Aureus Greenway

As of March 31, 2026, the company reported 17.52 million dollars cash, 43.11 million dollars total assets, and only 1.54 million dollars total liabilities, which is conservative for a micro‑cap.

However, 20.05 million dollars of the asset base is a single 10 percent convertible note receivable from Powerus that is not holder‑convertible unless an event of default occurs, so liquidity and credit concentration risks are material.

Q1 operating cash flow was positive due to non‑cash stock‑based compensation, while investing cash flow reflected the 20.0 million dollar note purchase. We view near‑term solvency positively but quality of cash flows and asset concentration temper the score.