-100%

est. 2Y upside i

IPO

Rank

#4062

Sector

Technology Services / IoT & Embedded Software

Est. Liquidity

~2Y

Data Quality

Data: Low

Avoid.

Last updated: July 3, 2026

Bull (10%)-100%

Remaining IP assets or partial sale could yield some value, but $32.6M preference overhang leaves common stock with no recovery; projected revenue of $3.3M in 24 months is too low to exceed preference.

Base (40%)-100%

Continuing operations shrink further; substantial doubt about going concern persists; common stock worthless as exit value remains below liquidation preference.

Bear (50%)-100%

Company fails to continue as a going concern; common stock recovers zero as all assets go to preferred holders.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

52900%

$32.6M preferred liquidation preference vs $6.16M valuation; common stock is deeply underwater.

Dilution Risk

high

Any future capital raise would cause severe dilution; current equity value already negligible.

Secondary Liquidity

none

Secondary implied value of $6.16M but no active market; shares likely untradeable.

Questions to Ask at the Interview

Strategic questions based on Borqs's data — designed to show you've done your homework.

  • 1

    “How would you value a distressed company with negative growth and substantial doubt?”

  • 2

    “What are the key risks in IoT hardware/software and how do they affect equity value?”

  • 3

    “Given the preference stack, what conditions would make common stock valuable?”

Community

Valuation Sentiment

Our model estimates -100% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.