Red Flags Detected

• ⚠ Restatement (new) — Company restated 2024 annual and multiple quarterly filings due to revenue recognition errors (gross vs. net presentation under ASC 606).
• ⚠ Material Weakness (worsened) — Material weaknesses expanded from segregation-of-duties to seven control failures including revenue recognition errors requiring restatement, inadequate oversight of goodwill impairment, and deficient SEC filing review.
• ⚠ Goodwill Impairment (worsened) — Goodwill impairment charge increased ninefold from $787K in 2024 to $6.9M in 2025, indicating worsening asset valuation issues.
• ⚠ Going Concern (worsened) — Net loss more than doubled to $30.4M in 2025 from $14.3M in 2024; stockholders' equity turned negative to $(1.8)M deficit, deepening going-concern risk.