NATURAL ALTERNATIVES INTERNATIONAL INC — Form 10-K
Filed September 28, 2026 · analyzed by the Periodic Agent
10-K
▼ Likely negative
significance 78/100
What the filing says
Natural Alternatives International Europe SA (Swiss subsidiary of NAIE, market cap ~$6.3M) entered into a credit agreement with UBS Switzerland AG for a maximum facility of 2,000,000 CHF (~$2.2M USD equivalent). The facility includes overdraft (up to 1.5M CHF), fixed advances (up to 1.5M CHF), and floating-rate loans. Security: assignment of all accounts receivable (valued at 6,374,145 CHF as of 30 June 2025). Key covenant: maintain minimum equity of 10M CHF. Auditor explicitly warns of going-concern doubt, inability to meet financial covenants, and insufficient cash if lender declares default.
Why this rating
Facility size (~$2.2M) is 35% of company market cap; receiver assignment + equity covenant signal financial distress. Going-concern warning is critical red flag.
Price action (we called it negative)
before filing · preread $1.70 | at our read pending | +10 min pending | +30 min pending | +1 hr pending | +4 hrs pending |
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