Financial leverage is emerging as a concern, with total debt rising to $4.8M in 2026Q1 and the current ratio deteriorating to a critical 0.01.
| Total Current Assets | 153.63K | 214.54K | 273.22K | 765.22K | 20K | 0 |
| Cash & Short-Term Investments | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 371.31M | 365.97M | 366.06M | 347.46M | 754.36K | 425.11K |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.49B | 365.97M | 366.06M | 347.46M | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - |
| Total Assets | 371.47M | 366.18M | 366.34M | 348.22M | 774.36K | 425.11K |
| Asset Turnover | 0.00x | - | - | - | - | - |
| Asset Growth % | 9.5% | -0.04% | 5.2% | 44869.19% | 82.15% | - |
| Total Current Liabilities | 19.86M | 17.33M | 10.57M | 239.1K | 758.97K | 408.5K |
| Accounts Payable | 95.64K | 56.83K | 2.78M | 24.78K | 18.12K | 0 |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 4.79M | 2.82M | 838.4K | 0 | 300K | 151.25K |
| Deferred Revenue (Current) | 0 | - | - | - | - | - |
| Other Current Liabilities | 15.07M | 14.51M | 6.95M | 214.32K | 0 | 257.25K |
| Current Ratio | 0.01x | 0.01x | 0.03x | 3.20x | 0.03x | - |
| Quick Ratio | 0.01x | 0.01x | 0.03x | 3.20x | 0.03x | - |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 12.07M | 12.07M | 12.07M | 12.66M | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - |
| Total Liabilities | 31.93M | 29.4M | 22.65M | 12.9M | 758.97K | 408.5K |
| Total Debt | 4.79M | 2.82M | 838.4K | 0 | 300K | 151.25K |
| Net Debt | 4.79M | 2.82M | 838.4K | -284.78K | 280K | 151.25K |
| Debt / Equity | 0.01x | 0.01x | 0.00x | - | 19.50x | 9.11x |
| Debt / EBITDA | -0.78x | - | - | - | 60000.00x | 54.12x |
| Net Debt / EBITDA | -0.78x | - | - | - | 56000.00x | 54.12x |
| Interest Coverage | - | - | - | - | - | - |
| Total Equity | 339.53M | 336.78M | 343.69M | 335.32M | 15.39K | 16.61K |
| Equity Growth % | -0.07% | -2.01% | 2.49% | 2179309.78% | -7.37% | - |
| Book Value per Share | 10.31 | 9.82 | 7.97 | 7.78 | 0.00 | 0.00 |
| Total Shareholders' Equity | 339.53M | 336.78M | 343.69M | 335.32M | 15.39K | 16.61K |
| Common Stock | 371.31M | 365.97M | 366.06M | 347.46M | 863 | 863 |
| Retained Earnings | -31.78M | -29.19M | -22.38M | -12.13M | -9.61K | -8.39K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidation deadline execution risk
As reported in recent SEC filings, ANSC's total assets have fluctuated within a narrow range, reaching $371.5M in 2026Q1, which suggests that the entity's primary trajectory is defined by the preservation of trust capital rather than any meaningful expansion of its underlying business operations.
The stability in total assets reflects the passive nature of the trust account, which serves as a holding vehicle rather than an engine for growth. Investors should monitor the persistent accumulation of negative retained earnings, which reached $31.8M in 2026Q1, as this indicates the ongoing consumption of capital to fund administrative overhead.
According to the latest quarterly data, ANSC's debt levels have risen to $4.8M in 2026Q1, a shift that warrants further investigation as it suggests the company is increasingly relying on external financing to cover administrative costs as the liquidation deadline approaches.
While the debt-to-equity ratio remains low at 0.01, the transition from zero debt in 2024Q3 to current levels indicates a potential tightening of liquidity. This reliance on debt may imply that interest income from the trust is no longer sufficient to fully offset the rising costs of maintaining the public listing.
Based on reported financial statements, ANSC's current ratio has deteriorated significantly to 0.01 in 2026Q1, signaling that the company's ability to meet short-term obligations without tapping into restricted trust assets is effectively non-existent at this stage of the business lifecycle.
The collapse of the current ratio from 3.20 in 2023Q4 highlights the rapid depletion of unrestricted cash reserves. This trend suggests that the company is operating with minimal margin for error, leaving it highly vulnerable to any unexpected administrative or legal expenses prior to a business combination.
As indicated by the company's balance sheet, the headline asset figure of $371.5M is potentially misleading, as these funds are largely restricted for the purpose of a business combination, leaving the entity with virtually no operational liquidity to sustain its ongoing administrative burn.
The discrepancy between total assets and available cash suggests that the company's financial health is entirely dependent on the successful execution of a merger. Investors should be wary that the reported equity value does not account for the potential dilution from warrants and founder shares, which could significantly alter the pro-forma value for public shareholders.
Quick answers to the most common questions about buying ANSC stock.
As of 2025, Agriculture & Natural Solutions Acquisition Corporation Class A Ordinary Shares (ANSC) had total assets of $366.2M including $0.2M in current assets.
Agriculture & Natural Solutions Acquisition Corporation Class A Ordinary Shares (ANSC) carries total debt of $2.8M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Agriculture & Natural Solutions Acquisition Corporation Class A Ordinary Shares (ANSC) has total shareholders' equity (book value) of $336.8M ($9.82 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Agriculture & Natural Solutions Acquisition Corporation Class A Ordinary Shares (ANSC) reported a current ratio of 0.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.