No Revenue GenerationThe lack of revenue generation is a critical issue, as it limits Arctic Star's ability to fund operations internally and increases reliance on external financing, posing a risk to long-term sustainability.
Negative Cash FlowsConsistently negative cash flows indicate operational inefficiencies and the inability to cover expenses, which could hinder Arctic Star's ability to sustain exploration activities without additional financing.
Persistent LossesOngoing losses erode shareholder equity and signal operational challenges, highlighting the need for Arctic Star to improve cost management and find viable revenue streams to achieve financial stability.