The balance sheet reflects a precarious financial position, characterized by a current ratio of 0.09 and an accumulated retained earnings deficit of $6.8 million as of 2026Q1.
| Total Current Assets | 75.32K | 39.47K | 650.23K | 2.02K | 54.23K |
| Cash & Short-Term Investments | - | - | - | - | - |
| Cash Only | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 183.27M | 181.66M | 174.35M | 0 | 383.01K |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - |
| Goodwill | 0 | 0 | 9.06T | 0 | 0 |
| Intangible Assets | 0 | 0 | 12.57T | 0 | 0 |
| Long-Term Investments | 722.85M | 181.66M | 174.35M | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - |
| Total Assets | 183.35M | 181.7M | 175M | 2.02K | 437.24K |
| Asset Turnover | 0.00x | - | 0.01x | - | - |
| Asset Growth % | 289360.89% | 3.83% | 8659008.31% | -99.54% | - |
| Total Current Liabilities | 861.09K | 544.07K | 210.3K | 509.68K | 459.39K |
| Accounts Payable | 0 | 0 | 16.19K | 1.25K | 0 |
| Days Payables Outstanding | - | - | - | - | - |
| Short-Term Debt | 500K | 200K | 6.11T | 347.5K | 259K |
| Deferred Revenue (Current) | 0 | - | - | - | - |
| Other Current Liabilities | 361.08K | 344.07K | -6.11T | -1.25K | 0 |
| Current Ratio | 0.09x | 0.07x | 3.09x | 0.00x | 0.12x |
| Quick Ratio | 0.09x | 0.07x | 3.09x | 0.00x | 0.12x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 6.04M | 6.04M | 6.04M | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Liabilities | 6.9M | 6.58M | 6.25M | 509.68K | 459.34K |
| Total Debt | 500K | 200K | 347.5K | 347.5K | 259K |
| Net Debt | 475.37K | 170.21K | -90.67K | 345.48K | 256.77K |
| Debt / Equity | 0.00x | 0.00x | 0.00x | - | - |
| Debt / EBITDA | -0.57x | - | - | - | - |
| Net Debt / EBITDA | -0.54x | - | - | - | - |
| Interest Coverage | - | - | -0.14x | - | - |
| Total Equity | 176.45M | 175.12M | 168.75M | -507.66K | -22.11K |
| Equity Growth % | 64357.36% | 3.77% | 33341.43% | -2196.26% | - |
| Book Value per Share | 10.23 | 10.15 | 41.67 | -0.13 | -0.01 |
| Total Shareholders' Equity | 176.45M | 175.12M | 168.75M | -507.66K | -22.11K |
| Common Stock | 183.27M | 181.66M | 18.33B | 466 | 466 |
| Retained Earnings | -6.82M | -6.54M | -5.6M | -532.66K | -47.11K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 16.88B | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Insolvency and delisting risk
As reported in financial statements, TDAC's cash reserves have dwindled to a precarious $24,600 as of 2026Q1, while the current ratio has plummeted to 0.09, indicating that the entity lacks the necessary liquid assets to cover its immediate short-term obligations without further external sponsor intervention.
The current ratio of 0.09 highlights a severe mismatch between current assets and liabilities, suggesting that the company is effectively insolvent on a working capital basis. Investors should monitor the reliance on sponsor-backed promissory notes, as the current cash position is insufficient to sustain even basic administrative compliance costs for the remainder of the fiscal year.
Based on TDAC's reported figures, the company has accumulated $500,000 in debt as of 2026Q1, a trend that appears to be a necessity-driven mechanism to fund ongoing administrative expenses rather than a strategic capital allocation decision to support business growth or operational expansion.
The presence of debt in a pre-revenue shell company suggests that the entity is operating entirely on borrowed time and capital. This leverage structure warrants further investigation into the terms of these obligations, as they likely represent a priority claim that could dilute or subordinate equity holders in the event of a liquidation or failed merger.
According to recent SEC filings, the company's retained earnings have deteriorated to a deficit of $6.8 million by 2026Q1, reflecting a consistent pattern of capital consumption that has significantly eroded the equity base since the entity's incorporation in 2022.
The negative trajectory of retained earnings underscores the lack of value creation inherent in the current shell structure. The accumulation of these losses suggests that the entity's primary function has been the consumption of capital to maintain its public listing, rather than the development of any underlying business value.
As indicated by the financial data, the reported total assets of $183.3 million appear highly disconnected from the company's actual cash position of $24,600, suggesting that the balance sheet may contain non-cash accounting entries that do not represent realizable value for shareholders.
The significant gap between total assets and liquid cash warrants extreme caution, as it implies that the headline asset figure may be inflated by accounting artifacts or intangible valuations that lack economic substance. Investors should be wary of these figures, as they do not reflect the entity's true ability to fund a business combination or survive as a going concern.
Quick answers to the most common questions about buying TDAC stock.
As of 2025, Translational Development Acquisition Corp. (TDAC) had total assets of $181.7M including $0.0M in current assets.
Translational Development Acquisition Corp. (TDAC) carries total debt of $0.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Translational Development Acquisition Corp. (TDAC) has total shareholders' equity (book value) of $175.1M ($10.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Translational Development Acquisition Corp. (TDAC) reported a current ratio of 0.07x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.