No Revenue GenerationThe company currently has no top-line revenue, a fundamental constraint on sustainability. Absent durable revenue, operational viability depends entirely on future commercialization or resource monetization, increasing execution risk over the coming months.
Negative Shareholder EquityPersistently negative shareholder equity reflects accumulated losses and weak capital resilience. This structural weakness heightens funding risk, can impede borrowing capacity, and forces reliance on dilutive financing, limiting strategic flexibility over the medium term.
Material Cash BurnMaterially negative operating and free cash flow indicate ongoing cash burn and dependence on external funding. This structural cash deficit increases dilution and refinancing risk, constraining investment in growth and exposing the company to funding shortfalls until cash flow turns positive.