ZAIM

Adalan Ventures PLC

Financial Services First-pass screen £3.48m

260/1000 Overall fit

AI beneficiary 35% 30

Operating leverage 25% 25

Valuation 25% 30

Downside protection 15% 15

First-pass take

Pre-acquisition SPAC with no operational business or disclosed AI exposure. Technically insolvent (negative £971k equity) with only £1,823 cash and auditor-flagged going concern doubt. Entirely dependent on undefined acquisition and fundraising.

Flags

pre-acquisition-spacgoing-concerntechnically-insolventsuspended-tradingcash-criticalno-revenue