Revenue Collapsed To Zero In FY2025A drop to zero reported revenue signals a major operational disruption or halt in commercial sales, removing the company’s primary cash engine. This loss of revenue undermines medium-term viability, hampers forecasting, and heightens dependency on non-operational funding sources.
Persistent Negative Operating And Free Cash FlowSustained negative operating and free cash flow indicate ongoing cash burn from operations and investment. Over months this exhausts liquidity or forces dilutive or debt financing, constraining the firm's ability to fund projects, maintain assets, or absorb commodity-price volatility.
Severely Weakened Balance Sheet And High LeverageVery high leverage with eroded equity materially reduces financial flexibility, increases solvency and refinancing risk, and limits capacity to invest or withstand commodity cycles. This structural balance-sheet strain elevates long-term default and restructuring risk.