Persistent Unprofitability And No RevenueThe business remains chronically unprofitable and reported no revenue in 2025, a structural weakness that erodes capital over time. Without recurring revenue, the company faces prolonged dependence on balance sheet resources or external financing, limiting strategic options over months.
Ongoing Cash BurnNegative operating and free cash flow in all reported years indicates sustained cash consumption. Even with some improvement, continued burn will deplete equity and force financing actions (dilution, asset sales, or credit), a persistent structural constraint on growth and execution over the medium term.
Negative Returns On EquityThe company is not generating positive returns on its equity base, meaning invested capital is currently destroying value. Persistently negative ROE signals operational inefficiency and raises the risk that ongoing losses will erode the equity buffer, threatening solvency if trends persist.