The firm's financial position is deteriorating, with retained earnings falling to -$7.1M and total assets declining to $243.2M as of 2026Q1.
| Total Current Assets | 1.22M | 1.47M | 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 |
| Total Non-Current Assets | 242M | 239.87M | 429.69K |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 954.3M | 239.86M | 0 |
| Other Non-Current Assets | - | - | - |
| Total Assets | 243.22M | 241.35M | 429.69K |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 613098.56% | 56067.11% | - |
| Total Current Liabilities | 309.37K | 137.52K | 483.39K |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 0 | 192.03K |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 0 | 0 | 268.36K |
| Current Ratio | 3.94x | 10.72x | - |
| Quick Ratio | 3.94x | 10.72x | - |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 8.05M | 8.05M | 0 |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 8.36M | 8.19M | 483.39K |
| Total Debt | 0 | 0 | 192.03K |
| Net Debt | -1.08M | -1.36M | 192.03K |
| Debt / Equity | 0.00x | - | - |
| Debt / EBITDA | -0.00x | - | - |
| Net Debt / EBITDA | 1.02x | - | - |
| Interest Coverage | - | - | - |
| Total Equity | 234.86M | 233.16M | -53.7K |
| Equity Growth % | 101187033.01% | 434285.32% | - |
| Book Value per Share | 10.21 | 11.49 | -0.01 |
| Total Shareholders' Equity | 234.86M | 233.16M | -53.7K |
| Common Stock | 242M | 239.86M | 575 |
| Retained Earnings | -7.14M | -6.7M | -78.7K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Imminent liquidation and dilution
As reported in recent financial statements, ATII's total assets have experienced a significant decline from $243.2M in 2026Q1 to a state where the company's cash reserves are insufficient to sustain long-term operations, signaling a weakening trajectory as the entity approaches its mandatory liquidation deadline.
The contraction in total assets suggests that the company is struggling to maintain its capital base while incurring persistent administrative expenses. This downward trend in asset quality implies that the entity's ability to negotiate a favorable business combination is rapidly diminishing as the cash runway shortens.
According to SEC filings, ATII's cash balance has dwindled to $1.1M as of 2026Q1, a figure that appears inadequate to cover ongoing administrative and compliance costs, thereby increasing the probability of a forced liquidation or the necessity for highly dilutive capital raises to maintain the shell's existence.
The current ratio of 3.94, while appearing superficially healthy, masks the reality that the company lacks any operational revenue to replenish its cash reserves. Investors should monitor the burn rate closely, as the current liquidity buffer provides little protection against the mounting costs of the search process.
Based on the company's reported figures, retained earnings have consistently trended into negative territory, reaching -$7.1M in 2026Q1, which reflects the ongoing accumulation of administrative losses that directly erode the equity value available to public shareholders in the event of a potential merger or liquidation.
The negative retained earnings highlight the structural inefficiency of the SPAC model when a target is not identified in a timely manner. This persistent erosion of equity suggests that the value proposition for shareholders is being steadily undermined by the costs of maintaining the public listing.
Data from recent financial disclosures indicates that the company's asset base is almost entirely comprised of cash held in trust, which may be misleadingly interpreted as a stable foundation despite the fact that these funds are subject to potential redemptions and ongoing administrative depletion.
The lack of tangible assets or intellectual property means that the company's book value is highly sensitive to management's ability to execute a deal. The reliance on interest income to offset administrative costs is a precarious strategy that warrants further investigation into the sustainability of the current balance sheet.
Quick answers to the most common questions about buying ATII stock.
As of 2025, Archimedes Tech SPAC Partners II Co. Ordinary Shares (ATII) had total assets of $241.3M including $1.5M in current assets.
Archimedes Tech SPAC Partners II Co. Ordinary Shares (ATII) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Archimedes Tech SPAC Partners II Co. Ordinary Shares (ATII) has total shareholders' equity (book value) of $233.2M ($11.49 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Archimedes Tech SPAC Partners II Co. Ordinary Shares (ATII) reported a current ratio of 10.72x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.