Zero/volatile RevenueAn absence of recurring revenue is a fundamental business-model weakness. With zero reported sales in 2025, the company lacks validated product-market demand and cannot cover fixed costs from operations, forcing dependence on external funding and hindering sustainable growth.
Persistent And Widening Net LossesOngoing, growing net losses steadily erode returns and equity, increasing future financing needs. Without a clear path to profitability, management must pursue dilutive capital raises or cutbacks, constraining investment in operations, exploration, or commercialization over the medium term.
Chronic Negative Operating Cash FlowConsistent negative operating cash flow indicates real cash burn and limited internal capacity to fund activity. Even with low debt, sustained OCF deficits shorten runway, raise liquidity risk, and increase the likelihood of dilutive financing or project delays, impacting strategic optionality.