The balance sheet reflects severe long-term value erosion, with an accumulated deficit reaching $352.3M by 2026Q2 and a reliance on $12.7M in total debt to sustain operations.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Dec'06 |
|---|
| Total Current Assets | 177.95M | 3.73M | 10.47M | 16.05M | 27.87M | 7.64M | 3.16M | 52.51M | 50.65M | 76.73M | 90.72M | 115.83M | 136.9M | 123.47M | 137.25M | 108.35M | 45.83M | 25.3M | 16.24M | 0 |
| Cash & Short-Term Investments | 1.67M | 1.06M | 20.22K | 239.47K | 872.31K | 174.19K | 988.7K | 319.51K | 1.1M | 4.43M | 5.1M | 19.16M | 43.56M | 15.61M | 8.95M | 14.76M | 3.36M | 4.16M | 2.89M | 0 |
| Cash Only | 1.67M | 1.06M | 20.22K | 239.47K | 872.31K | 174.19K | 988.7K | 319.51K | 1.1M | 4.43M | 5.1M | 13.75M | 28.84M | 10.44M | 8.95M | 2.54M | 3.36M | 453.19K | 913.09K | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.4M | 14.72M | 5.17M | 0 | 12.22M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.28M | 2.67M | 1.6M | 5.5M | 9.33M | 3.2M | 1M | 2.3K | 44.79M | 47.78M | 47.38M | 41.44M | 53.49M | 74.93M | 111.28M | 87.02M | 37.49M | 15.67M | 9.87M | 0 |
| Days Sales Outstanding | 30.91 | 111.56 | 206.97 | - | 206.09 | 172.2 | - | - | 357.47 | 387.16 | 322.18 | 272.66 | 400.97 | 367.15 | 279.83 | 230.31 | 147.07 | 144.03 | 130.71 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 427.19K | 626.74K | 38.23M | 53.4M | 1.56M | 1.12M | 2.04M | 1.47M | 2.16M | 1.22M | 237.84K | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 4 | 5.2 | 268.67 | 384.03 | 12.94 | 6.74 | 6.4 | 4.79 | 10.72 | 18.1 | 4.17 | - |
| Other Current Assets | 174.99M | 0 | 0 | 0 | 0 | 0 | 0 | 52.16M | 0 | 0 | 0 | 1.84M | 2.59M | 3.99M | 3.29M | 0 | 0 | 4.26M | 3.24M | 0 |
| Total Non-Current Assets | 17.67M | 32.09M | 17.12M | 14M | 25.6M | 73.43M | 3.96M | 1.66M | 2.75M | 3.64M | 4.71M | 12.34M | 15.73M | 22.3M | 26.96M | 36.49M | 39.65M | 32.23M | 23.28M | 2.57K |
| Property, Plant & Equipment | 17.67M | 32.09M | 112.45K | 17.03K | 30.23K | 9.16M | 3.96M | 0 | 2.75M | 3.64M | 4.71M | 11.84M | 15.73M | 18.37M | 25.24M | 33.79M | 34.87M | 22.09M | 16.73M | 2.57K |
| Fixed Asset Turnover | 2.20x | 0.27x | 25.17x | - | 546.48x | 0.74x | - | - | 16.64x | 12.36x | 11.40x | 4.69x | 3.09x | 4.05x | 5.75x | 4.08x | 2.67x | 1.80x | 1.65x | 22.52x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 17.01M | 13.97M | 25.57M | 64.27M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.71M | 0 | 0 | 364.37K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 12.06K | 0 | 0 | 0 | 1.66M | 0 | 0 | 0 | 498.6K | 0 | 0 | 1.14M | 2.7M | 4.29M | 10.14M | 6.55M | 0 |
| Total Assets | 195.62M | 35.82M | 27.59M | 30.04M | 53.46M | 81.08M | 7.12M | 54.17M | 53.4M | 80.38M | 95.43M | 128.16M | 152.63M | 145.77M | 164.21M | 144.84M | 85.48M | 57.53M | 39.52M | 2.57K |
| Asset Turnover | 0.42x | 0.24x | 0.10x | - | 0.31x | 0.08x | - | - | 0.86x | 0.56x | 0.56x | 0.43x | 0.32x | 0.51x | 0.88x | 0.95x | 1.09x | 0.69x | 0.70x | 22.52x |
| Asset Growth % | 1155.68% | 29.83% | -8.16% | -43.81% | -34.06% | 1038.8% | -86.86% | 1.43% | -33.56% | -15.77% | -25.54% | -16.03% | 4.7% | -11.23% | 13.38% | 69.43% | 48.59% | 45.59% | 1537451.83% | - |
| Total Current Liabilities | 8.41M | 12.5M | 9.06M | 5.33M | 5.02M | 4.12M | 528.83K | 53.64M | 43.7M | 70.5M | 74.3M | 88.46M | 111.05M | 85.52M | 85.21M | 61.13M | 21.51M | 20.04M | 13.08M | 7.5K |
| Accounts Payable | 0 | 0 | 3.27M | 3.27M | 3.77M | 0 | 0 | 0 | 10.34M | 29.08M | 31.23M | 23.4M | 32.5M | 33.73M | 57.17M | 41.32M | 16.47M | 10.72M | 6.29M | 0 |
