - SST Stock Earnings: System1 Beats EPS, Beats Revenue for Q2 2024
Aug-08-24 10:00PM 04:05PM - System1 Announces Second Quarter 2024 Financial Results Above High-End of Guidance
Jul-25-24 09:00AM - System1 to Report Second Quarter 2024 Financial Results
May-13-24 10:50AM - System1, Inc. (NYSE:SST) Q1 2024 Earnings Call Transcript
May-09-24 08:59PM - SST Stock Earnings: System1 Beats EPS, Beats Revenue for Q1 2024
May-09-24 08:59PM 04:05PM - System1 Announces First Quarter 2024 Financial Results
May-09-24 08:59PM 09:00AM - System1 to Participate in the 19th Annual Needham Technology, Media, & Consumer Conference
May-03-24 09:00AM - System1 to Report First Quarter 2024 Financial Results
Mar-19-24 09:40AM - System1, Inc. (NYSE:SST) Q4 2023 Earnings Call Transcript
Mar-18-24 10:52AM - SST Stock Earnings: System1 Beats EPS, Beats Revenue for Q4 2023
Mar-18-24 10:52AM 06:00AM - System1 Announces Fourth Quarter and Full Year 2023 Financial Results

This is our final list of news.
News AI can literally read just by asking.
Don't miss the breaking news!

B1 - 2024-07-12T11:35:46Z - System1 And 2 Other Stocks Under $2 Insiders Are Buying - Benzinga
B2 - 2024-07-03T00:17:19Z - CEE Holdings trust buys System1 shares worth over $236k By Investing.com - Investing.com
B3 - 2023-12-13T13:35:49Z - Top 5 Tech And Telecom Stocks That May Crash In December
B4 - 2023-09-06T17:16:12Z - Why Core & Main Are Trading Lower By 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
B5 - 2023-04-17T15:03:26Z - Moderna, Roblox, State Street And Other Big Stocks Moving Lower On Monday
B6 - 2023-03-16T18:58:40Z - Nasdaq Surges Over 250 Points; Crude Oil Up 1%
B7 - 2022-12-06T15:31:06Z - Why This JPMorgan Bear Turned Bullish In A Heartbeat
B8 - 2022-11-16T10:01:25Z - Why Fast Radius Shares Plunged Around 48%; Here Are 103 Biggest Movers From Yesterday
B9 - 2022-11-08T14:43:36Z - Benzinga's Top Ratings Upgrades, Downgrades For November 8, 2022
B10 - 2022-10-25T21:41:06Z - 12 Communication Services Stocks Moving In Tuesday's After-Market Session

Request an article by its reference number. (Ex., "B1" gets the first item)
You can say NEX to go to the next listing.
Response limited to 3 chars.

SST_OUT_7 [2025-05-06 07:19:39 -0400] 741 Bytes | 206 tokens | Cum: 1893 tkns (23.66% of 8k)
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Showing B1 (chunk 1 of 1): B1:
**System1 And 2 Other Stocks Under $2 Insiders Are Buying - Benzinga**Date: Unknown DateSource: Unknown SourceURL: https://www.benzinga.com/trading-ideas/long-ideas/24/07/39746992/system1-and-2-other-stocks-under-2-insiders-are-buyingInsiders have been buying shares in System1, Allied Gaming & Entertainment, and Earth Science Tech, all penny stocks under $2. The insider purchases indicate confidence in the companies' prospects.

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_9 [2025-05-06 07:19:40 -0400] 812 Bytes | 214 tokens | Cum: 2109 tkns (26.36% of 8k)
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This is our list of SEC filings.
If empty, the search returned no recent filings.

S9 - 2025-03-10 10-K Item 7. Management's Discussion and Analysis of Fin Cond and Results of Oper.

Unless otherwise indicated or the context otherwise requires, references in this section to "the Company," "System1," "we," "us," "our" and other similar terms refer to System1, Inc ...

S10 - 2025-03-10 8-K Item 2.02 - Results of Oper and Fin Cond

On March 10, 2025, System1, Inc. (the Company) issued a press release announcing financial results for its quarter and year ended December 31, 2024. The full text of the Companys press release is attached as Exhibit 99....

Request filing by its reference number. (Ex., "S1" gets the first item)
You can say NEX to go to the next listing.
Response limited to 3 chars.

