Highly Leveraged, Negative EquitySubstantial debt alongside deeply negative equity signals severe balance-sheet impairment and limited loss-absorption capacity. This structural leverage constrains financing options, raises solvency risk, and makes durable recovery dependent on external recapitalization.
Minimal Revenue And Recurring LossesThe company lacks a sustainable revenue base and has posted recurring net losses, indicating no proven core business model. Over a multi-month horizon this undermines prospects for self-sustaining operations and increases dependency on new revenue or funding.
Persistent Negative Operating Cash FlowConsistent negative operating and free cash flow represents a structural cash-generation failure. Continued burn requires repeated external financing, increasing dilution or default risk and limiting the company's ability to invest in growth or stabilize operations.