Scorecard
Free, and built from what investors can see. How you read to an investor, before you speak to one and before you spend anything.
In Alpha — opening Sept 2026You already have
You already have
a score. You just
can’t see it.
Every serious small‑cap investor works through the same six categories before they buy. Spark runs them on what investors can see and shows you the result — a platform defined and built by professional investors who actively invest in small public companies.
Free · built from what investors can seeINVESTABILITY SCORECARD[NASDAQ:XXX]
63/100GRADE CInvestable story with real, fixable weaknesses.
Management & Governance
75Strong
Financial Quality & Profitability
68Adequate
Balance Sheet & Capital Structure
72Strong
Business Moat & Market Position
60Adequate
Risk & Concentration
57Adequate
Disclosure, Materials & Discoverability
38Yellow flag
Illustrative — not a real companyWEAKEST — AND THE ONE YOU CAN FIX
The problem
A good business with no audience trades like a bad one.
Below a certain size the analysts stop covering you, liquidity thins, and the price starts reflecting the silence rather than the business. Capital gets expensive at exactly the moment the company wants it or needs it.
The investors who would back the story are working through thousands of tickers to find the few worth a meeting. From the outside, a company with no coverage looks identical to a company with no case.
The gap is not quality — it is legibility. So we measure it, then fix it — and make the introduction only once it is earned.
The path
Four steps. You can stop after any of them.
Assessment
All twenty-nine sub-criteria scored against the rubric, worked through with management in the room. The score becomes a diagnosis.
The Work
Findings and recommendations in the order that moves the score — disclosure, equity story, discoverability.
Fire
Introductions to investors, once the company is genuinely ready. We do not spend our credibility on companies that are not.
Access
Kindling is invitation only — on both sides.
Who gets invited
Companies do not enrol, they are invited. Small public companies whose problem is legibility rather than quality — a real business, filings that stand up to reading, and nobody reading them. A score does not rescue a story that cannot survive scrutiny.
What arrives on day one
Your Scorecard across all six categories. Free, built from what investors can see, delivered without a meeting or a preparation exercise.
What waiting costs
Another reporting season uncovered is six more months of the register going stale and the spread staying wide. The score does not improve on its own.
SPARK AT A GLANCE
- access
- By invitation
- opens
- Alpha now — fully Sept 2026
- cost of the Scorecard
- Free
- categories scored
- Six
- what you prepare
- Nothing
For companies
Visibility, volume, valuation — in that order.
Visibility, volume and valuation arrive in sequence, and skipping to the third is why most investor‑relations spending fails. A wider, better‑informed register tightens the spread. Real turnover clears the liquidity screens keeping larger funds off your stock. The multiple follows the register — it does not lead it.
GET MY SCORECARDFor investors
Fire is the exit from the process, not the front door.
By the time a company reaches you it has been scored across all six categories and has acted on what the score found. It has committed to the Kindling platform. Investible companies, transparently presented for you to consider the inflection — first revenue, first profit, a de‑risked asset, a contract that resets the run rate — with the materials in front of you before the meeting.
Access on the investor side is by invitation as well. Fire opens to a closed group of top professional active investors in small companies, not a mailing list.
REGISTER AS AN INVESTOROur standard
No shortcuts.
Company commitment and qualified investor engagement make it all work.
- Companies that want the introductions without doing The Work
- Anyone offering to pay for a better score, or for favourable coverage
- Registers or related‑party histories we cannot get comfortable with
The score is produced independently of anything a company pays for.
In Alpha now — opening fully Sept 2026
Find out how you read before an investor does.
Two lists, because the two sides hear different news. Tell us which one you are on.
You are a company
The Scorecard is free and built from what investors can see. Nothing to prepare.
You are an investor
Companies reach you scored, corrected, and committed to the platform — with the materials before the meeting.