Piermont Valley Swings to $897,045 Net Loss in Q1 2026 as Equity Deficit Widens

Piermont Valley Acquisition Corp, a blank check company seeking a business combination, reported a net loss of $897,045 for the three months ending June 30, 2025, a sharp reversal from net income of $446,618 in the same quarter of the prior year. Read more earnings reports.

The company reported no revenue for the quarter. Operating expenses declined to $33,940 for the quarter, down from $171,334 in the prior-year period.

The company's balance sheet showed mounting pressure. Total stockholders' equity stood at negative $2.96 million as of June 30, 2025, compared to a deficit of $2.04 million at March 31, 2025. Retained deficit widened to $2.96 million from $2.04 million over the same period.

Cash and cash equivalents depleted to zero as of June 30, 2025, down from $1,611 at the end of the prior quarter. Total assets edged up slightly to $2.41 million from $2.39 million, while total liabilities increased to $2.96 million from $2.04 million.

Operating activities consumed $25,608 in cash during the quarter, compared to $110,511 in the prior-year period. Financing activities brought in $23,997 in cash. The company reported no investing activity for the quarter.

Diluted loss per share stood at $0.15 on 204,986 weighted average shares outstanding, compared to diluted earnings of $0.01 per share on 1.21 million shares in the prior-year quarter.

Current liabilities totaled $2.03 million as of June 30, while current assets stood at just $1,865, leaving the company with minimal working capital.

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