Red Flags Detected

• ⚠ Securities Litigation (new) — H.C. Wainwright filed lawsuit in July 2025 alleging breach of engagement agreement; company denying liability and in discovery phase.
• ⚠ Going Concern (worsened) — Accumulated deficit grew from $52.6M to $68.3M; management explicitly states current resources inadequate for next twelve months despite equity raises.
• ✓ Material Weakness (improved) — Material weaknesses identified in 2023 were remediated in fiscal 2024; management now concludes internal controls effective as of December 31, 2025.