{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-26-058985","form_type":"8-K","ticker":"APAD","cik":"0001956439","company_name":"Enhanced Group Inc.","filed_at":"2026-08-26T11:37:01+00:00","discovered_at":"2026-08-26T11:40:00.551567+00:00","generated_at":"2026-08-26T11:40:10.873729+00:00","sec_items":["8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Enhanced Ltd posts FY2025 net loss $26.7M; goes public via SPAC reverse recap, flags going concern","bullets":["Net loss of $26.66M for FY2025 vs $4.70M loss in 2024; accumulated deficit $32.04M.","No revenue; operating expenses $26.89M including $21.7M G&A and $3.74M athlete costs.","Cash $25.25M at 12/31/25; operating cash burn $24.36M during 2025.","Auditor BDO flags substantial doubt about ability to continue as a going concern.","Closed SPAC merger with A Paradise on 5/7/26; recast as reverse recapitalization at exchange ratio 7.6021."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-058985","json":"https://secwatch.observer/filing/0001628280-26-058985.json","markdown":"https://secwatch.observer/filing/0001628280-26-058985.md","text":"https://secwatch.observer/filing/0001628280-26-058985.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1956439/000162828026058985/0001628280-26-058985-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1956439/000162828026058985/apadu-20260825.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-08-26T11:40:10.873729+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}