| Days Payables Outstanding | 20.41 | - | 598.92 | 203.84 | 161.04 | - | - | - | 96.72 | 241.5 | 219.49 | 168.29 | 269.2 | 202.61 | 179.04 | 134.34 | 81.58 | 159.63 | 110.44 | - |
| Short-Term Debt | 5.11M | 4.01M | 875K | 0 | 0 | 0 | 0 | 308.09K | 26.06M | 31.71M | 34.62M | 58.38M | 72.06M | 46.22M | 19.81M | 15.47M | 0 | 4.51M | 4.27M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 3.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.26M | 0 | 940.2K | 0 | 0 | 527.85K | 528.83K | 53.26M | 7.12M | 9.6M | 8.36M | 6.68M | 6.33M | 5.49M | 7.19M | 3.64M | 3.5M | 4.8M | 2.52M | 0 |
| Current Ratio | 21.17x | 0.30x | 1.16x | 3.01x | 5.55x | 1.85x | 5.98x | 0.98x | 1.16x | 1.09x | 1.22x | 1.31x | 1.23x | 1.44x | 1.61x | 1.77x | 2.13x | 1.26x | 1.24x | - |
| Quick Ratio | 21.17x | 0.30x | 1.16x | 3.01x | 5.55x | 1.85x | 5.98x | 0.98x | 1.15x | 1.08x | 0.71x | 0.71x | 1.22x | 1.43x | 1.59x | 1.75x | 2.03x | 1.20x | 1.22x | - |
| Cash Conversion Cycle | 10.5 | - | - | - | - | - | - | - | 264.75 | 150.86 | 371.37 | 488.4 | 144.71 | 171.29 | 107.19 | 100.76 | 76.21 | 2.5 | 24.44 | - |
| Total Non-Current Liabilities | 7.58M | 0 | 8.58K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.18M | 3.56M | 0 | 618.66K | 2.79M | 0 | 5.83M | 0 |
| Long-Term Debt | 7.58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.83M | 0 |
| Capital Lease Obligations | 0 | 0 | 8.58K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.18M | 3.56M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 618.66K | 2.79M | 0 | 0 | 0 |
| Total Liabilities | 15.99M | 12.5M | 9.07M | 5.33M | 5.02M | 4.12M | 528.83K | 53.64M | 43.7M | 70.5M | 74.3M | 88.46M | 112.23M | 89.08M | 85.21M | 61.75M | 24.3M | 20.04M | 18.91M | 7.5K |
| Total Debt | 12.69M | 4.22M | 1.08M | 0 | 0 | 0 | 0 | 308.09K | 26.06M | 31.71M | 34.62M | 58.38M | 73.23M | 49.78M | 19.81M | 15.47M | 0 | 4.51M | 10.1M | 0 |
| Net Debt | 11.02M | 3.16M | 1.06M | -239.47K | -872.31K | -174.19K | -988.7K | -11.43K | 24.96M | 27.28M | 29.51M | 44.62M | 44.39M | 39.34M | 10.87M | 12.93M | -3.36M | 4.06M | 9.19M | 0 |
| Debt / Equity | 0.07x | 0.18x | 0.06x | - | - | - | - | 0.59x | 2.69x | 3.21x | 1.64x | 1.47x | 1.81x | 0.88x | 0.25x | 0.19x | - | 0.12x | 0.49x | - |
| Debt / EBITDA | -0.85x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.20x | - | 0.28x | 1.68x | - |
| Net Debt / EBITDA | -0.73x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.00x | -0.20x | 0.26x | 1.53x | - |
| Interest Coverage | -0.69x | -1.95x | -297.10x | -6032.74x | -10976.98x | - | -1024.32x | -4507.81x | -2.45x | -6.11x | -5.67x | -2.73x | -5.97x | -9.00x | -6.12x | 12.84x | 583.06x | 16.79x | 13.10x | - |
| Total Equity | 179.63M | 23.32M | 18.53M | 24.72M | 48.44M | 76.95M | 6.59M | 520.8K | 9.7M | 9.88M | 21.13M | 39.7M | 40.4M | 56.69M | 79M | 83.09M | 61.18M | 37.49M | 20.6M | -4.93K |
| Equity Growth % | 2915.37% | 25.89% | -25.05% | -48.98% | -37.05% | 1067.6% | 1165.46% | -94.63% | -1.79% | -53.24% | -46.78% | -1.74% | -28.73% | -28.24% | -4.92% | 35.8% | 63.18% | 82% | 417958.34% | - |
| Book Value per Share | 315.03 | 6057.69 | 88639.92 | 386194.30 | 999999.00 | 999999.00 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Shareholders' Equity | 179.63M | 23.32M | 18.53M | 24.72M | 48.44M | 76.95M | 6.59M | 520.8K | 9.7M | 9.88M | 21.13M | 39.7M | 40.4M | 56.69M | 79M | 83.09M | 61.18M | 37.49M | 20.6M | -4.93K |
| Common Stock | 3.78K | 2.74K | 52 | 647.64K | 192.79K | 110.36K | 25.62K | 7.17K | 5.49K | 2.39K | 2.18K | 2.18K | 1.49K | 1.49K | 17.83K | 17.8K | 17.47K | 10.6K | 10.53K | 0 |
