Negative Shareholders' EquityNegative equity means liabilities exceed assets, signaling capital erosion and elevated solvency risk. Over the medium term this constrains access to credit, limits flexibility for investment or bidding on large contracts, and raises risk of creditor remediation or restructuring.
Severe Multi-Year Revenue DeclineA collapse in scale erodes bargaining power with vendors and reduces fixed-cost absorption, undermining margins and service capacity. Structurally, rebuilding revenue base is difficult over months without major new partnerships, market re-entry, or strategic repositioning.
Persistent Negative Operating Cash FlowConsistent operating cash outflows indicate the core business is not generating cash to fund operations or service debt. Over 2-6 months this increases reliance on external financing or asset sales, heightening liquidity and continuity risk if market access is limited.