No RevenueLack of revenue generation poses a significant risk to financial sustainability, necessitating continued reliance on external funding and delaying potential profitability.
Negative Cash FlowPersistent negative cash flow indicates ongoing cash burn, which can strain resources and limit the company's ability to invest in growth opportunities without additional capital raises.
Equity DilutionIssuing new shares increases the total share count, potentially diluting existing shareholders' equity and impacting per-share metrics, while providing necessary capital for operations.