Red Flags Detected

• ⚠ Going Concern (new) — Auditor and management both disclosed substantial doubt about the company's ability to continue as a going concern for the next 12 months, driven by zero revenue since March 2025 and inability to fund operations.
• ⚠ Delisting (worsened) — NYSE American formally commenced delisting proceedings in April 2025 after the company's 18-month compliance plan expired without cure; stockholders' deficit of $15.3M violates minimum equity requirement.
• ⚠ Material Weakness (worsened) — Company now identifies three specific material weaknesses (segregation of duties, no written policies, insufficient GAAP resources) versus prior year's single weakness, with no remediation progress disclosed.
• ⚠ Covenant Violation (new) — Company disclosed it may be in default under various obligations due to covenant breaches, payment defaults, or cross-default triggers, and is negotiating with $4.7M in past-due creditor balances.