Red Flags Detected

• ⚠ Material Weakness (worsened) — Material weaknesses in internal controls persist unchanged; remediation timeline extended from fiscal 2025 to fiscal 2026 with no progress reported.
• ⚠ Going Concern (worsened) — Management now self-identifies substantial doubt about going concern (previously attributed only to auditor), with accumulated deficit growing $10.6M to $43.3M.
• ⚠ Goodwill Impairment (new) — Recorded $2.17M non-cash goodwill impairment across SwissLink, IoT Labs, Smartbiz, and Whisl subsidiaries, signaling underperformance versus acquisition expectations.