The balance sheet has deteriorated significantly, with shareholder equity falling to a deficit of $9.0M by 2026Q1 and total debt rising to $4.0M.
| Cash & Short Term Investments | 9.48M | 3.09M | 566 | 37.95K | 88.25K | 507.91K |
| Cash & Due from Banks | 49.84K | 111 | 566 | 37.95K | 88.25K | 507.91K |
| Short Term Investments | 2.84M | 3.09M | 0 | 0 | 0 | 0 |
| Total Investments | 2.84M | 3.09M | 0 | 12.45M | 19.57M | 116.15M |
| Investments Growth % | -100% | - | -100% | -36.37% | -83.15% | - |
| Long-Term Investments | 0 | 0 | 0 | 12.45M | 19.57M | 116.15M |
| Accounts Receivables | 97.43K | 97.43K | 97.43K | 0 | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2.84M | 3.09M | 3.14M | 12.45M | 19.57M | 276.8K |
| Total Current Assets | 185.77K | 97.55K | 195.08K | 270.88K | 366.02K | 901.41K |
| Total Non-Current Assets | 2.84M | 3.09M | 3.14M | 12.45M | 19.57M | 116.43M |
| Total Assets | 3.03M | 3.18M | 3.34M | 12.72M | 19.94M | 117.33M |
| Asset Growth % | -102.47% | -4.64% | -73.75% | -36.18% | -83.01% | - |
| Return on Assets (ROA) | -27.13% | -43.37% | -27.79% | -7.03% | -0.33% | -0.27% |
| Accounts Payable | 3.3M | 3.27M | 2.47M | 992K | 382.87K | 94.76K |
| Total Debt | 3.96M | 3.73M | 2.88M | 1.5M | 125K | 0 |
| Net Debt | 3.91M | 3.73M | 2.88M | 1.46M | 36.75K | -507.91K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 3.96M | 3.73M | 2.88M | 1.5M | 125K | 0 |
| Other Liabilities | 4.03M | 4.03M | 4.03M | 4.03M | 0 | 0 |
| Total Current Liabilities | 8M | 7.79M | 6.01M | 2.99M | 928.87K | 94.76K |
| Total Non-Current Liabilities | 4.03M | 4.03M | 4.03M | 4.03M | 4.03M | 4.03M |
| Total Liabilities | 12.02M | 11.82M | 10.03M | 7.01M | 4.95M | 4.12M |
| Total Equity | -8.99M | -8.63M | -6.69M | 5.71M | 14.98M | 113.21M |
| Equity Growth % | -458.14% | -28.95% | -217.2% | -61.88% | -86.76% | - |
| Equity / Assets (Capital Ratio) | -296.68% | -271.02% | -200.42% | 44.89% | 75.15% | 96.49% |
| Return on Equity (ROE) | 10.31% | - | - | -11.09% | -0.35% | -0.28% |
| Book Value per Share | -41.39 | -34.87 | -1.99 | 1.30 | 3.14 | 7.88 |
| Tangible BV per Share | -41.39 | -34.87 | -1.99 | 1.30 | 3.14 | 7.88 |
| Common Stock | 2.94M | 3.18M | 3.24M | 12.45M | 19.57M | 116.15M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -11.93M | -11.82M | -9.94M | -6.74M | -4.59M | -2.94M |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent Liquidation Risk
As reported in recent SEC filings, WINV's equity has deteriorated from a positive $5.7M in 2023Q4 to a deficit of $9.0M by 2026Q1, signaling a severe and persistent erosion of shareholder value as the entity struggles to maintain its listing status while pursuing the Insight Guru merger.
The consistent decline in equity reflects the accumulation of operating losses that have not been offset by any revenue-generating activities. This trajectory suggests that the company is rapidly exhausting its remaining financial resources, leaving little room for error as the timeline for the definitive agreement continues to extend.
According to quarterly financial statements, WINV's debt load has climbed to $4.0M as of 2026Q1, representing a significant increase from the $1.5M reported in 2023Q4 and indicating a growing reliance on external financing to fund ongoing administrative costs during the prolonged pre-merger phase.
The accumulation of debt in the absence of operational cash flow suggests that the sponsor is likely providing bridge financing to keep the entity afloat. Investors should monitor whether this debt burden will become a senior claim that complicates the eventual merger terms with Insight Guru Inc.
Based on the most recent balance sheet data, WINV's cash position has plummeted to a nominal $49.8K, with a current ratio of 0.02, illustrating an extreme liquidity crisis that leaves the company with virtually no buffer to cover essential professional fees or regulatory compliance costs.
The current ratio of 0.02 is indicative of a shell company that has effectively exhausted its working capital. This precarious position suggests that the entity may be unable to sustain its operations for much longer without an immediate and substantial capital injection from the sponsor or other external sources.
As indicated by the company's financial disclosures, the shift to a negative equity position of $9.0M by 2026Q1 highlights a significant distortion where liabilities now vastly exceed assets, potentially triggering technical defaults or listing non-compliance issues that are not immediately apparent from headline cash figures alone.
The negative equity position suggests that the company is technically insolvent, relying entirely on the hope of a successful merger to rectify its balance sheet. This structural imbalance warrants further investigation into the terms of the sponsor loans, as they may contain conversion features that could lead to significant dilution for public shareholders.
Quick answers to the most common questions about buying WINV stock.
As of 2025, WinVest Acquisition Corp. (WINV) had total assets of $3.2M including $0.1M in current assets.
WinVest Acquisition Corp. (WINV) carries total debt of $3.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
WinVest Acquisition Corp. (WINV) has total shareholders' equity (book value) of $-8.6M ($-34.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
WinVest Acquisition Corp. (WINV) reported a current ratio of 0.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.