Negative Shareholders' EquityShareholders' equity is negative since 2024 and remains so in TTM, reflecting cumulative losses that have eroded the capital base. Negative equity limits access to traditional financing, raises insolvency risk, and constrains strategic flexibility if losses continue.
Persistent Negative Cash FlowOperating and free cash flow were negative in every period, including TTM. Ongoing cash burn requires external funding or asset draws, restricting the firm's ability to invest, scale, or weather downturns and increasing dilution or refinancing risk over the medium term.
No Meaningful Revenue / Negative Gross ProfitTTM revenue reported as zero with negative gross profit indicates the core business is not currently generating sufficient sales to cover direct costs. Without restoring revenue and positive gross margins, long-term margin sustainability and scalability are highly uncertain.