CNTBHIGH SIGNALFINANCIAL10-K

CNTB experienced a catastrophic operational collapse with revenue plummeting 99.8% from $26.0M to just $64K while losses more than tripled.

This represents a near-complete business failure, suggesting the company has essentially ceased normal operations or lost substantially all of its revenue-generating activities. The combination of massive revenue decline, tripled losses, and 51% cash burn puts the company's viability in serious question.

Comparing 2026-03-31 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

CNTB's financials show a company in severe distress across all major metrics. Revenue collapsed by 99.8% to just $64K while net losses expanded from -$15.6M to -$55.5M, indicating both operational failure and increased costs. The balance sheet deteriorated significantly with cash declining 51% to $38.3M, stockholders' equity cut in half to $42.0M, and current liabilities increasing 61%, painting a picture of a company burning through resources at an unsustainable rate while generating virtually no revenue.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
-255%
-$15.6M→-$55.5M

Net income declined 255% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-158.7%
-$22.5M→-$58.1M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Operating Cash Flow
Cash Flow
-116.9%
-$23.6M→-$51.2M

Operating cash flow fell 116.9% — earnings quality concerns; investigate working capital changes and non-cash items.

Revenue
P&L
-99.8%
$26.0M→$64K

Revenue declined 99.8% — significant demand weakness or market share loss warrants investigation.

Accounts Receivable
Balance Sheet
-98.4%
$789K→$13K

Receivables declined — improved collection efficiency or conservative revenue recognition.

Current Liabilities
Balance Sheet
+60.9%
$8.5M→$13.6M

Current liabilities surged 60.9% — significant near-term obligations; verify ability to meet short-term debt.

Total Liabilities
Balance Sheet
+54.6%
$9.1M→$14.1M

Liabilities grew 54.6% — significant increase in debt or obligations, assess impact on financial flexibility.

Stockholders Equity
Balance Sheet
-54.5%
$92.2M→$42.0M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Cash & Equivalents
Balance Sheet
-51%
$78.2M→$38.3M

Cash declined 51% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Current Assets
Balance Sheet
-47.5%
$97.0M→$50.9M

Current assets declined 47.5% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2026-03-31
PRIOR — 2025-03-31
ADDED
As of March 26, 2026, there were 56,521,282 ordinary shares of the Company ($0.000174 par value) outstanding.
Management s Discussion and Analysis of Financial Condition and Results of Operations 105 Item 7A.
Although the Company has voluntarily elected to file annual, periodic and current reports on U.S.
federal proxy rules pursuant to Section 14 of the Exchange Act and Regulations 14A and 14C thereunder, and Regulation FD.
On December 18, 2025, as part of the National Defense Authorization Act for Fiscal Year 2026, the Holding Foreign Insiders Accountable Act (the HFIAA ) was signed into law.
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REMOVED
As of March 21, 2025, there were 55,349,208 ordinary shares of the Company ($0.000174 par value) outstanding.
Management s Discussion and Analy sis of Financial Condition and Results of Operations 102 Item 7A.
Although the Company has voluntarily elected to file annual reports, periodic reports and current reports on U.S.
federal proxy rules pursuant to Section 14 of the Exchange Act and Regulations 14A and 14C thereunder, Regulation FD, and its officers, directors, and principal shareholders are not subject to the reporting and short-swing profit recovery provisions contained in Section 16 of the Exchange Act.
In some cases, you can identify forward-looking statements by terminology such as aim, anticipate, assume, believe, contemplate, continue, could, design, due, estimate, expect, goal, intend, may, might , objective, plan, positioned, potential, predict, seek, should, target, will, would and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology.
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