Persistent Negative Operating And Free Cash FlowSustained negative operating and free cash flow signals the business is not funding operations internally, forcing reliance on external capital. Over months this raises execution and dilution risk, constrains reinvestment, and limits runway for commercial expansion absent reliable financing sources.
Large Operating Losses Relative To SalesVery large operating losses versus a small revenue base undermine the trajectory to sustainable profitability. This structural earnings gap reduces financial resilience, weakens return on invested capital, and increases the risk that future growth will require ongoing subsidization by new capital.
Nasdaq Minimum Bid Price Non-compliance RiskA Nasdaq bid-price non-compliance notice is a structural governance and liquidity risk: potential delisting or remediation actions can reduce investor access and liquidity, distract management, and make future capital raises more difficult, affecting strategic execution over months.