The company is technically insolvent with a negative equity position of $16.5 million and total debt of $29.7 million surpassing its $26.6 million total asset base.
| Total Current Assets | 10.47M | 5.69M | 10.09M | 12.6M |
| Cash & Short-Term Investments | 7.24M | 756 | 918.36K | 30.56K |
| Cash Only | 146.51K | 756 | 918.36K | 30.56K |
| Short-Term Investments | 7.09M | 0 | 0 | 0 |
| Accounts Receivable | 1.23M | 2.11M | 4.19M | 4.97M |
| Days Sales Outstanding | 1.16K | 243.23 | 224.28 | 113.55 |
| Inventory | 1.43M | 2.81M | 3.82M | 5.69M |
| Days Inventory Outstanding | 135.43 | 145.12 | 144.21 | 105.21 |
| Other Current Assets | 129.35K | 543.67K | 247.2K | 1.32M |
| Total Non-Current Assets | 16.16M | 31.82M | 34.46M | 40.93M |
| Property, Plant & Equipment | 16.15M | 29.74M | 31.78M | 36.47M |
| Fixed Asset Turnover | 0.02x | 0.11x | 0.21x | 0.44x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.67K | 158.33K | 177.94K | 180.62K |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 8.57K | 1.92M | 2.5M | 4.28M |
| Total Assets | 26.63M | 37.5M | 44.55M | 53.53M |
| Asset Turnover | 0.01x | 0.08x | 0.15x | 0.30x |
| Asset Growth % | -28.99% | -15.81% | -16.78% | - |
| Total Current Liabilities | 20.36M | 14.97M | 17.04M | 25.25M |
| Accounts Payable | 1.07M | 1.79M | 3.16M | 6.42M |
| Days Payables Outstanding | 101.66 | 92.08 | 119.24 | 118.63 |
| Short-Term Debt | 7.6M | 2.2M | 2.31M | 9.83M |
| Deferred Revenue (Current) | 3.88M | 3.89M | 5.63M | 1.49M |
| Other Current Liabilities | 1.34M | 2.07M | 2.32M | 2.18M |
| Current Ratio | 0.51x | 0.38x | 0.59x | 0.50x |
| Quick Ratio | 0.44x | 0.19x | 0.37x | 0.27x |
| Cash Conversion Cycle | 1.19K | 296.27 | 249.25 | 100.13 |
| Total Non-Current Liabilities | 22.72M | 21.55M | 32.43M | 25.3M |
| Long-Term Debt | 0 | 246.48K | 0 | 0 |
| Capital Lease Obligations | 22.08M | 20.39M | 21.53M | 21.85M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 642.18K | 916.59K | 10.9M | 3.45M |
| Total Liabilities | 43.08M | 36.52M | 49.47M | 50.55M |
| Total Debt | 29.68M | 24.57M | 23.86M | 32.06M |
| Net Debt | 29.53M | 24.57M | 22.94M | 32.03M |
| Debt / Equity | - | 25.11x | - | 10.75x |
| Debt / EBITDA | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - |
| Interest Coverage | -51.76x | -72.63x | -17.53x | -17.49x |
| Total Equity | -16.45M | 978.34K | -4.92M | 2.98M |
| Equity Growth % | -1781.5% | 119.88% | -265.04% | - |
| Book Value per Share | -22.28 | 53.55 | -125.83 | 76.24 |
| Total Shareholders' Equity | -16.45M | 978.34K | -4.92M | 2.98M |
| Common Stock | 591 | 233 | 233 | 233 |
| Retained Earnings | -68.9M | -38.79M | -30.81M | -21.05M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.38M | 1.27M | 1.34M | 872.28K |
| Minority Interest | 0 | 0 | 0 | 0 |
Imminent liquidity insolvency risk
As reported in recent financial filings, Elong Power's equity position has deteriorated into a deficit of $16.5 million by 2024Q4, reflecting a consistent trajectory of value destruction as the company fails to translate its industrial battery manufacturing assets into a sustainable, revenue-generating commercial enterprise.
The shift from a positive equity position in late 2023 to a significant deficit indicates that accumulated losses have completely eroded the company's net worth. This trajectory suggests that the business model is currently unable to support its own capital structure, leaving shareholders with no residual value.
Based on the company's latest balance sheet, total debt has climbed to $29.7 million against a total asset base of only $26.6 million, indicating that the firm is technically insolvent as reported in recent financial statements.
The reliance on debt to fund operations while revenue remains negligible suggests that the company is trapped in a cycle of debt-dependent survival. Investors should monitor the maturity profile of these obligations, as the current asset base provides no meaningful collateral coverage for creditors.
According to the most recent quarterly data, Elong Power holds only $146,514 in cash, a figure that appears woefully inadequate to sustain operations given the company's current burn rate and a current ratio of 0.51, which signals an imminent inability to meet short-term obligations.
A current ratio of 0.51 implies that for every dollar of short-term liability, the company has roughly fifty cents in current assets, highlighting a severe liquidity crunch. This lack of a cash buffer suggests that the company is highly vulnerable to any operational disruption or creditor demand.
As indicated by the financial statements, the company's $16.1 million in net property, plant, and equipment represents a significant portion of the $26.6 million total asset base, yet this capital investment has failed to generate meaningful revenue, suggesting potential for future impairment charges.
The concentration of capital in fixed assets that are not producing output implies that the company is carrying significant dead weight on its balance sheet. If these facilities cannot be brought to higher utilization levels, the carrying value of these assets may be subject to substantial write-downs.
Based on the reported figures, the company's negative equity of $16.5 million serves as a stark indicator of financial distress that may be understated if the carrying value of PPE is not adjusted for its current lack of productive utility.
The presence of deferred revenue alongside a massive equity deficit suggests that the company may be struggling to fulfill past obligations while simultaneously failing to attract new business. This combination of factors warrants extreme caution, as the balance sheet appears to be masking the true extent of the company's operational insolvency.
Quick answers to the most common questions about buying ELPW stock.
As of 2024, Elong Power Holding Limited (ELPW) had total assets of $26.6M including $10.5M in current assets.
Elong Power Holding Limited (ELPW) carries total debt of $29.7M, offset by $7.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Elong Power Holding Limited (ELPW) has total shareholders' equity (book value) of $-16.5M ($-22.28 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Elong Power Holding Limited (ELPW) reported a current ratio of 0.51x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.