Liquidity is rapidly evaporating, with the company burning $1.4 million in free cash flow during 2026Q1, leaving a precarious cash reserve of only $56,400.
| Cash from Operations | -3.58M | -2.29M | -122.91K |
| Operating CF Margin % | - | - | - |
| Operating CF Growth % | -1045.27% | -1759.67% | - |
| Net Income | 7.72M | 5.96M | -90.83K |
| Depreciation & Amortization | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | -10.05M | -7.62M | 0 |
| Working Capital Changes | -1.17M | -627.39K | -32.08K |
| Change in Receivables | -1.2M | -1.19M | 0 |
| Change in Inventory | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 |
| Cash from Investing | -250M | -250M | 0 |
| Capital Expenditures | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - |
| Acquisitions | 0 | - | - |
| Investments | 259.89M | 257.62M | 0 |
| Other Investing | -250M | 0 | 0 |
| Cash from Financing | 253.63M | 252.47M | 148.29K |
| Debt Issued (Net) | 0 | - | - |
| Equity Issued (Net) | 0 | 251.6M | 25K |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Other Financing | 252.47M | 0 | 0 |
| Net Change in Cash | 53.12K | 181.72K | 25.39K |
| Free Cash Flow | -3.58M | -2.29M | -122.91K |
| FCF Margin % | - | - | - |
| FCF Growth % | - | -1759.66% | - |
| FCF per Share | -0.14 | -0.12 | -0.00 |
| FCF Conversion (FCF/Net Income) | -0.46x | -0.38x | 1.35x |
| Interest Paid | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 |
Imminent liquidation and delisting
According to recent financial filings, SOUL reported net income of $1.6M in 2026Q1 while simultaneously burning $1.4M in operating cash, highlighting a profound divergence between accounting profits and actual liquidity that suggests non-operating items are masking the entity's underlying inability to generate sustainable cash flow.
The negative OCF/NI ratio of -0.90 in the most recent quarter indicates that reported earnings are entirely decoupled from the entity's cash reality. This suggests that investors should view the net income figures as accounting artifacts rather than indicators of operational health, as the shell lacks the revenue-generating activities required to bridge this gap.
As reported in quarterly statements, SOUL's free cash flow has remained consistently negative, with a $1.4M outflow in 2026Q1, confirming that the entity is consuming its remaining capital reserves at an accelerating pace without any offsetting cash inflows from operations or business combinations.
The persistent negative FCF trajectory underscores the entity's reliance on dwindling trust assets to fund mandatory administrative and regulatory expenses. This trend appears unsustainable, as the lack of positive cash generation suggests the entity is rapidly approaching a point where it can no longer support its own existence as a public shell.
Based on reported figures, SOUL experienced a significant working capital drain of $735.2K in 2026Q1, which further depleted the entity's limited liquidity and highlights the mounting pressure of administrative liabilities that must be settled in cash despite the absence of any incoming operational revenue streams.
The volatility in working capital changes suggests that the entity is struggling to manage its payables against a backdrop of shrinking cash reserves. This pattern warrants further investigation into whether the sponsors are forced to provide emergency funding to cover these essential outflows, as the current cash balance is insufficient to sustain such burn rates.
Financial statements indicate that SOUL's reported net income is heavily influenced by non-cash adjustments, which obscures the reality that the entity's cash position has dwindled to a mere $207,108, leaving it highly vulnerable to regulatory delisting or forced liquidation due to insufficient working capital.
The cash flow statement reveals that the entity's primary activity is the consumption of capital rather than the creation of value. Investors should monitor the potential for off-balance-sheet liabilities, such as deferred underwriting fees, which may become due upon a merger and further strain the entity's already precarious financial position.
Quick answers to the most common questions about buying SOUL stock.
Soulpower Acquisition Corp. (SOUL) generated $-2.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Soulpower Acquisition Corp. (SOUL) reported negative free cash flow of $2.3M in 2025, indicating capital requirements exceeded cash from operations.
Soulpower Acquisition Corp. (SOUL) 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.