SST_OUT_11 [2025-05-06 07:19:41 -0400] 1204 Bytes | 261 tokens | Cum: 2372 tkns (29.65% of 8k)
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Showing S9 (chunk 1 of 6): S9:
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Unless otherwise indicated or the context otherwise requires, references in this section to "the Company," "System1," "we," "us," "our" and other similar terms refer to System1, Inc and its subsidiaries.

The following discussion and analysis of the financial condition and results of operations of System1 should be read together with our consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K. The following discussion and analysis should also be read together with the section entitled "Organization and description of business" in Part II as of December 31, 2024. In addition to historical information, the following discussion and analysis contains forward-looking statements. Our actual results may differ significantly from those projected

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_13 [2025-05-06 07:19:41 -0400] 1204 Bytes | 249 tokens | Cum: 2623 tkns (32.79% of 8k)
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Showing S9 (chunk 2 of 6): in such forward-looking statements. Factors that might cause future results to differ materially from those projected in such forward-looking statements include, but are not limited to, those discussed in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements." in Part I of this Annual Report on Form 10-K.

Company Overview

We operate an omnichannel customer acquisition platform, delivering high-intent customers to brands, advertisers and publishers .

We provide our omnichannel customer acquisition platform services through our proprietary responsive acquisition marketing platform ("RAMP"). Operating seamlessly across major advertising networks and advertising category verticals to acquire end-users, RAMP allows us to monetize these acquired end users through our relationships with third party advertisers and advertising networks ("Advertising

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_15 [2025-05-06 07:19:42 -0400] 1204 Bytes | 266 tokens | Cum: 2891 tkns (36.14% of 8k)
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Showing S9 (chunk 3 of 6): Partners"). RAMP operates across our network of owned and operated websites, allowing us to monetize user traffic that we source from various acquisition marketing channels, including Google, Meta, Outbrain, and TikTok. RAMP also allows third party advertising platforms and publishers ("Network Partners") to send user traffic to, and monetize end user traffic on, our owned and operated websites or through our monetization agreements.

Through RAMP, we process daily advertising campaign optimizations and ingest over 12 billion rows of data daily across approximately 40 advertising vertical categories as of December 31, 2024. We are able to efficiently monetize user intent by linking data on consumer engagement, such as first party search data like traffic sources, device type and search queries, with data on monetization rates and advertising spend. This context-enriched data, combined

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_17 [2025-05-06 07:19:43 -0400] 1204 Bytes | 248 tokens | Cum: 3141 tkns (39.26% of 8k)
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Showing S9 (chunk 4 of 6): with our proprietary and data science driven algorithms, creates a closed-loop system that is not reliant on personally identifiable information or information obtained through third-party cookies, but which allows RAMP to efficiently match consumer demand with the appropriate advertiser or advertising experience across advertising category verticals.

We focus on monetizing user traffic acquired by our Network Partners. Since launching, it has expanded to support additional advertising formats across multiple advertising platforms, and has acquired several leading websites, enabling it to control the entire flow of the user acquisition experience, while monetizing user traffic through our network of owned and operated websites. As of December 31, 2024, we own and operate approximately 40 websites, including leading search engines like info.com and Startpage.com , and digital media publ

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_19 [2025-05-06 07:19:46 -0400] 1204 Bytes | 249 tokens | Cum: 3392 tkns (42.40% of 8k)
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Showing S9 (chunk 5 of 6): ishing websites and internet utilities, such as HowStuffWorks , MapQuest , CouponFollow and ActiveBeat .

Our primary operations are in the United States, and we also have operations in Canada and the Netherlands. Operations outside the United States are subject to risks inherent in operating under different legal systems as well as various political and economic environments. Among the risks are changes in existing tax laws, changes in the regulatory framework in foreign jurisdictions, data privacy laws, possible limitations on foreign investment and income repatriation, government foreign exchange controls, exposure to currency exchange fluctuations and employment laws impacting foreign employees. We do not engage in hedging activities to mitigate our exposure to fluctuations in foreign currency exchange rates.

As a result of the current uncertainty in economic activity, including g

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_21 [2025-05-06 07:19:46 -0400] 813 Bytes | 215 tokens | Cum: 3609 tkns (45.11% of 8k)
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Showing S9 (chunk 6 of 6): eopolitical developments and other macroeconomic factors such as rising interest rates, inflation and the impact of earlier supply chain disruptions, we are unable to predict the size and duration of the impact on our revenue and our results of operations.

