Shareholder value has rapidly eroded, with equity deteriorating from a positive $19.6M in 2023Q4 to a negative $6.4M by 2025Q4, while the current ratio sits at a vulnerable 0.17.
| Total Current Assets | 7.12M | 1.31M | 147.99K | 81.22K | 1.1M | 293.22K |
| Cash & Short-Term Investments | 5.86M | 1M | 3.63K | 11.17K | 497.26K | 0 |
| Cash Only | 5.86M | 1M | 3.63K | 0 | 497.26K | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 36.5K | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | 369.97K | 253.16K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 2.08K | 14.63K | - | - | - | - |
| Other Current Assets | 890.15K | 55.1K | 107.85K | 70.05K | 600.49K | 293.22K |
| Total Non-Current Assets | 0 | 0 | 6.67M | 19.9M | 299.08M | 293.22K |
| 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 | 0 | 0 | 6.67M | 19.9M | 299K | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 298.79M | 293.22K |
| Total Assets | 7.12M | 1.31M | 147.99K | 19.98M | 300.18M | 293.22K |
| Asset Turnover | 0.01x | 0.00x | - | - | - | - |
| Asset Growth % | 899.24% | 786.66% | -99.26% | -93.34% | 102273.98% | - |
| Total Current Liabilities | 3.15M | 7.59M | 1.69M | 403.33K | 303.32K | 293.7K |
| Accounts Payable | 857.92K | 1.01M | 310.22K | 152K | 180.63K | 273 |
| Days Payables Outstanding | 13.52K | 58.6K | - | - | - | - |
| Short-Term Debt | 499.21K | 1.38M | 1.27M | 12.38K | 27.97K | 238.6K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 80 | 0 |
| Other Current Liabilities | 1.8M | 4.84M | 111.03K | 0 | -28.05K | 0 |
| Current Ratio | 2.26x | 0.17x | 0.09x | 0.20x | 3.62x | 1.00x |
| Quick Ratio | 2.14x | 0.14x | 0.09x | 0.20x | 3.62x | 1.00x |
| Cash Conversion Cycle | -11.44K | - | - | - | - | - |
| Total Non-Current Liabilities | 96.25K | 95.66K | 0 | 0 | 10.81M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 96.25K | 95.66K | 0 | 0 | 10.81M | 0 |
| Total Liabilities | 3.25M | 7.69M | 1.69M | 403.33K | 11.12M | 293.7K |
| Total Debt | 499.21K | 1.38M | 1.27M | 12.38K | 27.97K | 238.6K |
| Net Debt | -5.36M | 380.87K | 1.26M | 12.38K | -497.26K | 238.6K |
| Debt / Equity | 0.13x | - | - | 0.00x | 0.00x | - |
| Debt / EBITDA | -0.12x | - | - | - | 0.01x | 103.24x |
| Net Debt / EBITDA | 1.32x | - | - | - | -0.15x | 103.24x |
| Interest Coverage | -0.54x | -2.27x | -13.06x | 498.88x | - | - |
| Total Equity | 3.87M | -6.38M | -1.54M | 19.58M | 289.07M | -475 |
| Equity Growth % | -14592.62% | -314.02% | -107.87% | -93.23% | 60856138.32% | - |
| Book Value per Share | 2.59 | -4.27 | -2.23 | 40.83 | 321.74 | -0.00 |
| Total Shareholders' Equity | 3.87M | -6.38M | -1.54M | 19.58M | 289.07M | -475 |
| Common Stock | 17 | 353 | 169.99K | 19.9M | 299M | 718 |
| Retained Earnings | -30.48M | -27.26M | -2.78M | -11.29M | -9.94M | -25.48K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent insolvency and dilution
As reported in recent financial statements, ASBP's equity position has deteriorated from a positive $19.6M in 2023Q4 to a negative $6.4M by 2025Q4, illustrating a rapid erosion of shareholder value that suggests the company's current business model is failing to generate sustainable economic returns.
The consistent decline in equity, coupled with persistent negative retained earnings, indicates that the company is consuming its capital base to fund ongoing operations rather than building enterprise value. This trajectory suggests that the firm is in a state of terminal decline unless a significant capital infusion or strategic pivot occurs.
Based on the most recent quarterly filings, ASBP's cash reserves have dwindled to $1.0M, while the current ratio remains at a precarious 0.17, indicating that the company lacks the necessary liquidity to cover its short-term obligations without immediate external financing or further asset liquidation.
The extremely low current ratio highlights a severe mismatch between current assets and liabilities, leaving the firm with virtually no buffer against operational shocks. Investors should monitor the company's ability to secure emergency funding, as the current liquidity profile suggests an imminent risk of insolvency.
According to historical balance sheet data, ASBP's debt levels have fluctuated between $499.2K and $1.8M, yet the meaningful calculation of debt-to-equity ratios has become impossible in recent periods due to the company's negative equity position, signaling a breakdown in traditional leverage-based financial health metrics.
The presence of debt on a balance sheet with negative equity and minimal cash suggests that the company is relying on debt as a survival mechanism rather than a strategic growth tool. This reliance on debt in a pre-revenue state warrants further investigation into the terms of these obligations and the potential for restrictive covenants.
As indicated by the historical data, the company previously carried $5.0M in goodwill on its balance sheet during 2024, which was subsequently written down to zero, suggesting that past acquisitions or intangible asset valuations were likely overstated and failed to provide the expected commercial utility.
The total impairment of goodwill serves as a warning that the company's historical asset valuations may not have reflected economic reality. This history of asset write-downs implies that current balance sheet figures should be viewed with skepticism, as they may still contain intangible assets that lack genuine market value.
Quick answers to the most common questions about buying ASBP stock.
As of 2025, Aspire Biopharma Holdings, Inc. (ASBP) had total assets of $1.3M including $1.3M in current assets.
Aspire Biopharma Holdings, Inc. (ASBP) carries total debt of $1.4M, offset by $1.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Aspire Biopharma Holdings, Inc. (ASBP) has total shareholders' equity (book value) of $-6.4M ($-4.27 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Aspire Biopharma Holdings, Inc. (ASBP) reported a current ratio of 0.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.