The balance sheet reflects severe structural impairment, evidenced by a negative equity position of -$9.3 million and a critically low current ratio of 0.01 as of 2026Q1.
| Total Current Assets | 127.94K | 371.69K | 383.77K | 2.34M | 1.16M | 631 | 0 | 0 |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 41.66K | 33.94K | 32.59K | 34.82K | 219.92K | 0 | 0 | 0 |
| Total Non-Current Assets | 5.63M | 5.53M | 11.86M | 39.52M | 178.69M | 675.33K | 380.5K | 143.75K |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 39.52M | 178.69M | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - |
| Total Assets | 5.76M | 5.9M | 12.25M | 41.86M | 179.84M | 675.97K | 380.5K | 143.75K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Asset Growth % | -234.3% | -51.8% | -70.74% | -76.73% | 26505.32% | 77.65% | 164.7% | - |
| Total Current Liabilities | 8.89M | 8.52M | 7.05M | 6.66M | 1.02M | 718.92K | 357.18K | 145.2K |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 6.24M | 4.93M | 47.5K | 443.09K | 298.68K | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - |
| Other Current Liabilities | 8.89M | 8.52M | 9.38K | 36.95K | 79.53K | 0 | 0 | 0 |
| Current Ratio | 0.01x | 0.04x | 0.05x | 0.35x | 1.14x | 0.00x | - | - |
| Quick Ratio | 0.01x | 0.04x | 0.05x | 0.35x | 1.14x | 0.00x | - | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 6.21M | 6.21M | 6.21M | 6.21M | 6.21M | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - |
| Total Liabilities | 15.1M | 14.74M | 13.26M | 12.88M | 7.23M | 718.92K | 357.18K | 145.2K |
| Total Debt | 0 | 0 | 6.24M | 4.93M | 47.5K | 443.09K | 298.68K | 0 |
| Net Debt | -86.27K | -337.75K | 5.96M | 2.63M | -888.56K | 442.46K | 298.68K | 0 |
| Debt / Equity | -0.00x | - | - | 0.17x | 0.00x | - | 12.80x | - |
| Debt / EBITDA | -0.00x | - | - | - | 0.03x | - | - | - |
| Net Debt / EBITDA | 0.15x | - | - | - | -0.52x | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - |
| Total Equity | -9.34M | -8.83M | -1.01M | 28.98M | 172.62M | -42.96K | 23.33K | -1.45K |
| Equity Growth % | -2497.05% | -773.12% | -103.49% | -83.21% | 401904.2% | -284.16% | 1708.76% | - |
| Book Value per Share | -21.38 | -11.24 | -0.38 | 1.54 | 7.94 | -0.00 | 0.00 | -0.00 |
| Total Shareholders' Equity | -9.34M | -8.83M | -1.01M | 28.98M | 172.62M | -42.96K | 23.33K | -1.45K |
| Common Stock | 5.62M | 5.53M | 11.92M | 39.43M | 177.95M | 575 | 575 | 0 |
| Retained Earnings | -14.96M | -14.37M | -12.93M | -10.44M | -5.34M | -67.96K | -1.67K | -1.45K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent Liquidation or Delisting
As reported in financial statements, BYNO's total assets have plummeted from $41.9 million in 2023Q4 to a mere $5.8 million by 2026Q1, signaling a severe contraction in the entity's capacity to pursue its original acquisition mandate within the Northern European fintech sector.
The consistent decline in total assets suggests that the company is rapidly exhausting its remaining resources to cover administrative overhead. This trajectory implies that the entity is likely approaching a terminal state where the cost of maintaining a public listing outweighs the potential value of a future business combination.
Based on the most recent quarterly data, BYNO's cash position has dwindled to $86,300, resulting in a current ratio of 0.01, which indicates that the company lacks the necessary liquidity to sustain operations or effectively negotiate a meaningful acquisition in the current market environment.
The extremely low current ratio highlights a precarious liquidity position that leaves virtually no buffer against unexpected regulatory or legal expenses. Investors should monitor this trend as a primary indicator of an impending liquidation event, as the current cash balance appears insufficient for ongoing corporate maintenance.
According to recent SEC filings, BYNO's equity has shifted into a negative position of -$9.3 million as of 2026Q1, reflecting the cumulative impact of persistent losses and the erosion of shareholder value since the company's inception as a special purpose acquisition vehicle.
The transition to negative equity suggests that the company's liabilities now significantly exceed its remaining assets, effectively wiping out the book value for common shareholders. This structural impairment warrants further investigation into the potential for a total loss of capital should the entity fail to secure a merger partner.
As evidenced by the divergence between the company's nominal asset base and its historical market activity, the primary risk is that the entity's remaining value is purely speculative, with no underlying operational assets to support the current valuation or justify continued public listing status.
The absence of any tangible assets or revenue-generating operations makes the company's valuation highly sensitive to market sentiment rather than fundamental performance. Investors should be wary that the headline numbers may mask the reality that the entity is effectively a hollow shell with limited remaining utility for a reverse merger.
Quick answers to the most common questions about buying BYNO stock.
As of 2025, byNordic Acquisition Corporation (BYNO) had total assets of $5.9M including $0.4M in current assets.
byNordic Acquisition Corporation (BYNO) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
byNordic Acquisition Corporation (BYNO) has total shareholders' equity (book value) of $-8.8M ($-11.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
byNordic Acquisition Corporation (BYNO) reported a current ratio of 0.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.