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ASPC

ASPAC III Acquisition Corp.

ASPC

ASPAC III Acquisition Corp. • NASDAQ
$10.60 ▲ 0.00% (+0.00)
Market Cap $85.38 M
52w High $12.00
52w Low $9.95
Dividend Yield 0%
P/E -31.18
Volume 4
Outstanding Shares 8.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $173.955K ▼ $480.352K ▲ 0% $-0.11 ▼ $0 ▲
Q2-2025 $0 $267.036K ▲ $379.939K ▼ 0% $0.047 ▼ $-267.036K ▼
Q1-2025 $0 $233.878K ▼ $413.202K ▲ 0% $0.051 ▲ $-234K ▲
Q4-2024 $0 $540.328K ▲ $-180K ▼ 0% $0 ▲ $-540K ▼
Q3-2024 $0 $38.778K $-38.778K 0% $-0.03 $-38.778K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.063M ▼ $63.361M ▲ $529.565K ▲ $975.004K ▼
Q2-2025 $1.069M ▼ $62.776M ▲ $425.036K ▲ $1.898M ▼
Q1-2025 $1.12M ▼ $62.25M ▲ $278.705K ▼ $61.971M ▲
Q4-2024 $1.599M ▲ $62.075M ▲ $517.334K ▲ $61.558M ▲
Q3-2024 $0 $82.25K $269.604K $-187.354K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $480.352K ▲ $-5.877K ▲ $0 $0 $-5.877K ▲ $-5.877K ▲
Q2-2025 $379.939K ▼ $-51.101K ▲ $0 $0 ▲ $-51.101K ▲ $-51.101K ▲
Q1-2025 $413.202K ▲ $-203.059K ▲ $0 $-276.221K ▼ $-479.28K ▼ $-203.059K ▲
Q4-2024 $-179.605K ▼ $-354.934K ▼ $0 $61.954M ▲ $1.599M ▲ $-354.934K ▼
Q3-2024 $-38.778K $-118.953K $0 $0 $0 $-118.953K

Five-Year Company Overview

Income Statement

Income Statement ASPC is a typical SPAC: it has no operating business and essentially no recurring revenue of its own. The historical income statement mainly reflects small corporate and listing-related costs rather than any underlying commercial activity. That means past results tell you almost nothing about future earnings; the real financial story will begin only if and when the merger with Bioserica closes and that business starts reporting sales and profits under the ASPC umbrella.

Balance Sheet

Balance Sheet The reported balance sheet data are effectively blank, which is common for a SPAC at this stage and mostly indicates that detailed post-IPO figures are not yet reflected here. In practice, a SPAC’s balance sheet is usually dominated by cash held in trust and very limited operating assets, with modest liabilities and little traditional debt. The strength of ASPC’s balance sheet will ultimately depend on how much cash it retains after shareholder redemptions and closing costs for the Bioserica deal, and on the quality of the assets it acquires through that merger.

Cash Flow

Cash Flow There is no meaningful cash flow history to analyze, which again is normal for a SPAC that has not yet completed a business combination. Cash movements so far are likely tied to set-up costs, listing expenses, and sponsor funding rather than ongoing operations. The key cash flow question going forward is how much usable cash the combined company will have for growth, R&D, and scaling production once the Bioserica transaction is completed and any redemptions are settled.

Competitive Edge

Competitive Edge On its own, ASPC has no products, customers, or operating market position; it is purely a financial shell. The competitive position to focus on is that of Bioserica, which targets the niche of bio-based antimicrobial materials. This niche sits at the intersection of sustainability and advanced materials, an area where demand is rising as industries seek greener solutions. Bioserica’s potential edge appears to come from proprietary formulations, the ability to scale production cost-effectively, and successfully navigating regulatory approvals—though it will still face competition from established chemical players and other emerging bio-material companies.

Innovation and R&D

Innovation and R&D ASPC itself does not conduct research or develop technology. All innovation-related considerations center on Bioserica. The target company is positioned as an R&D-driven business focused on sustainable antimicrobial solutions, with value likely tied to its intellectual property, new product pipeline, and ability to translate lab results into commercial products. Continued investment in research, regulatory work, and application development will be essential to maintain any technological lead, but this also means higher ongoing costs and execution risk while the product portfolio and customer base mature.

Summary

ASPC is a newly listed SPAC with no operating track record, revenues, or traditional financial history to assess; its current numbers mainly reflect its status as a cash shell. The real risk and opportunity profile is tied to its planned merger with Bioserica, an early-stage player in bio-based antimicrobial materials aligned with sustainability trends. If the merger closes, the combined entity’s prospects will depend on Bioserica’s ability to prove the effectiveness and cost-competitiveness of its technology, secure regulatory approvals, scale production, and win commercial contracts, all while managing the typical challenges and uncertainties of a young, innovation-led business entering public markets via a SPAC structure.