Negative Equity / Heavy LeverageNegative shareholders' equity and extremely high leverage signal impaired capital structure and elevated insolvency risk. This constrains access to debt or equity financing, increases refinancing risk, and limits strategic options for investment or restructuring over the coming months.
Consistently Negative Operating Cash FlowPersistent negative operating cash flow indicates the core business does not generate sufficient internal funds to sustain operations. Continued OCF deficits force reliance on external financing or asset sales, undermining long-term viability and operational planning.
Ongoing Losses And Volatile RevenueRecurrent net losses and volatile or sharply declining revenue impair scale economics and prevent margin recovery. Without sustained top-line growth, fixed costs remain burdensome, making a durable return to profitability unlikely in the near-to-medium term.