The balance sheet has deteriorated significantly, with a current ratio of 0.11 as of 2025Q3, indicating a severe inability to cover short-term liabilities.
| Cash & Short Term Investments | 2.92M | 1.35T | 1.88M | 44.96K | 0 |
| Cash & Due from Banks | 135.58K | 1.35M | 1.88M | 44.96K | 0 |
| Short Term Investments | 0 | 1.35T | 0 | 0 | 0 |
| Total Investments | 8.55M | 1.35T | 120M | 0 | 25K |
| Investments Growth % | -372.35% | 1122271.69% | - | -100% | - |
| Long-Term Investments | 33.7M | 8.49M | 120M | 0 | 25K |
| Accounts Receivables | 0 | 13.74K | 25.8K | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 0 | 127.54K | 414.03K | 55K |
| Total Current Assets | 277.47K | 1.49T | 2.2M | 44.96K | 0 |
| Total Non-Current Assets | 8.55M | 8.49M | 120.13M | 414.03K | 80K |
| Total Assets | 8.83M | 9.98M | 122.33M | 458.99K | 80K |
| Asset Growth % | -369.68% | -91.84% | 26552.41% | 473.74% | - |
| Return on Assets (ROA) | -15.15% | 5862207.05% | 3.17% | -7.22% | -1.08% |
| Accounts Payable | 0 | 165.65K | 0 | 203.26K | 25.41K |
| Total Debt | 0 | 0 | 0 | 249.56K | 0 |
| Net Debt | -135.58K | -1.35M | -1.88M | 204.6K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 249.56K | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 2.59M | 1.66M | 1.04M | 454.32K | 80.86K |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.59M | 1.66M | 1.04M | 454.32K | 80.86K |
| Total Equity | -2.31M | 8.32M | 121.29M | 4.67K | -864 |
| Equity Growth % | -517.59% | -93.14% | 2598292.05% | 640.28% | - |
| Equity / Assets (Capital Ratio) | -26.2% | 83.41% | 99.15% | 1.02% | -1.08% |
| Return on Equity (ROE) | -26.91% | 5984116.41% | 3.21% | -1023.55% | - |
| Book Value per Share | -3.13 | 0.78 | 8.27 | 0.00 | -0.00 |
| Tangible BV per Share | -3.13 | 0.78 | 8.27 | 0.00 | -0.00 |
| Common Stock | 8.55M | 8.15M | 119.07M | 288 | 288 |
| Additional Paid-in Capital | 0 | 0 | 297.49K | 24.71K | 24.71K |
| Retained Earnings | -2.31M | 175.01K | 1.93M | -20.33K | -864 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 |
Imminent liquidation and insolvency
As reported in recent financial statements, ESHA's total assets have plummeted from $122.3 million in 2023Q4 to just $8.8 million by 2025Q3, signaling a severe contraction in the entity's capacity to execute a meaningful business combination as capital is depleted by redemptions and ongoing administrative overhead.
The precipitous decline in asset value suggests that the vehicle has lost the majority of its original trust capital, likely due to shareholder redemptions during extension votes. This trajectory indicates that the company is rapidly approaching a point where it may no longer be a viable partner for a target acquisition.
Based on the company's 2025Q3 filings, the current ratio has deteriorated to a precarious 0.11, reflecting a severe lack of liquid assets relative to short-term liabilities that leaves the shell company with virtually no buffer against further operational shocks or unexpected regulatory costs.
A current ratio of 0.11 implies that the company cannot cover its immediate obligations with existing liquid assets, suggesting that the entity is effectively insolvent without further capital injections or a successful merger. Investors should monitor whether the remaining cash is sufficient to even sustain the entity through the next quarter.
According to the balance sheet data, ESHA's equity position has shifted into negative territory at -$2.3 million as of 2025Q3, a stark reversal from the $121.3 million reported in 2023Q4 that highlights the total erosion of shareholder value through persistent losses and capital outflows.
The transition to negative equity indicates that the company's liabilities now exceed its total assets, which is a significant red flag for any remaining stakeholders. This development suggests that the entity's primary value proposition has been entirely consumed by the costs of maintaining a public listing without a corresponding business combination.
As indicated by the company's reported figures, the combination of a $2.6 million liability load and a mere $135.6K in cash reserves suggests that ESHA is likely facing an imminent liquidation event that could result in a total loss for remaining equity holders.
The discrepancy between the company's remaining liabilities and its available cash suggests that the entity may be unable to satisfy its final obligations without a capital infusion. This reality makes the prospect of a successful merger appear increasingly remote, as the entity lacks the financial flexibility to negotiate or close a deal.
Quick answers to the most common questions about buying ESHA stock.
As of 2024, ESH Acquisition Corp. (ESHA) had total assets of $10.0M including $1.49T in current assets.
ESH Acquisition Corp. (ESHA) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
ESH Acquisition Corp. (ESHA) has total shareholders' equity (book value) of $8.3M ($0.78 book value per share). Book value represents the net worth of the company belonging to common stock holders.
ESH Acquisition Corp. (ESHA) reported a current ratio of 901798.68x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.