Red Flags Detected

• ⚠ Going Concern (new) — Company disclosed substantial doubt about ability to continue as going concern due to projected revenue covenant breach in March 2027 and insufficient liquidity to repay if lender calls facility.
• ⚠ Debt Default (new) — Company projects it will fail to meet March 2027 revenue covenant, which could trigger facility call and inability to repay.
• ⚠ Loss On Extinguishment Of Debt (new) — Company recorded $0.5M loss on debt extinguishment in Q1 2026, including prepayment penalties and write-off of deferred costs.