Risk factors

Customer concentration heavily tilts toward government entities and a single state government client, driving most revenues. Financial disclosures now show an accumulated deficit of $23.5 million alongside a zero-debt position and a $1.0 million line of credit.

Inmune Bio faces going concern doubts with an accumulated deficit of $209,037,000 and cash of $24.8 million. Regulatory dependence centers on CORDStrom for RDEB and potential competitors' approvals. Capital-raising limits apply while public float remains below $75.0 million.

Innventure relies heavily on its early-stage operating companies, especially Accelsius and AFX, whose success remains uncertain. Securing additional funding through the Yorkville SEPA and navigating complex regulatory and manufacturing scaling hurdles are critical for growth.

Jasper Therapeutics faces severe going concern doubts, relying heavily on briquilimab development while restructuring operations.

KRAKacquisition is a blank check company seeking an initial business combination with a primary focus on the digital assets ecosystem.

Net losses increased to $20.4 million in 2025, bringing the accumulated deficit to $70.0 million. Received a Nasdaq minimum bid price deficiency notice on February 20, 2026. Added references to the OBBBA tax legislation.

The company streamlined its risk disclosures by removing redundant Merchant Investment and warrant risks while emphasizing operational and trade policy threats.

Legence Corp faces heavy exposure to construction cycles, particularly fixed-price contract risks and cost overruns. High unionization and multiemployer pension obligations drive labor cost uncertainties. Substantial goodwill and reported material weaknesses in internal controls highlight financial reporting risks.

Lumexa Imaging relies heavily on physician referrals, contracted radiology groups, and fixed-cost diagnostic equipment operations across its imaging centers.

Laird Superfood acquired Navitas, resulting in Nexus taking a controlling 56.2% to 73.9% stake in the company. Financial losses continued, with operating losses widening to $3.4 million in 2025.

Lantern Pharma faces a going concern doubt requiring urgent funding for R&D and clinical trials.

Lulu's Fashion Lounge faces severe tariff hikes on Chinese goods reaching up to 152.5% in 2025.