Low Leverage / Stronger Equity BaseVery low leverage and a materially strengthened equity base provide a durable cushion: limited debt reduces solvency risk and the reported $6.1–6.2M equity and $6.3–6.6M assets in 2025 lower short-term refinancing pressure, reducing likelihood of forced deleveraging.
Narrowing Operating LossesMaterial improvement in operating losses across multi-year periods signals improving cost control or operational efficiency. Though TTM loss remains ~ $1.66M, the consistent narrowing trend supports a credible path toward breakeven over coming quarters if execution continues.
Improving Free Cash Flow TrendAn improving free cash flow trajectory, even if still negative in absolute terms, reduces incremental financing needs and demonstrates operational leverage. Sustained FCF improvement lessens dilution risk and bolsters runway if management maintains cost discipline while progressing commercialization.