No Reported RevenueThe company reports zero revenue across the provided periods, meaning there is no demonstrated product-market revenue stream. Absence of revenue prevents margin formation and forces full reliance on financing, a fundamental constraint on long-term viability.
Negative Equity And Collapsing Asset BaseShareholders' equity turned negative and total assets contracted sharply year over year, signaling a shrinking capital base. Negative equity raises solvency concerns, weakens creditor confidence, and limits the company's ability to raise non-dilutive funding over months.
Persistent Losses And Negative Operating Cash FlowOperating cash flow has been negative each year and net losses persist, indicating ongoing cash burn. Even with recent improvements, inability to self-fund operations forces continued reliance on external capital, increasing dilution and execution risk over the medium term.