Quarterly ResultJun 12, 2026, 04:37 PM
Vernal Capital Acquisition Corp. Reports Q1 Loss of $25,515; Cash Declines
AI Summary
Vernal Capital Acquisition Corp. (VECA) filed its 10-Q report for the period ending April 30, 2026. The company reported a net loss of $25,515 for the quarter. Total assets decreased to $309,060, while shareholders' deficit widened to $73,440. Cash reserves significantly declined to $16,299. The company faces substantial doubt about its ability to continue as a going concern, with a deadline of August 7, 2027, to complete a business combination or face liquidation.
Key Highlights
- Vernal Capital Acquisition Corp. reported a net loss of $25,515 for the three months ended April 30, 2026.
- Total assets decreased to $309,060 as of April 30, 2026, from $335,695 as of January 31, 2026.
- Total liabilities remained stable at $382,500 as of April 30, 2026, compared to $383,620 as of January 31, 2026.
- Shareholders' deficit increased to $73,440 as of April 30, 2026, from $47,925 as of January 31, 2026.
- Cash decreased significantly to $16,299 as of April 30, 2026, from $61,587 as of January 31, 2026.
- The company has a working capital deficit of $366,201 as of April 30, 2026.
- The company has until August 7, 2027, to complete its initial business combination, after which it will be required to liquidate if unsuccessful.
Price Impact
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