Do public operating traces still fit the financial model?
The public record can test whether visible operating roles, capability declarations, and restoration traces remain consistent with assumptions supplied elsewhere. It cannot determine DSCR, residual value, or creditworthiness.
Is revenue being earned through the assumed duty profile?
Separate high-volume participation from high-cadence, low-volume coordination. Public BM cashflow is indicative and not total revenue.
Do public declarations and physical traces diverge?
Use MEL/MIL, PN/FPN, metering, BM actions, and REMIT to locate a question, then request the availability evidence that can answer it.
Has visible cadence become more persistent?
Compare rolling windows and peers without translating cadence into degradation. Request internal throughput, thermal, maintenance, and augmentation records.
Are absence and return publicly explained?
Distinguish market absence, metered absence, disclosed outage, service migration, settlement lag, and identity uncertainty.