No Reported RevenueThe absence of any repeatable revenue stream means the business model remains unproven in commercial settings. Without device sales or recurring service income, the company cannot demonstrate sustainable unit economics, slowing margin improvement and limiting strategic partner confidence over the medium term.
Sustained Negative Cash FlowPersistent cash burn of several million dollars TTM creates ongoing financing needs and forces tradeoffs between commercialization, R&D, and G&A. Over months this structural cash intensity increases dilution risk, constrains investment in sales channels, and risks interruption if additional funding is delayed or costly.
Nasdaq Listing Compliance RiskRepeated failure to meet the Nasdaq stockholders’ equity minimum exposes the company to delisting, which would reduce liquidity, limit access to broader capital markets and strategic partners, and force management to allocate resources to remediation rather than long‑term commercial execution.