Red Flags Detected

• ⚠ Going Concern (new) — The company explicitly states that its financial statements have been prepared on a going-concern basis and its continued operations are in doubt.
• ⚠ Material Weakness (new) — The company discloses several material weaknesses in its internal control over financial reporting.
• ⚠ Restatement (new) — The company restated its 2025 consolidated financial statements to correct the classification of the WAB Loan Agreement.
• ⚠ Customer Concentration (new) — Two customers represented 25% and 28% of total revenues for 2025 and 2024, respectively, and the top five customers accounted for approximately 45% of revenue as of December 31, 2025.
• ⚠ Distributor Concentration (new) — Approximately 42% of sales were generated by independent distributors, with two distributors accounting for 14% and 15% of those amounts.
• ⚠ Intellectual Property (new) — The company states it currently has no intellectual property rights for its products.
• ⚠ Tax Exposure (new) — The company is not registered with certain Canadian provinces and may have undercharged or failed to charge customers for applicable GST, HST, and PST.