Total assets have experienced a systematic decline to $3.9M as of 2026Q1, reflecting the erosion of capital reserves required to maintain the entity's listing status.
| Total Current Assets | 878.24K | 955.72K | 1.72M | 0 | 0 | 1 |
| Cash & Short-Term Investments | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 207.91K | 84.37K | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 3.01M | 2.98M | 60.36M | 0 | 0 | 230 |
| 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 | 129.88M | 2.98M | 0 | 0 | 0 | 230 |
| Other Non-Current Assets | - | - | - | - | - | - |
| Total Assets | 3.88M | 3.94M | 62.08M | 0 | 0 | 1 |
| Asset Turnover | 0.00x | - | - | - | - | - |
| Asset Growth % | 76747.09% | -93.66% | - | - | -100% | - |
| Total Current Liabilities | 598.67K | 535.96K | 517.33K | 140.58K | 137.93K | 1 |
| Accounts Payable | 0 | 0 | 241.11K | 14.93K | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 276.22K | 125.65K | 120.35K | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - |
| Other Current Liabilities | 598.67K | 535.96K | 0 | -14.93K | 0 | 1 |
| Current Ratio | 1.47x | 1.78x | 3.32x | - | - | 0.63x |
| Quick Ratio | 1.47x | 1.78x | 3.32x | - | - | 0.63x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 23 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - |
| Total Liabilities | 598.67K | 535.96K | 517.33K | 140.58K | 137.93K | 25 |
| Total Debt | 0 | 0 | 276.22K | 125.65K | 120.35K | 0 |
| Net Debt | -670.33K | -871.35K | -1.32M | 125.65K | 120.35K | 0 |
| Debt / Equity | 0.00x | - | 0.00x | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - |
| Net Debt / EBITDA | 0.91x | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - |
| Total Equity | 279.57K | 419.76K | 61.56M | -140.58K | -137.93K | -24 |
| Equity Growth % | 421.54% | -99.32% | 43889.71% | -1.92% | -580168.38% | - |
| Book Value per Share | 0.99 | 0.08 | - | - | - | -0.00 |
| Total Shareholders' Equity | 279.57K | 419.76K | 61.56M | -140.58K | -137.93K | -24 |
| Common Stock | 3.01M | 2.98M | 57.69M | 0 | 0 | 230M |
| Retained Earnings | 279.57K | 419.76K | -391.96K | -165.58K | -162.93K | -24 |
| 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 and regulatory deadline
As reported in financial statements, ASPC's total assets have contracted significantly from $230.5M in 2022Q1 to $3.9M by 2026Q1, reflecting the systematic depletion of capital as the entity consumes resources to maintain its listing status while failing to secure a definitive business combination.
The consistent decline in total assets suggests that the entity is rapidly approaching a critical juncture where its ability to sustain administrative operations may be compromised. Investors should monitor whether the current asset base is sufficient to cover the remaining compliance costs before the regulatory deadline forces a liquidation event.
Based on the company's historical financial data, the cash position has dwindled to $670.3K as of 2026Q1, down from $1.6M in 2024Q4, indicating that the entity's liquidity buffer is shrinking as it continues to burn through capital without generating any offsetting revenue streams.
The current ratio of 1.47 suggests a narrowing margin of safety, leaving the company with limited flexibility to navigate unexpected regulatory or legal expenses. This trend appears to increase the pressure on management to finalize a merger, as the current cash runway may not support prolonged search activities.
According to recent SEC filings, the company's equity position has fluctuated significantly, with retained earnings showing a persistent deficit that reflects the ongoing accumulation of administrative costs without the benefit of operational income to offset these recurring expenditures over the past several reporting periods.
The erosion of equity highlights the lack of value creation inherent in the current shell structure, as the entity relies on capital preservation rather than growth. The negative trend in retained earnings suggests that the company is effectively consuming its initial capital base, which may limit the attractiveness of the vehicle to potential merger targets.
As indicated by the company's historical financial statements, the classification of capital as temporary equity rather than permanent equity creates a significant distortion, as the majority of these funds are subject to redemption by public shareholders upon the completion of a potential business combination.
This structural feature implies that the headline equity figure may be highly misleading, as it does not represent stable, long-term capital committed to the entity. Analysts should interpret this as a potential liquidity trap, where the actual capital available for a merger could be substantially lower than the balance sheet suggests.
Quick answers to the most common questions about buying ASPC stock.
As of 2025, ASPAC III Acquisition Corp. (ASPC) had total assets of $3.9M including $1.0M in current assets.
ASPAC III Acquisition Corp. (ASPC) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
ASPAC III Acquisition Corp. (ASPC) has total shareholders' equity (book value) of $0.4M ($0.08 book value per share). Book value represents the net worth of the company belonging to common stock holders.
ASPAC III Acquisition Corp. (ASPC) reported a current ratio of 1.78x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.