The Trebia Merger

On June 28, 2021, we entered into a Business Combination Agreement (as amended on November 30, 2021, January 10, 2022 and January 25, 2022), ("Business Combination Agreement") by and among us, S1 Holdco, LLC ("S1 Holdco") and...

Respond with ONE of the following (3 characters max):
- `MOR` for the next chunk of this item
- `NEX` to move on to the next set of data
- `XX` Get another document from the list above (e.g., A1, B4, S3)
**DO NOT SUMMARIZE. DO NOT EXPLAIN.** Wait until all data is presented.

SST_OUT_23 [2025-05-06 07:19:54 -0400] 7421 Bytes | 2077 tokens | Cum: 5688 tkns (71.10% of 8k)
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This is our set of metrics for System1.
Please analyze the numbers.

+---------------------+-----------------------+-------------------------+------------------------+
| Volume: 43,098 | Perf Month: 24.25% | Option/Short: Yes / Yes | Sales Y/Y TTM: -31.08% |
+---------------------+-----------------------+-------------------------+------------------------+
| Avg Volume: 138.34K | Perf Quarter: -36.31% | Short Float: 18.45% | ROE: -69.29% |
+---------------------+-----------------------+-------------------------+------------------------+
| Rel Volume: 0.30 | Index: RUT | Short Ratio: 12.08 | ROI: -22.17% |
+---------------------+-----------------------+-------------------------+------------------------+
| RSI (14): 51.06 | Market Cap: 38.40M | Short Interest: 1.67M | Sales Surprise: 2.54% |
+---------------------+-----------------------+-------------------------+------------------------+
| ATR (14): 0.06 | Shs Outstand: 73.65M | Beta: 1.37 | EPS Surprise: 13.79% |
+---------------------+-----------------------+-------------------------+------------------------+
| SMA20: 14.06% | Shs Float: 9.06M | Sales Q/Q: -21.35% | P/E: - |
+---------------------+-----------------------+-------------------------+------------------------+
| SMA50: -3.09% | Inst Own: 10.98% | Sales past 5Y: -14.35% | Earnings: May 06 AMC |
+---------------------+-----------------------+-------------------------+------------------------+
| SMA200: -52.78% | Insider Own: 87.84% | Employees: 300 | |
+---------------------+-----------------------+-------------------------+------------------------+
| Perf Week: 7.29% | Insider Trans: 0.00% | Debt/Eq: 3.43 | |
+---------------------+-----------------------+-------------------------+------------------------+

The next section covers any insider trading by System1 officers or majority shareholders (if available).

Inside Trans: System1, Inc. (SST) by Weinrot Daniel J (General Counsel & Secretary) on 2025-04-28
- Class A Common Stock: 1905 shares at $0.41 (D)

Inside Trans: System1, Inc. (SST) by Sestanovich Elizabeth (Chief People Officer) on 2025-04-28
- Class A Common Stock: 1342 shares at $0.41 (D)

Inside Trans: System1, Inc. (SST) by Coppola Brian (Chief Ad Operations Officer) on 2025-04-28
- Class A Common Stock: 2052 shares at $0.41 (D)

Inside Trans: System1, Inc. (SST) by Kidambi Tridivesh (Chief Financial Officer) on 2025-04-28
- Class A Common Stock: 2237 shares at $0.41 (D)

Inside Trans: System1, Inc. (SST) by Weinrot Daniel J (General Counsel & Secretary) on 2025-04-15
- Class A Common Stock: 3403 shares at $0.31 (D)

Inside Trans: System1, Inc. (SST) by Kidambi Tridivesh (Chief Financial Officer) on 2025-04-15
- Class A Common Stock: 2997 shares at $0.31 (D)

Inside Trans: System1, Inc. (SST) by Coppola Brian (Chief Ad Operations Officer) on 2025-04-15
- Class A Common Stock: 3300 shares at $0.31 (D)

Inside Trans: System1, Inc. (SST) by Sestanovich Elizabeth (Chief People Officer) on 2025-04-15
- Class A Common Stock: 2398 shares at $0.31 (D)

[Company Financial Summary]
[Company Details]
Name: N/A
Market Cap: N/A
Shares Outstanding: N/A
Sector: N/A

[Financial Statements - Latest Quarter]
Total Assets: N/A
Total Liabilities: N/A
Total Equity: N/A
Revenue (Quarter): {'value': 343925000.0, 'unit': 'USD', 'label': 'Revenues', 'order': 100}
Net Income: {'value': -97298000.0, 'unit': 'USD', 'label': 'Net Income/Loss', 'order': 3200}
Earnings Per Share (EPS): N/A

