The firm's equity position has deteriorated into a negative $3.5M deficit as of 2026Q1, reflecting a structural instability that warrants extreme caution regarding long-term solvency.
| Total Current Assets | 614.82K | 760.13K | 1.65K |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 156.35K | 93.21K | 0 |
| Total Non-Current Assets | 118.34M | 117.32M | 613 |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 116.17M | 0 | 0 |
| Other Non-Current Assets | - | - | - |
| Total Assets | 118.95M | 118.08M | 2.26K |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 0% | 5217927.49% | - |
| Total Current Liabilities | 78.42K | 84.04K | 15.95K |
| Accounts Payable | 0 | 9.04K | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 0 | 15.95K |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 78.42K | 84.04K | 0 |
| Current Ratio | 7.84x | 9.04x | 0.10x |
| Quick Ratio | 7.84x | 9.04x | 0.10x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 4.03M | 4.03M | 0 |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 4.1M | 4.11M | 15.95K |
| Total Debt | 0 | 0 | 15.95K |
| Net Debt | -458.47K | -666.92K | 15.95K |
| Debt / Equity | -0.00x | - | - |
| Debt / EBITDA | 0.00x | - | - |
| Net Debt / EBITDA | -0.58x | - | - |
| Interest Coverage | - | - | - |
| Total Equity | -3.49M | -3.32M | -13.68K |
| Equity Growth % | 0% | -24190.68% | - |
| Book Value per Share | -0.30 | -0.58 | -5.47 |
| Total Shareholders' Equity | -3.49M | -3.32M | -13.68K |
| Common Stock | 118.33M | 117.3M | 288 |
| Retained Earnings | -3.49M | -3.32M | -18.68K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Liquidation and funding risk
As reported in recent financial filings, Indigo Acquisition Corp.'s equity position shifted from a deficit of $102.4K in 2025Q2 to a negative $3.5M by 2026Q1, signaling a rapid erosion of net worth that underscores the precarious nature of the entity's current pre-combination shell status.
The transition into a deeper equity deficit suggests that the company is consuming its limited resources to sustain operations without generating any offsetting revenue. Investors should monitor this trend as it implies that the entity's ability to maintain its listing and search for a target is becoming increasingly dependent on external capital injections.
Based on the 2026Q1 balance sheet, the company holds only $458.5K in cash, a significant decline from the $717.1K reported in 2025Q3, which indicates that the firm's liquidity buffer is shrinking rapidly as it continues to fund ongoing administrative and regulatory search costs.
The current ratio of 7.84, while numerically high, is misleading given the absolute scarcity of liquid assets relative to the company's ongoing burn rate. This suggests that the entity may face a liquidity crunch in the near term if a business combination is not finalized, potentially forcing a reliance on dilutive financing.
According to the latest balance sheet data, the company's equity has deteriorated into a negative $3.5M position as of 2026Q1, a trend driven by accumulated losses that highlight the lack of internal value creation within the current shell structure.
The negative equity position suggests that the company's liabilities are currently outpacing its assets, which may complicate future negotiations for a business combination. This state of affairs warrants further investigation into whether the sponsor will be required to provide additional capital to stabilize the balance sheet before a merger can proceed.
As indicated by the 2026Q1 financial statements, the company reports $119.0M in total assets despite having no operating business, which suggests that the vast majority of these assets are likely held in a restricted trust account rather than being available for general corporate purposes.
This asset structure implies that the company's headline asset figure is largely inaccessible for day-to-day operations, leaving the firm reliant on its meager cash reserves for survival. Investors should be wary of interpreting the total asset figure as a measure of operational strength, as it is essentially a placeholder for a future, yet-to-be-determined acquisition.
Quick answers to the most common questions about buying INAC stock.
As of 2025, Indigo Acquisition Corp. (INAC) had total assets of $118.1M including $0.8M in current assets.
Indigo Acquisition Corp. (INAC) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Indigo Acquisition Corp. (INAC) has total shareholders' equity (book value) of $-3.3M ($-0.58 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Indigo Acquisition Corp. (INAC) reported a current ratio of 9.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.