Pre-revenue BusinessAbsence of revenue means the business model remains unproven and cash generation is not yet self-sustaining. Long-term viability hinges on successful commercial launch, creating persistent execution and financing risk over the next several months.
Negative Shareholders' EquityNegative equity and a tiny asset base constrain solvency and borrowing capacity, elevating liquidation and funding-risk. Structurally, this limits strategic options and increases reliance on dilutive equity raises or external support to maintain operations.
Ongoing Negative Cash GenerationPersistent negative operating and free cash flow means ongoing cash burn and continued dependence on external financing. This structural funding need raises dilution risk and execution pressure until sustainable revenue and positive cash generation emerge.