Zero Recent Revenue And Negative EBITDANo reported revenue in the last two annual periods and continued negative EBITDA indicate the core business is not currently generating sustainable profits. This undermines durable cash generation and increases execution risk for returning to consistent, positive operating performance.
Historic Losses And Performance VolatilityMulti-year swings from meaningful revenue to zero revenue and large losses create weak predictability in earnings and cash flows. Persistent volatility hampers long-term planning, raises financing costs, and makes it harder to demonstrate a durable turnaround to stakeholders.
Thin Equity CushionEquity of roughly $2.9M provides a limited buffer against renewed losses or operational setbacks. A small capital base restricts the company’s ability to scale, absorb shocks, or fund capex without raising external capital, elevating structural funding risk over the medium term.