No Revenue GenerationThe absence of revenue generation is a critical issue, as it indicates the company is not monetizing its core activities, which is unsustainable in the long term and poses a risk to financial health.
Negative Cash FlowsConsistently negative cash flows highlight liquidity challenges and the need for external funding, which can strain the company's financial resources and limit its ability to invest in growth.
Declining EquityDeclining equity suggests that the company is not generating sufficient returns to sustain its capital base, which could impact its ability to attract investment and finance future operations.