Cleartronic, Inc. Liquidation Value

Cleartronic, Inc. (CLRI) presents a negative recovery posture under a liquidation lens as of March 31, 2026. GAAP stockholders' deficit stands at ($98,073), a material improvement from ($356,650) at September 30, 2025 (audited) and ($161,844) at December 31, 2025. The improvement is driven by six-month net income of $258,577, reversing the prior-year six-month net loss of ($77,217).

Asset-side recovery is thin. Cash and equivalents (including T-bills with maturities under 90 days classified as cash) totaled $1,059,508 at period end, down from $1,124,052 at September 30, 2025, reflecting net cash outflows of ($64,544) over the six months despite operating profitability; the gap is explained by a ($348,172) reduction in deferred revenue — i.e., the company collected less new prepaid subscription cash than it recognized against the prior liability. Accounts receivable (gross) is not separately XBRL-tagged in TAG_CONTEXT but the filing discloses an allowance for doubtful accounts of $109,691 at March 31, 2026 versus $150,308 at September 30, 2025, implying a $20,952 recovery of credit losses during the period. Inventory is $77,419 (down from $103,524); at a 60% recovery haircut, that yields approximately $46,500. PP&E net book value is $40,847, recoverable at perhaps 50-70%, or roughly $20,000-$29,000. The only intangible is a customer list (Alastar acquisition, $50,000 cost, net $33,333 remaining), which receives a 0% recovery haircut under the liquidation lens.

Liability side is dominated by deferred revenue of $1,443,139 at March 31, 2026, down from $1,791,311 at September 30, 2025. Under the liquidation lens, deferred revenue is a cash obligation to deliver services or refund; it stays at face value and is the largest single liability. No long-term debt, no pension, no operating lease liability (the prior ASC 842 lease expired November 30, 2024; the company is now month-to-month and carries no ROU asset or lease liability). Cumulative undeclared Series A preferred dividends stand at $308,829, which represent a contingent claim on liquidation proceeds senior to common equity, though not classified as a liability.

MFFAIS latest metrics confirm negative recovery: CLV ($475,749), LLV ($326,537), and OLV ($225,165) are all negative. The improvement in GAAP deficit from ($356,650) to ($98,073) over two quarters is directionally positive but does not alter the fundamental liquidation conclusion: after applying haircuts to assets and settling deferred revenue and other liabilities at face value, equity recovery is negative. The filing does not separately XBRL-tag a balance sheet, accounts receivable net, or total liabilities line in TAG_CONTEXT, so those cannot be sourced from XBRL directly.