The balance sheet reflects severe structural distress, with total assets contracting from $125.9 million in 2024Q3 to $9.1 million in 2026Q1 and a current ratio of only 0.04.
| Total Current Assets | 174.67K | 78.91K | 246.62K | 493.41K |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | - | - | - | - |
| Short-Term Investments | - | - | - | - |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 88.43K | 0 | 0 | 0 |
| Total Non-Current Assets | 8.96M | 8.81M | 11.85M | 120.72M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 41.51M | 8.81M | 11.85M | 120.66M |
| Other Non-Current Assets | - | - | - | - |
| Total Assets | 9.13M | 8.89M | 12.1M | 121.22M |
| Asset Turnover | 0.11x | - | - | - |
| Asset Growth % | -299.58% | -26.5% | -90.02% | - |
| Total Current Liabilities | 4.08M | 3.51M | 1.83M | 836.98K |
| Accounts Payable | 883.44K | 777.89K | 722.6K | 717.46K |
| Days Payables Outstanding | - | - | - | - |
| Short-Term Debt | 0 | 1.71M | 530K | 0 |
| Deferred Revenue (Current) | 0 | - | - | - |
| Other Current Liabilities | 4.08M | 1.8M | 0 | 0 |
| Current Ratio | 0.04x | 0.02x | 0.13x | 0.59x |
| Quick Ratio | 0.04x | 0.02x | 0.13x | 0.59x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 5.17M | 5.17M | 5.17M | 5.17M |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| Total Liabilities | 9.26M | 8.69M | 7M | 6.01M |
| Total Debt | 0 | 1.71M | 530K | 0 |
| Net Debt | -86.24K | 1.65M | 348.83K | -309.74K |
| Debt / Equity | -0.00x | 8.38x | 0.10x | - |
| Debt / EBITDA | -0.00x | - | 0.12x | - |
| Net Debt / EBITDA | 0.09x | - | 0.08x | -0.09x |
| Interest Coverage | -13.89x | -10.64x | 152.85x | - |
| Total Equity | -8.99M | 203.99K | 5.09M | 115.2M |
| Equity Growth % | -578.6% | -96% | -95.58% | - |
| Book Value per Share | -12.18 | 0.21 | 0.51 | 11.29 |
| Total Shareholders' Equity | -8.99M | 203.99K | 5.09M | 115.2M |
| Common Stock | 17.99M | 8.71M | 11.66M | 120.56M |
| Retained Earnings | -8.99M | -8.51M | -6.57M | -5.36M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Imminent Liquidation or Dilution
As reported in financial statements, ALCY's total assets plummeted from $125.9 million in 2024Q3 to just $9.1 million by 2026Q1, signaling a severe contraction in the company's resource base as it nears the end of its lifecycle as a pre-combination shell entity.
The precipitous decline in asset value suggests that the trust account has been largely depleted, likely due to shareholder redemptions or the exhaustion of funds to cover operational costs. This trajectory indicates that the company's ability to execute a meaningful business combination is rapidly diminishing, leaving little room for strategic maneuvering.
Based on the most recent 2026Q1 data, ALCY's current ratio has deteriorated to a precarious 0.04, reflecting a severe lack of liquid assets relative to its immediate liabilities and highlighting an urgent need for capital to sustain ongoing operations.
The current ratio, which has consistently trended downward from 0.96 in 2023Q2, suggests that the company is struggling to maintain the necessary liquidity to cover its administrative and legal obligations. Investors should monitor whether the current cash balance of $86.2K is sufficient to avoid a forced liquidation or a dilutive emergency financing event.
According to the latest quarterly filings, ALCY's equity position has shifted into negative territory at -$9.0 million in 2026Q1, a stark reversal from the $115.2 million reported in 2023Q4, indicating that accumulated losses have now fully eroded the company's initial capital base.
This shift to negative equity suggests that the company's liabilities now exceed its total assets, which is a significant red flag for any potential merger partner or investor. The persistent accumulation of losses, as evidenced by the -$9.0 million in retained earnings, implies that the shell structure is no longer self-sustaining without external intervention.
As evidenced by the balance sheet, the total absence of PPE and goodwill, combined with the rapid depletion of cash, suggests that ALCY possesses no tangible or intangible assets to support its valuation, leaving shareholders exposed to the full risk of the trust account's exhaustion.
The lack of any productive assets confirms that the company's value is entirely dependent on the remaining cash in the trust, which appears to be nearing depletion. This makes the headline asset figures potentially misleading, as they do not represent a business with operational potential but rather a vehicle that is effectively running on empty.
Quick answers to the most common questions about buying ALCY stock.
As of 2025, Alchemy Investments Acquisition Corp 1 (ALCY) had total assets of $8.9M including $0.1M in current assets.
Alchemy Investments Acquisition Corp 1 (ALCY) carries total debt of $1.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alchemy Investments Acquisition Corp 1 (ALCY) has total shareholders' equity (book value) of $0.2M ($0.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alchemy Investments Acquisition Corp 1 (ALCY) reported a current ratio of 0.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.