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Lake Superior Acquisition Co Financials

LKSP
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Lake Superior Acquisition Co (LKSP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LKSP FY2025

FY2025 was driven by capital raising and redeployment, with balance-sheet mechanics far more important than any operating business.

Reported profit and cash generation pointed in opposite directions: net income was $666K even though operating cash flow was -$444K, so the bottom line did not translate into cash. That weak cash conversion lines up with the income statement, where a -$360K operating loss sat alongside $115.8M of financing inflow, implying the year’s cash movements were driven more by capital structuring than by an operating engine.

Short-term liquidity looks comfortable because cash was $486K while current liabilities were only $128K, so immediate obligations were modest. Current assets of $560K reinforced that narrow liquidity cushion, but it is still a cushion for bills rather than an internally generated cash stream.

The full balance sheet is weaker than the current ratio suggests: assets of $116.6M sat below liabilities of $120.8M, leaving negative equity. That means the asset base appears largely committed to existing claims before any residual value reaches common equity.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 14 / 100
Financial Profile 14/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Lake Superior Acquisition Co's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Liquidity
87

With a current ratio of 4.37, Lake Superior Acquisition Co holds $4.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 87/100.

Earnings Quality Low Quality
-0.67x

For every $1 of reported earnings, Lake Superior Acquisition Co generates $-0.67 in operating cash flow (-$444K OCF vs $666K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
$666K

Lake Superior Acquisition Co reported $666K in net income in fiscal year 2025.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$486K

Lake Superior Acquisition Co held $486K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
N/A

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

LKSP Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $386K N/A $25K N/A $48K N/A $16K N/A
Operating Income -$386K N/A N/A N/A -$48K N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $0 N/A N/A N/A $0 N/A N/A N/A
Net Income $636K N/A -$25K+59.2% -$62K-27.5% -$48K N/A -$16K $0
EPS (Diluted) $0.04 N/A N/A N/A $0.00 N/A N/A N/A

LKSP Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $117.3M+0.6% $116.6M+66842.1% $174K N/A N/A $213K N/A N/A
Current Assets $270K-51.9% $560K N/A N/A N/A $129K N/A N/A
Cash & Equivalents $184K-62.1% $486K+875.8% $50K N/A $49K-62.1% $129K-19.1% $160K N/A
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $121.9M+0.9% $120.8M+34724.4% $347K N/A N/A $251K N/A N/A
Current Liabilities $224K+74.5% $128K-63.0% $347K N/A N/A $251K N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity -$4.6M-9.3% -$4.2M-2315.0% -$173K-17.0% -$147K-71.6% -$86K-128.1% -$38K-535.3% $9K N/A
Retained Earnings -$4.6M-9.3% -$4.2M-2009.4% -$198K N/A N/A -$63K N/A N/A

LKSP Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$302K+11.2% -$340K N/A N/A -$33K N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow $0-100.0% $115.8M N/A N/A -$48K N/A N/A N/A
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

LKSP Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A -188.7% N/A
Return on Assets 0.5% N/A -14.4% N/A N/A N/A N/A N/A
Current Ratio 1.20-3.2 4.37 N/A N/A N/A 0.52 N/A N/A
Debt-to-Equity -26.76+2.2 -28.97-27.0 -2.01 N/A N/A -6.66 N/A N/A
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$4.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Frequently Asked Questions

Yes, Lake Superior Acquisition Co (LKSP) reported a net income of $666K in fiscal year 2025.

Lake Superior Acquisition Co (LKSP) generated -$444K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Lake Superior Acquisition Co (LKSP) had $116.6M in total assets as of fiscal year 2025, including both current and long-term assets.

Lake Superior Acquisition Co (LKSP) had a current ratio of 4.37 as of fiscal year 2025, which is generally considered healthy.

Lake Superior Acquisition Co (LKSP) had a debt-to-equity ratio of -28.97 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Lake Superior Acquisition Co (LKSP) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Lake Superior Acquisition Co (LKSP) had $486K in cash against an annual operating cash burn of $444K. This gives an estimated cash runway of approximately 13 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Lake Superior Acquisition Co (LKSP) has negative shareholder equity of -$4.2M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

Lake Superior Acquisition Co (LKSP) has an earnings quality ratio of -0.67x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Lake Superior Acquisition Co (LKSP) scores 14 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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