The capital structure has deteriorated significantly, with total assets shrinking to $6.6 million against $12.2 million in liabilities, resulting in a negative equity position of -$5.6 million as of 2025Q4.
| Total Current Assets | 145.25K | 15.26B | 7.59K | 334.88K | 1.53M |
| Cash & Short-Term Investments | - | - | - | - | - |
| Cash Only | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 141.23K | 14.08B | 833 | 0 | 332.63K |
| Total Non-Current Assets | 6.46M | 12.26M | 23.93M | 79.86M | 75M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 23.93M | 79.86M | 75M |
| Other Non-Current Assets | - | - | - | - | - |
| Total Assets | 6.61M | 12.27T | 23.94M | 80.19M | 76.53M |
| Asset Turnover | - | - | - | - | - |
| Asset Growth % | -100% | 51270081.54% | -70.15% | 4.78% | - |
| Total Current Liabilities | 9.51M | 8.23T | 6.65M | 3.91M | 140.42K |
| Accounts Payable | 0 | 2.93M | 2.85M | 1.82M | 0 |
| Days Payables Outstanding | - | - | - | - | - |
| Short-Term Debt | 0 | 4.04M | 2.85M | 1.55M | 0 |
| Deferred Revenue (Current) | - | - | - | - | - |
| Other Current Liabilities | 9.51M | 8.23T | 0 | 2.19M | 140.42K |
| Current Ratio | 0.02x | 0.00x | 0.00x | 0.09x | 10.92x |
| Quick Ratio | 0.02x | 0.00x | 0.00x | 0.09x | 10.92x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 2.7M | 2.7T | 2.7M | 2.7M | 2.63M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Liabilities | 12.22M | 10.93T | 9.35M | 6.62M | 2.77M |
| Total Debt | 0 | 4.04M | 2.85M | 1.55M | 0 |
| Net Debt | -4.02K | 4.04M | 2.84M | 1.24M | -1.2M |
| Debt / Equity | - | 0.00x | 0.20x | 0.02x | - |
| Debt / EBITDA | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | -24.50x |
| Interest Coverage | - | - | - | -1.97x | - |
| Total Equity | -5.61M | 1.34T | 14.58M | 73.57M | 73.77M |
| Equity Growth % | -100% | 9208266.98% | -80.18% | -0.26% | - |
| Book Value per Share | -7.25 | 829537.99 | 2.26 | 7.36 | 7.59 |
| Total Shareholders' Equity | -5.61M | 1.34T | 14.58M | 73.57M | 73.77M |
| Common Stock | 13.01M | 24.42T | 23.85M | 79.51M | 75M |
| Retained Earnings | -12.01M | -10.8T | -9.27M | -5.94M | -1.23M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Imminent Liquidation Risk
According to recent quarterly filings, WTMA's total assets have plummeted from $40.0 million in 2023Q3 to just $6.6 million by 2025Q4, signaling a rapid deterioration in the company's financial position as it struggles to maintain its status as a viable acquisition vehicle.
The consistent decline in total assets suggests that the company is consuming its remaining resources to fund ongoing administrative costs rather than preserving capital for a potential merger. This downward trajectory indicates that the firm's ability to execute a transaction is diminishing with each passing quarter.
As reported in financial statements, WTMA's cash position has dwindled to a nominal $4,022 as of 2025Q4, leaving the company with a current ratio of 0.02 and virtually no buffer to cover its mounting regulatory and professional service obligations.
This extreme liquidity constraint implies that the company is likely operating on a day-to-day basis, potentially relying on sponsor support to remain a going concern. Investors should monitor whether this cash level necessitates an immediate capital infusion or triggers a mandatory liquidation event.
Based on WTMA's reported figures, the company's equity has shifted into negative territory, reaching -$5.6 million in 2025Q4, which underscores the significant erosion of shareholder value since the company's inception and the accumulation of substantial retained losses.
The transition to negative equity suggests that the company's liabilities now exceed its assets, a condition that typically precedes a restructuring or dissolution. This trend indicates that the original capital provided by investors has been largely exhausted by the costs of maintaining the shell entity.
Data from recent filings indicates that WTMA's liabilities remain elevated at $12.2 million despite the shrinking asset base, suggesting that the company may be carrying significant deferred obligations or sponsor loans that could complicate any potential merger or liquidation process.
The disparity between the company's minimal cash and its substantial liabilities warrants further investigation into the nature of these debts. It appears that the firm's balance sheet is heavily burdened by obligations that may prioritize sponsor recovery over the interests of public shareholders.
Quick answers to the most common questions about buying WTMA stock.
As of 2025, Welsbach Technology Metals Acquisition Corp. (WTMA) had total assets of $6.6M including $0.1M in current assets.
Welsbach Technology Metals Acquisition Corp. (WTMA) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Welsbach Technology Metals Acquisition Corp. (WTMA) has total shareholders' equity (book value) of $-5.6M ($-7.25 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Welsbach Technology Metals Acquisition Corp. (WTMA) reported a current ratio of 0.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.