Operating cash flow remains consistently negative, evidenced by a $187.8K outflow in 2026Q1, which highlights a fundamental disconnect between reported accounting profits and actual cash availability.
| Cash from Operations | -685.2K | -497.44K | 0 |
| Operating CF Margin % | - | - | - |
| Operating CF Growth % | 0% | - | - |
| Net Income | 4.29M | 2.89M | -239 |
| Depreciation & Amortization | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | -4.87M | -3.31M | 239 |
| Working Capital Changes | -113.23K | -71.99K | 0 |
| Change in Receivables | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 |
| Cash from Investing | -172.5M | -172.5M | 0 |
| Capital Expenditures | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - |
| Acquisitions | 0 | - | - |
| Investments | 177.41M | 0 | 0 |
| Other Investing | 0 | -172.5M | 0 |
| Cash from Financing | -158.01K | 173.38M | 0 |
| Debt Issued (Net) | 0 | - | - |
| Equity Issued (Net) | 173.77M | 174M | 0 |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Other Financing | -173.69M | -376.95K | 0 |
| Net Change in Cash | 191.06K | 383.07K | 0 |
| Free Cash Flow | -685.2K | -497.44K | 0 |
| FCF Margin % | - | - | - |
| FCF Growth % | - | - | - |
| FCF per Share | -0.03 | -0.02 | - |
| FCF Conversion (FCF/Net Income) | -0.16x | -0.17x | - |
| Interest Paid | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 |
Liquidation and capital exhaustion
As reported in recent financial statements, ONCH recorded a net income of $1.4M in 2026Q1, yet simultaneously generated an operating cash outflow of $187.8K, highlighting a profound divergence between accounting profitability and the actual cash resources available to sustain the entity's ongoing regulatory and administrative obligations.
The negative OCF/NI ratio suggests that the reported net income is driven by non-cash accounting adjustments, likely related to warrant valuations, rather than operational success. Investors should monitor this gap, as it indicates that the company's accounting performance provides no insight into its actual ability to fund operations.
Based on the company's quarterly filings, ONCH has consistently reported negative free cash flow, with outflows reaching $204.4K in 2025Q4 and $187.8K in 2026Q1, confirming that the shell vehicle is actively consuming its limited capital reserves to maintain its public listing status without any offsetting revenue.
The trajectory of these outflows suggests a structural reliance on external capital to cover fixed administrative costs. Without a near-term merger, the persistent negative FCF trend implies that the company's liquidity will continue to erode, potentially forcing management to seek dilutive financing.
According to recent SEC filings, ONCH experienced a working capital outflow of $15.2K in 2026Q1, following a more significant $87.3K outflow in 2025Q4, which indicates that the company's limited cash is being steadily depleted by the timing of professional fees and other necessary administrative expenditures.
The erratic nature of these working capital changes reflects the lack of a predictable operational cycle. This volatility warrants further investigation, as it suggests that even minor fluctuations in vendor payment timing could place additional stress on the company's already thin cash position.
As indicated by the provided financial data, the company's cash flow statement fails to account for the potential impact of success-based deferred underwriting fees, which remain off-balance sheet until a merger occurs, effectively masking the true extent of the company's future capital requirements and potential dilution risks.
The current cash balance of $383,075 appears insufficient to cover both ongoing burn and these latent liabilities. Analysts should interpret the current cash flow figures as incomplete, as they do not reflect the significant financial obligations that will trigger upon the successful completion of a business combination.
Quick answers to the most common questions about buying ONCH stock.
1RT Acquisition Corp. (ONCH) generated $-0.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
1RT Acquisition Corp. (ONCH) reported negative free cash flow of $0.5M in 2025, indicating capital requirements exceeded cash from operations.
1RT Acquisition Corp. (ONCH) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.