Very High LeverageA debt-to-equity ratio above 8.3 and low equity ratio (~9.8%) create structural financial risk. High leverage magnifies losses, limits strategic flexibility, increases refinancing needs and makes the company more sensitive to interest-rate moves or asset value declines over the medium term.
Negative Operating And Free Cash FlowsPersistent negative operating and free cash flows mean core operations do not generate sufficient cash to fund investment or dividends. This structural shortfall forces reliance on external funding, constrains organic growth and elevates vulnerability to tighter credit conditions over the coming quarters.
Reliance On Financing Activities For LiquidityMaterial inflows from financing activities signal dependency on external capital to sustain operations and asset growth. That reliance exposes the firm to funding-cost volatility and market access risk, which can impair resilience if capital markets tighten or funding spreads widen.