Red Flags Detected

• ⚠ Going Concern (new) — Recurring losses, $218M accumulated deficit, and near-term debt maturities raise substantial doubt about ability to continue as going concern.
• ⚠ Delisting (new) — Nasdaq non-compliance notice for minimum bid price requirement; must regain compliance by July 2026 or face delisting.
• ⚠ Goodwill Impairment (new) — $6.2M goodwill impairment on Instone reporting unit reflects 31% decline in estimated fair value driven by softer demand and higher costs.
• ⚠ Material Weakness (worsened) — Material weaknesses in disclosure controls persist and contributed to 15-day filing extension for acquisition accounting completion.