The company's financial position has deteriorated to a negative equity state of $11.2 million, compounded by a current ratio of 0.04 that signals an inability to meet short-term obligations.
| Total Current Assets | 364.56K | 1.28M | 40.06M | 1.03M |
| Cash & Short-Term Investments | 357.73K | 460.47K | 7.12M | 812.23K |
| Cash Only | 357.73K | 460.47K | 7.12M | 812.23K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 228.37K | 26.47M | 0 |
| Days Sales Outstanding | - | 34.68 | 2.69K | - |
| Inventory | 0 | 364.14K | 417.41K | 0 |
| Days Inventory Outstanding | - | 73.65 | 94.18 | - |
| Other Current Assets | 0 | 0 | 5.85M | 0 |
| Total Non-Current Assets | 1.38M | 5.42M | 304.02M | 116.93M |
| Property, Plant & Equipment | 0 | 3.07M | 548.96K | 0 |
| Fixed Asset Turnover | 0.00x | 0.78x | 6.55x | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 837.8K | 200.41K | 0 |
| Long-Term Investments | 35.67M | 1.51M | 118.41M | 116.73M |
| Other Non-Current Assets | 0 | 0 | 184.78M | 202.57K |
| Total Assets | 1.74M | 6.7M | 344.08M | 117.96M |
| Asset Turnover | 0.00x | 0.36x | 0.01x | - |
| Asset Growth % | -266.76% | -98.05% | 191.7% | - |
| Total Current Liabilities | 8.92M | 5.06M | 203.04M | 230.8K |
| Accounts Payable | 0 | 175.6K | 0 | 0 |
| Days Payables Outstanding | - | 35.52 | - | - |
| Short-Term Debt | 5.91M | 1.76M | 60.44M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.49M | -1.76M | 142.34M | 230.8K |
| Current Ratio | 0.04x | 0.25x | 0.20x | 4.46x |
| Quick Ratio | 0.04x | 0.18x | 0.20x | 4.46x |
| Cash Conversion Cycle | - | 72.81 | - | - |
| Total Non-Current Liabilities | 4.05M | 194.36K | 49.54M | 4.14M |
| Long-Term Debt | 0 | 0 | 49.08M | 0 |
| Capital Lease Obligations | 738.25K | 194.36K | 0 | 0 |
| Deferred Tax Liabilities | 21.56K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.05M | 4.03M | 458.08K | 4.14M |
| Total Liabilities | 12.97M | 5.25M | 252.58M | 4.37M |
| Total Debt | 5.91M | 1.76M | 109.52M | 0 |
| Net Debt | 5.56M | 47.1K | 102.39M | -812.23K |
| Debt / Equity | -0.53x | 1.21x | 0.96x | - |
| Debt / EBITDA | -5.80x | - | 301.56x | - |
| Net Debt / EBITDA | -5.45x | - | 281.94x | - |
| Interest Coverage | -1.07x | -54.98x | -11.49x | - |
| Total Equity | -11.23M | 1.45M | 113.81M | 113.59M |
| Equity Growth % | -445.99% | -98.73% | 0.2% | - |
| Book Value per Share | -3.19 | 0.24 | 2.12 | 2.12 |
| Total Shareholders' Equity | -11.23M | 1.57M | 1.66M | 113.59M |
| Common Stock | 931.17K | 13.53M | 117.87M | 116.73M |
| Retained Earnings | -13.15M | -8.65M | -76.21M | -3.14M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -3.31M | -3.19M | 0 |
| Minority Interest | 0 | -116.19K | -24.93K | 0 |
Imminent Insolvency Risk
According to the most recent quarterly filings, ALPS has seen its total assets plummet from $354.3 million in 2023Q1 to a mere $1.7 million by 2025Q3, signaling a catastrophic contraction in the company's resource base and a fundamental breakdown of its operational scale.
The precipitous decline in asset value suggests that the company has been forced to liquidate or write down significant portions of its infrastructure to sustain operations. This trajectory indicates that the business model is currently unable to maintain the capital intensity required for its integrated clinical services.
As reported in the 2025Q3 financial statements, the company's current ratio has deteriorated to an alarming 0.04, reflecting a severe liquidity shortfall that leaves the firm with virtually no buffer to meet its short-term obligations or fund ongoing clinical activities.
A current ratio of this magnitude implies that current liabilities vastly outweigh available liquid assets, placing the company in a precarious position regarding its ability to continue as a going concern. Investors should monitor for potential emergency financing or further asset divestitures as the cash runway appears effectively exhausted.
Based on the latest balance sheet data, ALPS has transitioned to a negative equity position of -$11.2 million, a stark reversal from the $43.9 million reported in 2023Q1, which underscores the cumulative impact of persistent operating losses and the erosion of shareholder value.
The shift into negative equity suggests that the company's liabilities now exceed its total assets, which typically indicates that the firm is technically insolvent. This trend highlights the failure of the current business model to generate sufficient returns to cover the capital invested by shareholders.
As indicated by the 2025Q3 data, the company maintains $5.9 million in total debt, which, when contrasted with the negative equity position, suggests that the firm is operating under extreme financial distress with limited capacity for further traditional debt-based financing.
The presence of debt in a company with negative equity and minimal cash reserves suggests that creditors may face significant recovery risks. The inability to deleverage while the asset base shrinks further complicates the company's prospects for a sustainable financial turnaround.
Quick answers to the most common questions about buying ALPS stock.
As of 2023, Alps Group Inc (ALPS) had total assets of $6.7M including $1.3M in current assets.
Alps Group Inc (ALPS) carries total debt of $1.8M, offset by $0.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alps Group Inc (ALPS) has total shareholders' equity (book value) of $1.6M ($0.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alps Group Inc (ALPS) reported a current ratio of 0.25x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.