Lack Of RevenueThe absence of revenue generation highlights the company's reliance on external funding, posing risks to financial sustainability and limiting operational flexibility.
Ongoing Cash BurnPersistent negative cash flow indicates continued reliance on external financing, which can be challenging to maintain and may affect long-term viability.
Equity DilutionDeclining equity levels due to dilution can erode shareholder value and indicate financial instability, potentially impacting investor confidence and future capital raising.