The company's financial position appears structurally fragile, evidenced by a negative equity position of $250.9K and an accumulated deficit of $8.7M in retained earnings.
| Total Current Assets | 803.24K | 803.24K | 559.9K |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | 0 | 245.59K |
| Total Non-Current Assets | 99.39K | 99.39K | 137.41K |
| Property, Plant & Equipment | 45.47K | 45.47K | 79.1K |
| Fixed Asset Turnover | 0.00x | 48.68x | 7.36x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 45.64K | 45.64K | 48.8K |
| Long-Term Investments | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - |
| Total Assets | 902.63K | 902.63K | 697.31K |
| Asset Turnover | 0.00x | 2.45x | 0.84x |
| Asset Growth % | 0% | 29.44% | - |
| Total Current Liabilities | 266.32K | 266.32K | 1.53M |
| Accounts Payable | 84.65K | 84.65K | 67.68K |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 0 | 0 | 0 |
| Current Ratio | 3.02x | 3.02x | 0.37x |
| Quick Ratio | 3.02x | 3.02x | 0.37x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 887.17K | 887.17K | 159.23K |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 1.15M | 1.15M | 1.69M |
| Total Debt | 0 | 0 | 0 |
| Net Debt | -323.74K | -323.74K | -4.4K |
| Debt / Equity | -0.00x | - | - |
| Debt / EBITDA | 0.00x | - | - |
| Net Debt / EBITDA | -10.85x | -0.40x | - |
| Interest Coverage | - | - | - |
| Total Equity | -250.87K | -250.87K | -995.58K |
| Equity Growth % | 0% | 74.8% | - |
| Book Value per Share | -0.02 | -0.02 | -0.06 |
| Total Shareholders' Equity | -250.87K | -250.87K | -995.58K |
| Common Stock | 11.46K | 11.46K | 11.46K |
| Retained Earnings | -8.65M | -8.65M | -9.39M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Negative equity and liquidity
As reported in the 2024Q3 financial statements, PLTS exhibits a negative equity position of $250.9K, which, when contrasted with the firm's total assets of $902.6K, suggests that historical losses have eroded the capital base and left the company in a precarious financial state.
The transition to a negative equity position indicates that the firm's cumulative losses have outpaced its ability to generate internal capital. Investors should monitor whether this trajectory reflects aggressive early-stage investment or a fundamental inability to achieve sustainable profitability at the current scale.
Based on the 2024Q3 balance sheet, the company maintains a cash balance of $323.7K, which provides a limited buffer against operational volatility given the firm's reported cash burn and the absence of significant liquid assets to support ongoing institutional service requirements.
While the current ratio of 3.02 appears superficially healthy, the underlying composition of assets suggests that liquidity is tightly constrained. The reliance on a small cash reserve to fund operations in a high-latency, capital-intensive fintech environment warrants further investigation into the firm's ability to meet short-term obligations.
According to the latest quarterly filings, the firm reports an accumulated deficit of $8.7M in retained earnings, a figure that highlights the significant capital consumption required to build the current ECN and liquidity management infrastructure over the company's operating history.
The substantial deficit in retained earnings suggests that the business model has yet to reach a point of self-sustaining capital generation. This persistent erosion of equity may necessitate future external financing, which could lead to dilution for existing shareholders if the firm cannot pivot toward positive cash flow.
As indicated by the 2024Q3 data, the firm's asset base is heavily reliant on $45.6K in goodwill and $45.5K in net PPE, which together represent a meaningful portion of the $902.6K total assets, potentially overstating the tangible value available to creditors.
The presence of goodwill on the balance sheet suggests that past acquisitions or intangible investments are being carried at values that may not be easily liquidated in a stress scenario. Analysts should consider whether these intangible assets are truly representative of the firm's competitive moat or if they mask a lack of tangible, revenue-generating infrastructure.
Quick answers to the most common questions about buying PLTS stock.
As of 2024, Platinum Analytics Cayman Limited Class A Ordinary Shares (PLTS) had total assets of $0.9M including $0.8M in current assets.
Platinum Analytics Cayman Limited Class A Ordinary Shares (PLTS) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Platinum Analytics Cayman Limited Class A Ordinary Shares (PLTS) has total shareholders' equity (book value) of $-0.3M ($-0.02 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Platinum Analytics Cayman Limited Class A Ordinary Shares (PLTS) reported a current ratio of 3.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.