The company maintains a zero-revenue profile while administrative expenses have surged from $31.0K in 2025Q1 to $172.5K in 2026Q1, reflecting the rising costs of maintaining public listing status.
| Sales/Revenue | 0 | - | - |
| Revenue Growth % | - | - | - |
| Cost of Goods Sold | 0 | - | - |
| COGS % of Revenue | - | - | - |
| Gross Profit | 0 | 0 | 0 |
| Gross Margin % | - | - | - |
| Gross Profit Growth % | - | - | - |
| Operating Expenses | 616.03K | 474.52K | 239 |
| OpEx % of Revenue | - | - | - |
| Selling, General & Admin | 616.03K | 474.52K | 239 |
| SG&A % of Revenue | - | - | - |
| Research & Development | 0 | - | - |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 0 | - | - |
| Operating Income | -616.03K | -474.52K | -19.93K |
| Operating Margin % | - | - | - |
| Operating Income Growth % | - | -2280.72% | - |
| EBITDA | 1.07M | -474.52K | -19.93K |
| EBITDA Margin % | - | - | - |
| EBITDA Growth % | - | -2280.72% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 |
| EBIT | 1.07M | -474.52K | -19.93K |
| Net Interest Income | 4.91M | 3.36M | 0 |
| Interest Income | 4.91M | 3.36M | 0 |
| Interest Expense | 0 | 0 | 0 |
| Other Income/Expense | 0 | - | - |
| Pretax Income | 4.29M | 2.89M | -239 |
| Pretax Margin % | - | - | - |
| Income Tax | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% |
| Net Income | 4.29M | 2.89M | -239 |
| Net Margin % | - | - | - |
| Net Income Growth % | - | 1208928.87% | - |
| Net Income (Continuing) | 4.29M | 2.89M | -239 |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | 0.20 | 0.13 | -0.00 |
| EPS Growth % | - | - | - |
| EPS (Basic) | - | 0.13 | -0.00 |
| Diluted Shares Outstanding | 21.56M | 21.56M | 18.75M |
| Basic Shares Outstanding | 21.56M | 21.56M | 18.75M |
| Dividend Payout Ratio | - | - | - |
Liquidation and capital exhaustion
As indicated by the company's financial filings, ONCH maintains a zero-revenue profile, reflecting its status as a pre-merger shell entity that lacks any underlying commercial activity or organic growth trajectory to support its current public listing status.
The lack of revenue is a structural feature of the company's current lifecycle phase rather than an operational failure. Investors should recognize that the absence of top-line growth is permanent until a definitive business combination is executed, rendering traditional revenue analysis inapplicable.
According to quarterly income statements, SG&A expenses have trended upward from $31.0K in 2025Q1 to $172.5K in 2026Q1, highlighting the increasing cost of maintaining regulatory compliance and public exchange listing requirements for this shell vehicle.
The rising administrative costs suggest that the company is consuming its limited capital reserves at an accelerating rate. This expense discipline is critical, as the company lacks any offsetting income to mitigate the ongoing erosion of its cash position.
Based on reported figures, the company's net income of $1.4M in 2026Q1 appears disconnected from its operating losses, suggesting that non-operating items or derivative warrant adjustments are significantly inflating the bottom line and masking the underlying cash burn.
The divergence between operating losses and positive net income warrants caution, as these non-cash gains do not improve the company's liquidity or ability to fund a merger. Investors should focus on the operating loss trajectory rather than the reported net income to assess the true health of the entity.
With a reported cash balance of only $383,075, the company faces a precarious liquidity position that may necessitate dilutive sponsor financing, as the current burn rate threatens to exhaust available funds before a viable merger target can be secured.
The limited cash reserves create a high-pressure environment for management to close a deal, potentially forcing them into unfavorable terms. The reliance on external capital to sustain operations suggests that the current structure is highly vulnerable to market volatility and rising interest rates.
Quick answers to the most common questions about buying ONCH stock.
1RT Acquisition Corp. (ONCH) is profitable, generating $2.9M in net income for the fiscal year ending 2025.