Viewbix Inc. Liquidation Value

QXL Software

Cash & Equivalents

$1.02M
As of 2025-12-31
Current Price: N/A

Key Metrics

Cash Liquidation Value

Cash minus Total Obligations
Cash: $1.02M
Total Obligations: -$4.65M
$-3.63M
Per share: $-0.34
Period: 2025-12-31
incomplete 2 components missing — treated as $0 in formula. Why?
  • Operating Lease Liability: not reported in this period (annual-only)
  • Finance Lease Liability: not reported

Liquid Liquidation Value

Cash + AR minus Total Obligations
Cash: $1.02M
AR: $315,000
Total Obligations: -$4.65M
$-3.32M
Per share: $-0.31
Period: 2025-12-31
incomplete 2 components missing — treated as $0 in formula. Why?
  • Operating Lease Liability: not reported in this period (annual-only)
  • Finance Lease Liability: not reported

Operating Liquidation Value

Cash + AR + Inventory minus Total Obligations
Cash: $1.02M
AR: $315,000
Inventory: N/A
Total Obligations: -$4.65M
$-3.32M
Per share: $-0.31
Period: 2025-12-31
incomplete 3 components missing — treated as $0 in formula. Why?
  • Operating Lease Liability: not reported in this period (annual-only)
  • Finance Lease Liability: not reported
  • Inventory: not reported

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Liquidation Ladder

MetricTotalPer Share
Cash Liquidation Value$-3.63M$-0.34
Liquid Liquidation Value$-3.32M$-0.31
Operating Liquidation Value$-3.32M$-0.31

Key Components (as of 2025-12-31)

Data as of 2025-12-31 from 10-K filed 2026-03-27. View on SEC EDGAR →

Cash & Equivalents$1.02M
Accounts Receivable$315,000
InventoryN/A
Current Liabilities$4.06M
Long-term Debt$586,000
Op. Lease LiabilityN/A
Finance LeaseN/A
Shares Outstanding10.7M

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Historical

PeriodCashARInventoryAPCurr LiabLT DebtOp LeaseFin Lease
2025-12-31$1.02M$315,000N/A$1.20M$4.06M$586,000N/AN/A
2025-09-30$2.17M$1.33MN/A$4.74M$8.55M$781,000N/AN/A
2025-06-30$1.99M$1.05MN/A$5.53M$12.66MN/AN/AN/A
2025-03-31$181,000$1.04MN/A$4.96M$15.36MN/AN/AN/A
2024-12-31$24,000$557,000N/A$2.44M$12.93M$496,000N/AN/A
2024-09-30$1.41M$6.09MN/A$9.97M$16.93M$1.08MN/AN/A
2024-06-30$609,000$6.07MN/A$8.80M$15.50M$1.67MN/AN/A
2024-03-31$1.28M$7.00MN/A$8.41M$15.90M$2.44M$281,000N/A

Comments

SEC Filings

PeriodFormFiledLink
2025-12-31 10-K 2026-03-27 View
2025-09-30 10-Q 2025-11-14 View
2025-06-30 10-Q 2025-08-19 View
2025-03-31 10-Q 2025-05-14 View
2024-12-31 10-K 2025-03-21 View
2024-09-30 10-Q 2024-11-19 View
2024-06-30 10-Q 2024-08-14 View
2024-03-31 10-Q 2024-05-20 View

AI Insights

AI Insight·Generated 2026-05-05

Viewbix Inc. (VBIX) presents a severely negative liquidation recovery posture at December 31, 2025. MFFAIS reports a cash liquidation value of negative $3.6M, liquid liquidation value of negative $3.3M, and operating liquidation value of negative $3.3M. These figures are consistent with the balance sheet structure: total assets of $10.8M are dominated by intangibles ($2.0M net finite-lived) and goodwill ($6.4M), both of which receive zero recovery under the liquidation lens, with only $1.0M cash and $0.3M net AR constituting meaningful hard-asset recovery. After applying standard haircuts (cash 100% = $1.0M, AR at 90% = $0.28M, PP&E at 60% = $0.03M, intangibles and goodwill = $0), gross recoverable asset value is approximately $1.3M against total liabilities of $5.8M ($4.1M current + $1.7M non-current), yielding an equity recovery deficit of roughly negative $4.5M before wind-down costs. Accumulated deficit stands at negative $46.0M.

Period-over-period, the balance sheet deteriorated materially. The prior 10-Q (Q3 2025) showed $12.8M total assets including $6.5M intangibles and $6.2M goodwill, versus the year-end position showing $2.0M intangibles and $6.4M goodwill — the Cortex disposal on November 9, 2025 removed the content platform intangibles from the consolidation perimeter. Accounts payable contracted from $5.9M (Dec-2024) to $1.2M (Dec-2025), reflecting creditor settlements and deconsolidation. However, total GAAP net loss widened from $14.1M (2024) to $20.8M (2025), with the continuing-operations component contributing $13.4M and the discontinued Cortex segment contributing an additional $5.9M net loss before NCI adjustments.

Key structural risks under the liquidation lens: (1) Goodwill of $6.4M — entirely from acquisition accounting — is zero-recovery and represents 59% of total assets. (2) Finite intangibles of $2.0M (technology and customer relations from the Metagramm acquisition closed March 2025) are likewise zero-recovery. (3) Long-term debt of $2.5M and current debt of $0.9M convertible notes remain at face value in liquidation; the June 2024 Financing Agreement with L.I.A. Pure Capital Ltd. carries substantial attached warrant exposure and the filing discusses debt modification losses of $2.6M in financial expense for 2024. (4) An earn-out liability for the Metagramm acquisition is referenced in the prior Q3 filing at $1.0M non-current; this does not appear as a separately tagged balance-sheet item in the current XBRL. (5) Post-period, on March 4, 2026, the company closed the Quantum X Labs acquisition (100% stock consideration: 1.87M shares plus 4.45M pre-funded warrants) and the 2026 PIPE ($1.4M gross proceeds, 800K shares). Neither transaction improves the Dec-31-2025 balance sheet recovery posture but the Quantum deal adds intangible-heavy assets that will further suppress liquidation value when consolidated. Filing does not separately XBRL-tag the earn-out liability or the Metagramm contingent consideration in the current period tag set.

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