Remember, Sivers has run operating losses above 140 million Swedish kronor for five straight years; the 2025 operating loss was about 178 million kronor, and net loss was about 223 million, and adjusted EBITDA for 2025 was negative 50 million though Q4 turned positive at roughly 10.8 million, and cash sits at about 30 million kronor, and the audited report flags material going‑concern uncertainty because we have not yet achieved sales revenue sufficient to cover development plans and depend on raising additional capital, okay?
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