AI Financial Corp., a World Liberty Financial token treasury company, reported a net loss of $271.5 million in its first-quarter results, compared to a $2.4 million loss a year ago. As of March 28, the firm had a working capital deficit of about $5.5 million, with $39.1 million in liabilities against $32.2 million in assets.
“These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued,” AI Financial said.
AI Financial holds 7.3 billion WLFI tokens, valued at $703.4 million as of March 28. The value of those holdings has fallen by a third since late December, when the fair value was over $1 billion, leading to an unrealized loss of $348.3 million. The company paid nearly $1.46 billion to acquire the tokens.
World Liberty CEO Zach Witkoff serves as AI Financial’s chairman. The company also borrowed nearly $15 million from World Liberty in January.
Shares of AI Financial (AIFC) ended trading down nearly 6.3% on Tuesday at 85 cents. The stock has fallen about 87.5% over the past 12 months.
