TAVIUHIGH SIGNALRISK10-K

TAVIU secured a $300,000 non-interest bearing promissory note from EBC while experiencing a dramatic deterioration in its cash position and substantial increase in liabilities.

The company's cash position declined precipitously from $914K to $230K while total liabilities grew substantially to $1.4M, indicating potential liquidity stress that necessitated emergency financing. The promissory note structure suggests urgency, as repayment is contingent on either completing a business combination or potentially going unpaid if the SPAC liquidates without sufficient funds outside the trust account.

Comparing 2026-03-16 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

TAVIU's balance sheet shows clear signs of financial strain, with cash and equivalents falling dramatically from $914K to $230K and current assets declining significantly to $361K. Total liabilities grew substantially to $1.4M, creating a compressed liquidity profile. The combination of depleted cash reserves and meaningfully higher liabilities signals the company is burning through available capital while approaching critical decision points regarding its business combination timeline.

FINANCIAL STATEMENT CHANGES
Total Liabilities
Balance Sheet
+79.3%
$789K→$1.4M

Liabilities grew 79.3% — significant increase in debt or obligations, assess impact on financial flexibility.

Cash & Equivalents
Balance Sheet
-74.9%
$914K→$230K

Cash declined 74.9% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Current Assets
Balance Sheet
-62.3%
$958K→$361K

Current assets declined 62.3% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2026-03-16
PRIOR — 2025-03-31
ADDED
As of March 16, 2026, there were 11,500,000 ordinary shares, $0.0001 par value, issued and outstanding.
Recent Developments On February 2, 2026, we issued a promissory note (the EBC Promissory Note ) to EBC.
Pursuant to the EBC Promissory Note, EBC agreed to loan us up to an aggregate principal amount of $300,000.
The EBC Promissory Note is non-interest bearing and all outstanding amounts under the Promissory Note will be due on the earlier of the consummation of a business combination, or the liquidation of the trust account established in connection with our IPO, if a business combination is not consummated.
If we do not consummate a business combination, we may use a portion of any funds held outside the trust account into which we have placed the proceeds of the IPO to repay the Promissory Note; however, no proceeds from the trust account may be used for such repayment.
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REMOVED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
As of March 30, 2025, there were 15,920,833 ordinary shares, $0.0001 par value, issued and outstanding.
Recent Developments On January 20, 2025, the audit committee of the board of directors of the Company (the Audit Committee ) dismissed Marcum LLP ( Marcum ) as the Company s independent registered public accounting firm, effective as of January 20, 2025.
The change in independent registered public accounting firm is not the result of any disagreement with Marcum.
The Audit Committee further approved the engagement of WithumSmith+Brown PC ( Withum ) as the Company s independent registered public accounting firm for the fiscal year ended December 31, 2024, and Withum was formally engaged on the same date.
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