4/5Alpha Star Acquisition Corp (ALSAF): Going-concern doubt

Market data

Price before filing: $17.5 (2026-03-19 close, split/dividend-adjusted)
Market cap at flag: $396,620 (2026-03-20) · Latest: $338,215 (2026-10-15)

What happened next

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Insider trading around this filing

90 days before the flag: no open-market insider sales or purchases reported.
30 days after: none reported.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-20 to 2026-04-19. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"These conditions raise substantial doubt about the Company's ability to continue as a going concern if a business combination is not consummated. 38 The Company had issued the following promissory notes (collectively, the "Notes"): On September 13, 2022, December 13, 2022, March 13, 2023 and September 20, 2023 the Company issued four promissory notes in the principal amount of up to $1,000,000, $1,300,000,..."

Quoted from the filing. Source

What this means

The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.

Source: management disclosure in Form 10-K (period 2025-12-31)