Zero Revenue BaseThe company reports essentially zero revenue, indicating no established commercialization or recurring customer receipts. Without revenue, the firm depends on external financing to continue operations, making business viability contingent on successful product development or funding events.
Negative Shareholders' EquityA materially negative equity balance and an extremely small asset base sharply reduce financial flexibility. This structural weakness limits collateral for lenders, constrains capital-raising options, and elevates insolvency risk if losses continue or financing dries up.
Persistent Cash BurnSustained negative operating and free cash flow implies ongoing funding needs and shortens runway absent new capital. Persistent cash burn restricts investment in R&D or commercialization, increases dilution risk from future financings, and threatens continuity if market access tightens.