Persistent Losses And Minimal RevenueSustained net losses with an effectively non‑existent revenue base indicate the core business model is not generating sales or margins. Without durable revenue recovery, profitability cannot be restored, making long‑term viability dependent on structural changes or new business lines.
Recent Cash BurnConsecutive years of negative operating and free cash flow deplete liquidity and force reliance on external financing or asset dispositions. This trend reduces strategic optionality, raises refinancing or dilution risks, and threatens continuity unless cash generation reverses sustainably.
Negative Returns On EquityPersistently negative ROE despite a stronger equity base shows the company is not monetizing its capital or assets effectively. This signals structural inefficiency or poor asset utilization, limiting long‑term shareholder value creation unless operational performance materially improves.