Financial leverage remains a critical concern, with a debt-to-equity ratio of 3.77 as of 2024Q4, indicating an increasing reliance on external financing to sustain operations.
| Total Current Assets | 5.83M | 4.13M | 5.83M | 4.6M | 5.04M |
| Cash & Short-Term Investments | 2.64M | 2.45M | 2.64M | 1.12M | 806.63K |
| Cash Only | 2.64M | 188.14K | 2.64M | 1.12M | 806.63K |
| Short-Term Investments | 0 | 2.26M | 0 | 0 | 0 |
| Accounts Receivable | 28.89K | 724.23K | 28.89K | 563.14K | 363.29K |
| Days Sales Outstanding | 3.34 | 187.6 | 0.6 | 10.93 | 9.32 |
| Inventory | 2.17M | 915.53K | 2.17M | 2M | 3.16M |
| Days Inventory Outstanding | 28.75 | 243.45 | 48.91 | 41.8 | 88.9 |
| Other Current Assets | 380.98K | 3.74K | 380.98K | 378.48K | 378.56K |
| Total Non-Current Assets | 800.32K | 973.38K | 800.32K | 969.91K | 953.45K |
| Property, Plant & Equipment | 1.02K | 107.02K | 1.02K | 2.23K | 3.95K |
| Fixed Asset Turnover | 15363.69x | 13.17x | 17189.62x | 8444.53x | 3602.22x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 347.26K | 0 | 0 | 0 |
| Long-Term Investments | 817.47K | 446.83K | 0 | 817.47K | 802.19K |
| Other Non-Current Assets | 639.59K | 72.27K | 639.59K | 0 | 0 |
| Total Assets | 6.63M | 5.1M | 6.63M | 5.57M | 5.99M |
| Asset Turnover | 4.61x | 0.28x | 2.66x | 3.38x | 2.37x |
| Asset Growth % | 19.03% | -23% | 19.03% | -7.08% | - |
| Total Current Liabilities | 2.03M | 634.25K | 2.03M | 2.75M | 3.2M |
| Accounts Payable | 61.79K | 447.24K | 61.79K | 277.5K | 243.8K |
| Days Payables Outstanding | 3.08 | 118.92 | 1.39 | 5.81 | 6.86 |
| Short-Term Debt | 1.95M | 150.74K | 1.95M | 2.36M | 2.28M |
| Deferred Revenue (Current) | 76.28K | 3.16K | 0 | 14.52K | 107.96K |
| Other Current Liabilities | 0 | 33.1K | 0 | 0 | 0 |
| Current Ratio | 2.87x | 6.51x | 2.87x | 1.67x | 1.57x |
| Quick Ratio | 1.80x | 5.07x | 1.80x | 0.95x | 0.59x |
| Cash Conversion Cycle | 29 | 312.12 | 48.12 | 46.92 | 91.35 |
| Total Non-Current Liabilities | 3.23M | 1.67M | 3.23M | 3.41M | 3.58M |
| Long-Term Debt | 3.23M | 1.67M | 3.23M | 3.41M | 3.58M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 5.25M | 2.3M | 5.25M | 6.16M | 6.78M |
| Total Debt | 5.18M | 1.82M | 5.18M | 5.77M | 5.86M |
| Net Debt | 2.54M | 1.63M | 2.54M | 4.65M | 5.05M |
| Debt / Equity | 3.77x | 0.65x | 3.77x | - | - |
| Debt / EBITDA | 9.87x | - | 22.55x | 10.92x | 29.91x |
| Net Debt / EBITDA | 4.84x | - | 11.05x | 8.80x | 25.79x |
| Interest Coverage | 0.65x | -5.32x | 0.82x | 1.63x | 1.45x |
| Total Equity | 1.37M | 2.8M | 1.37M | -591.51K | -789.65K |
| Equity Growth % | 332.16% | 103.95% | 332.16% | 25.09% | - |
| Book Value per Share | 0.06 | 0.11 | 0.07 | -0.02 | -0.03 |
| Total Shareholders' Equity | 1.37M | 2.8M | 1.37M | -591.51K | -789.65K |
| Common Stock | 11.1K | 1.6K | 11.1K | 10K | 10K |
| Retained Earnings | -638.38K | 1.5M | -638.38K | -596.16K | -792.89K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 377 | -1.29K | 377 | 3.37K | 1.95K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Insolvency and liquidity depletion
As reported in recent financial filings, SORA's total equity position has fluctuated from a deficit of $591.5K in 2023Q4 to a positive $1.4M by 2024Q4, yet this improvement appears driven by non-operational accounting adjustments rather than sustainable growth in the underlying luxury trading business.
The volatility in equity suggests that the company's capital base is highly sensitive to non-recurring items rather than organic earnings retention. Investors should monitor whether this recent equity recovery is merely a temporary accounting artifact, as the core business remains fundamentally challenged by its inability to generate consistent operating profits.
Based on the latest balance sheet data, SORA maintains a debt-to-equity ratio of 3.77 as of 2024Q4, which indicates that the company is increasingly reliant on external financing to support its operations despite a significant contraction in its core luxury watch distribution activities.
The high leverage ratio relative to the company's minimal asset base suggests that debt is being used as a necessity to fund ongoing operations rather than for strategic growth. This reliance on debt in a period of declining revenue warrants caution, as it increases the risk of default if the company fails to secure new inventory or trading opportunities.
According to the 2024Q4 balance sheet, SORA reports a current ratio of 2.87, yet this figure masks the reality that cash reserves are insufficient to cover the company's $5.2M debt load, leaving the firm with a very limited buffer against further operational shocks.
While the current ratio appears superficially healthy, the absolute level of liquidity is inadequate for a business operating in the high-cost luxury watch sector. The company's inability to maintain a consistent cash position suggests that it may face significant challenges in meeting short-term obligations if its trading volume does not recover immediately.
Financial statements indicate that the company's balance sheet is heavily distorted by non-operational items, as the shift from negative equity to a positive $1.4M position does not align with the reported operational losses observed in the income statement over the same period.
This disconnect suggests that the balance sheet is being propped up by non-recurring financial maneuvers, such as debt restructuring or asset sales, rather than fundamental business improvements. Analysts should be wary of these distortions, as they obscure the true financial health of the entity and may lead to an overestimation of its long-term viability.
Quick answers to the most common questions about buying SORA stock.
As of 2025, AsiaStrategy (SORA) had total assets of $5.1M including $4.1M in current assets.
AsiaStrategy (SORA) carries total debt of $1.8M, offset by $2.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
AsiaStrategy (SORA) has total shareholders' equity (book value) of $2.8M ($0.11 book value per share). Book value represents the net worth of the company belonging to common stock holders.
AsiaStrategy (SORA) reported a current ratio of 6.51x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.