Liquidity is under significant pressure as cash reserves declined from $949.4K in 2024Q4 to $393.5K by 2026Q1, resulting in a current ratio of 1.11.
| Total Current Assets | 525.93K | 633.06K | 1.06M |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | 0 | 0 |
| Total Non-Current Assets | 244.68M | 242.54M | 232.94M |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 965.18M | 242.54M | 232.86M |
| Other Non-Current Assets | - | - | - |
| Total Assets | 245.21M | 243.18M | 234.01M |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 7.7% | 3.92% | - |
| Total Current Liabilities | 473.45K | 412.31K | 357.54K |
| Accounts Payable | 118.43K | 87.29K | 57.63K |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 198.02K | 198.02K | 198.02K |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 0 | 0 | 0 |
| Current Ratio | 1.11x | 1.54x | 2.97x |
| Quick Ratio | 1.11x | 1.54x | 2.97x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 244.68M | 242.54M | 0 |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 473.45K | 412.31K | 357.54K |
| Total Debt | 198.02K | 198.02K | 198.02K |
| Net Debt | -195.44K | -323.75K | -751.34K |
| Debt / Equity | 0.00x | 0.00x | 0.00x |
| Debt / EBITDA | -0.37x | - | 0.52x |
| Net Debt / EBITDA | 0.37x | - | -1.97x |
| Interest Coverage | - | - | - |
| Total Equity | 244.73M | 242.76M | 233.65M |
| Equity Growth % | 7.66% | 3.9% | - |
| Book Value per Share | 10.64 | 10.55 | 7.90 |
| Total Shareholders' Equity | 244.73M | 242.76M | 233.65M |
| Common Stock | 244.68M | 242.54M | 232.86M |
| Retained Earnings | 51.82K | 220.09K | 381.08K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Liquidation and deal failure
As reported in quarterly financial statements, JACS has seen its cash balance decline from $949.4K in 2024Q4 to $393.5K by 2026Q1, reflecting a consistent erosion of capital as the entity continues its search for a viable business combination target without generating any operational revenue to offset costs.
The steady decline in cash reserves suggests that the company is consuming its limited capital base to fund administrative overhead and professional fees. This trajectory indicates that the balance sheet is weakening, which may force the sponsor to provide additional capital or risk a premature liquidation if a deal is not secured.
Based on the provided balance sheet data, the current ratio has deteriorated significantly from 2.97 in 2024Q4 to 1.11 in 2026Q1, indicating that the company's ability to cover its short-term liabilities is becoming increasingly constrained as cash reserves are depleted by ongoing operational expenses.
The rapid compression of the current ratio highlights the precarious nature of the company's liquidity position. Investors should monitor whether the current cash runway is sufficient to sustain the search process, as the narrowing buffer suggests limited flexibility to handle unexpected legal or regulatory costs.
According to the company's financial filings, total equity has trended downward from $233.6M in 2024Q4 to $244.7M in 2026Q1, though this figure is heavily influenced by the trust account structure rather than retained earnings, which remain minimal and insufficient to support long-term operational sustainability.
The equity base appears largely static, masking the underlying consumption of cash that characterizes the shell's current phase. The lack of meaningful retained earnings suggests that the company has not yet created any intrinsic value, leaving the equity position entirely dependent on the trust account's preservation.
As indicated by the financial data, the company's reported equity and asset figures may be misleading, as they do not fully account for the potential impact of common stock subject to possible redemption, which could significantly reduce the net asset value upon a business combination event.
The headline asset figures may overstate the actual capital available for a merger, as a high redemption rate would effectively drain the trust account. This structural risk warrants further investigation, as the balance sheet does not explicitly reflect the potential for a massive outflow of capital during the de-SPAC process.
Quick answers to the most common questions about buying JACS stock.
As of 2025, Jackson Acquisition Company II (JACS) had total assets of $243.2M including $0.6M in current assets.
Jackson Acquisition Company II (JACS) carries total debt of $0.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jackson Acquisition Company II (JACS) has total shareholders' equity (book value) of $242.8M ($10.55 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jackson Acquisition Company II (JACS) reported a current ratio of 1.54x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.