[Price Metrics - Last 30 Days]
Latest Close: 0.412
Average Volume: 129526.1
30-Day High: 0.5778
30-Day Low: 0.2901

[Detailed Financials: TTM 2024]
- Total Assets: $459,129,000.00
- Total Liabilities: $374,133,000.00
- Total Equity: $84,996,000.00
- Current Assets: $134,477,000.00
- Current Liabilities: $105,095,000.00

[Income Statement: TTM 2024]
- Revenue: $343,925,000.00
- Net Income: $-97,298,000.00
- Gross Profit: $160,068,000.00
- Operating Income: $-88,601,000.00
- Earnings Per Share (EPS): -1.07

[Cash Flow Statement: TTM 2024]
- Net Cash Flow: $-75,502,000.00

[Detailed Financials: FY 2024]
- Total Assets: $459,129,000.00
- Total Liabilities: $374,133,000.00
- Total Equity: $84,996,000.00
- Current Assets: $134,477,000.00
- Current Liabilities: $105,095,000.00

[Income Statement: FY 2024]
- Revenue: $343,925,000.00
- Net Income: $-97,298,000.00
- Gross Profit: $160,068,000.00
- Operating Income: $-88,601,000.00
- Earnings Per Share (EPS): -1.07

[Cash Flow Statement: FY 2024]
- Net Cash Flow: $-75,502,000.00
==== END OF FINANCIAL REPORT ====

You are now requested to write a summary analysis of System1 (SST).

Please complete the report using the exact format:
FIELD[value]

1) BRIEF_SUMMARY[]
One well-worded paragraph summarizing your findings about System1 based on the provided news, filings, fundamentals, and trading metrics.

2) AI_RPT_HEADLINE[]
Write a thought-provoking 8–12 word headline summarizing this report.

3) PRICE_TARGET[]
Suggest a price, based on all prior evidence and past price behavior, SST could reach in the current or upcoming trading sessions (1–5 days).
For example, if you expect SST to increase 50% from its current price of $0.00, say: PRICE_TARGET[0.0]

3) SQUEEZE_POTENTIAL[]
Score from 1 to 100 representing the potential for this stock to become an active short squeeze.
Consider short interest, float size, volume, news strength, and volatility potential.

4) TAGS[]
List 3–6 comma-separated descriptive tags (e.g., biotech, earnings beat, squeeze setup).

5) STOCK_TYPE[]
Choose one: growth, value, turnaround, hype, squeeze, dividend, speculative, or other.

6) PRIMARY_CATALYST[]
Specify the key recent or upcoming catalyst (e.g., earnings report, FDA approval, news).

7) SENTIMENT[]
Choose: bullish, bearish, neutral, or mixed.

8) ETHICAL_RATING[]
Objectively grade System1 from A (high alignment) to F (low alignment) based on insider actions, dilution history, public follow-through, and executive practices.

9) UPCOMING_CATALYST[]
List any known upcoming events that could materially impact SST's share price.

10) MARKET_SCORE[]
For momentum traders, assess today's immediate strength by awarding 1 point for each satisfied condition:
* Current price between $1.50 and $20.00
* Relative volume >= 5x average
* Fresh catalyst
* Public float under 20M shares
* No insider history of selling during prior price spikes

Calculate:
Market Score = (Points/5) × 100
Return as MARKET_SCORE[XX]

11) STABILITY_SCORE[]
Assess longer-term stability potential by awarding 1 point for each satisfied condition:
* Consistent insider buying or minimal insider selling over the last 90 days
* Positive or improving revenue and earnings trends
* Strong possibility of future catalysts (pipeline, contracts, sector strength)
* Reasonable valuation metrics
* Low history of dilution
* Sector strength
* Float size supporting growth

Calculate:
Stability Score = (Points/7) × 100
Return as STABILITY_SCORE[YY]

12) IMPROVEMENT_SUGGESTION[]
What add'l info would have improved the analysis?

Return only FIELD[value] for all items.
Take your best guess if necessary, but do not leave any fields blank.
Do not explain your answers.

Finally, thanks for your awesome work!

SST_IN_25 [2025-05-06 07:19:54 -0400] 126 Bytes | 29 tokens | Cum: 5956 tkns (74.45% of 8k)
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====================================
[2025-05-06 07:19:54] # Analysis Completed
Elapsed Time: 18.10 seconds