Investment Thesis
BION is in critical financial distress with zero revenue, massive operating losses, and negative stockholders equity of -$6.3M indicating technical insolvency. The company is burning cash at an unsustainable rate with -$1.3M free cash flow while holding only $6.3K in cash, creating an immediate liquidity crisis. There are no identifiable fundamental strengths to support continued operations.
Strengths
- Long-term debt relatively modest at $29.1K
- Agricultural chemicals sector has industry demand
- Company still filing with SEC indicating minimal operational status
Risks
- Zero revenue with no apparent business operations or customer base
- Negative stockholders equity indicates balance sheet insolvency
- Critical liquidity crisis with current ratio of 0.01x and only $6.3K cash against $6.3M liabilities
- Massive cash burn rate of -$1.3M free cash flow with no revenue to support operations
- Deteriorating financial position with operating losses of -$759K and net losses of -$936.5K
- No insider activity in past 90 days suggesting potential abandonment or lack of confidence
- Negative ROA of -2703.3% demonstrates severe asset inefficiency
Key Metrics to Watch
- Revenue generation or restart of business operations
- Monthly cash burn rate and runway to insolvency
- Changes to stockholders equity and debt restructuring announcements
- Insider buying/selling activity as indicator of management confidence
- SEC filing status and disclosure of going concern warnings
Financial Metrics
Revenue
0.0
Net Income
-936.5K
EPS (Diluted)
$-0.02
Free Cash Flow
-1.3M
Total Assets
34.6K
Cash
6.3K
Profitability Ratios
Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
ROE
N/A
ROA
-2,703.3%
FCF Margin
N/A
Balance Sheet & Liquidity
Current Ratio
0.01x
Quick Ratio
0.01x
Debt/Equity
N/A
Debt/Assets
18,112.1%
Interest Coverage
-4.28x
Long-term Debt
29.1K
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-03-21T08:16:10.519647 |
Data as of: 2025-12-31 |
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