UCFI experienced severe financial deterioration with cash collapsing 99.9% to just $454 and current assets declining 93.7%, while liabilities surged over 50%.
The company appears to be in severe financial distress with virtually no cash remaining and a massive deterioration in liquidity position. Despite reporting positive net income of $1.4M, the operating cash flow deficit of $1.0M and the collapse in current assets suggest serious going concern issues that could threaten the company's ability to continue operations.
UCFI's financial position deteriorated dramatically with cash and equivalents falling from $657K to just $454 (a 99.9% decline) while current liabilities tripled to $2.6M, creating a severe liquidity crisis. Although the company reported a swing to positive net income of $1.4M, operating losses deepened to -$1.7M and operating cash flow worsened to -$1.0M, indicating the earnings improvement may be driven by non-operating items rather than core business performance. The combination of near-zero cash, massive current liability growth, and negative stockholders' equity expanding to -$4.1M signals potential going concern issues and immediate financial distress.
Operating cash flow fell 1117.5% — earnings quality concerns; investigate working capital changes and non-cash items.
Net income grew 545.5% — bottom-line growth signals improving overall business health.
Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.
Current liabilities surged 200.8% — significant near-term obligations; verify ability to meet short-term debt.
Cash declined 99.9% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.
Current assets declined 93.7% — monitor working capital adequacy and short-term liquidity.
Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.
Liabilities grew 51.2% — significant increase in debt or obligations, assess impact on financial flexibility.
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