Accustem Sciences Inc. Liquidation Value

Accustem Sciences Inc. (ACUT) presents a deeply negative liquidation recovery posture as of December 31, 2025. Total assets of $1.55M are overwhelmingly non-liquid: cash of $14K (100% recovery), prepaid of $36K (haircut to ~$27K), and a $1.5M intangible/other asset that receives zero recovery under the liquidation lens. PP&E gross of $11K, fully depreciated to nil net book value, contributes negligibly. Applying standard haircuts, total liquidation asset value is approximately $40K-$50K against total liabilities of $4.95M, all classified as current, yielding an estimated equity recovery of negative $4.9M. This is consistent with MFFAIS's reported CLV/LLV/OLV of negative $4.92M. The liability stack is dominated by OtherLiabilitiesCurrent of $4.22M, which aggregates the Tiziana-related funding support payable ($3.35M at year-end, up from $2.11M at December 31, 2024), expense reimbursements owed to Tiziana ($198K), shared services payable ($95K), and accrued unpaid fees to directors and consultants (Brancaccio $163K, Macdonald $158K, Simon $159K, Cerrone $49K, Shah $41K). AccountsPayableCurrent stands at $704K. The company has no revenue, carries a $9.78M accumulated deficit, and is entirely dependent on Tiziana-sourced funding support, which increased $1.24M year-over-year and constitutes the primary financing mechanism. The $1.5M asset tagged under OtherAssets is described as a non-cash stock-for-services issuance (StockIssued1 = $1.5M, StockIssuedDuringPeriodValueNewIssues = $1.58M) and receives zero recovery as an intangible. The filing discloses a full valuation allowance of $2.09M against deferred tax assets and federal NOLs of $7.87M, both irrelevant to liquidation recovery. Management has disclosed a persistent material weakness in internal controls. Compared to the prior 10-Q (September 30, 2025), the Tiziana funding support balance grew from $3.07M to $3.35M over the final quarter, and total OtherLiabilitiesCurrent grew correspondingly. Net loss for the full year was $1.76M versus $1.51M for 2024, reflecting a 17% acceleration in cash burn.