Negative Shareholders' EquityNegative equity signals impaired solvency and a weakened capital base, limiting capacity to absorb losses and raising refinancing risk. It constrains access to debt financing, heightens covenant/default risk, and materially reduces strategic flexibility over the coming months.
Declining Revenue And Deteriorating MarginsOngoing revenue contraction coupled with shrinking gross margins erodes core profitability and scale economics. This structural revenue/margin deterioration suggests weaker market position or pricing pressure, making sustainable recovery difficult without substantive operational or commercial changes.
Cash Flow InstabilityOperating cash flow at zero and intermittent negative free cash flow undermine the company's ability to fund operations, capex, or service debt from internal sources. This persistent liquidity stress increases reliance on external financing or asset sales, constraining strategic options.