| Retained Earnings | -352.34M | -255.09M | -212.08M | -185.22M | -147.37M | -70.16M | -61.92M | -64.03M | -49.64M | -42.24M | -31.2M | -15.4M | -11.23M | 5.41M | 29.01M | 35.24M | 19.91M | 12.78M | 3.07M | -14.07K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -80 | 0 | 0 | 0 | 0 | -682.38K | -1.2M | 10.31M | 10.98M | 20.67M | 13.96M | 16.72M | 16.4M | 16.04M | 14.82M | 12.85M | 7.53M | 2.77M | 1.43M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
As reported in financial statements, ZNB's accumulated deficit has ballooned to $352.3M by 2026Q2, signaling a persistent inability to generate retained earnings and suggesting that the company's balance sheet trajectory is characterized by long-term value destruction rather than sustainable capital accumulation or operational growth.
The consistent expansion of the deficit indicates that the company's business model has failed to achieve the scale necessary to offset its operating costs. Investors should monitor whether the recent increase in total assets is driven by productive capital or merely accounting adjustments that do not improve the firm's underlying solvency.
According to recent SEC filings, ZNB maintains a cash position of only $1.7M as of 2026Q2, which appears insufficient to support its high-burn operational model and suggests that the company remains highly dependent on external financing to maintain its day-to-day liquidity and avoid a potential default.
While the current ratio shows a temporary improvement, the absolute cash balance remains dangerously low relative to the company's historical operating losses. This liquidity profile implies that any disruption in revenue or access to capital markets could immediately threaten the firm's ability to continue as a going concern.
Based on ZNB's reported figures, the asset base has shifted toward $17.7M in net PPE as of 2026Q2, which warrants further investigation into whether these assets represent tangible productive capacity or are simply capitalized costs that may be subject to future impairment if the entertainment platform fails.
The lack of clarity regarding the nature of these assets makes it difficult to assess their true liquidation value. If these assets are tied to celebrity-led content production, their value is likely highly sensitive to the platform's user engagement, which remains unproven and volatile.
As indicated by the company's financial disclosures, the rapid fluctuation in debt levels and the absence of deferred revenue suggest that ZNB lacks a stable, recurring revenue base, which makes the balance sheet highly susceptible to shocks in discretionary spending and celebrity partnership stability.
The reliance on debt to fund operations, despite the lack of a clear path to profitability, suggests that the company's capital structure is being used to bridge operational gaps rather than to fund strategic growth. This approach appears to increase the risk of dilution for existing shareholders as the company seeks to manage its mounting liabilities.
Quick answers to the most common questions about buying ZNB stock.
As of 2025, Zeta Network Group (ZNB) had total assets of $35.8M including $3.7M in current assets.
Zeta Network Group (ZNB) carries total debt of $4.2M, offset by $1.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Zeta Network Group (ZNB) has total shareholders' equity (book value) of $23.3M ($6057.69 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Zeta Network Group (ZNB) reported a current ratio of 0.30x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.