The company says its prior financial statements should not be relied on; a restatement follows.
Radar 60 (elevated attention) · dilution pressure high · listing risk low · governance risk elevated · runway 1.3 mo · strongest signal: Runway < 6 months (Jun 30, 2026)
Direction is stated for existing shareholders (▼ more shares / survival or listing risk; ▲ insiders or holders buying). It is a characterization of the filings, not a forecast or a recommendation.
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Runway = liquidity ÷ monthly operating burn at the latest reported period · balance sheet 47 days old. A financing after the balance-sheet date is the main reason a figure can be stale — check the timeline below for offerings since then.
Last 30 days of filing signals plus current balance-sheet flags, newest first. ▼ pressure · ▲ support · hover a score for its components; every row links to the filing.
| Date | Signal | Evidence | Score |
|---|---|---|---|
| Aug 13, 2026 | ▼ Restatement (non-reliance) | “nonreliance” language in 8-K (EX-10.2) filed 2026-08-13 filing | 38 |
| Aug 13, 2026 | ▼ New debt obligation | 8-K Item 2.03 filed 2026-08-13 (accepted 07:10 ET) filing | 34 |
| Aug 12, 2026 | ▼ Going-concern language | “going concern periodic” language in 10-Q (10-Q) filed 2026-08-12 filing | 25 |
| Jun 30, 2026 | ▼ Runway < 6 months | ~1.3 months runway: liquidity $37,330,000 (cash $34,878,000 + investments $2,452,000) as of 2026-06-30, burn $348,554,722/yr (annualized 180-day YTD operating cash flow [companyfacts]) filing | 48 |
| Jun 30, 2026 | ▼ Negative equity | Stockholders' equity $-253,533,000 as of 2026-06-30 filing | 31 |
| Jun 30, 2026 | ▼ Cash < current liabilities | Liquidity $37,330,000 vs current liabilities $429,019,000 filing | 21 |