No Revenue ReportedThe company reports zero revenue across all provided annual periods, implying it is pre‑commercial or unable to monetize operations. Without a sustained revenue stream the business remains dependent on external funding, limiting durable growth prospects and operational scalability over the medium term.
Widening Losses And Accelerating Cash BurnNet losses widened materially and free cash flow became substantially more negative in 2025, indicating accelerating cash consumption. This erodes runway, forces recurring capital raises, increases dilution risk, and constrains investment in operations or commercialization efforts over the next several months.
Negative Equity And Rising DebtEquity turned deeply negative and debt rose sharply against a small asset base, creating acute leverage and solvency risk. This heightens refinancing and covenant risks, elevates creditor priority over shareholders, limits borrowing capacity, and raises the likelihood of dilutive financings or restructuring.