CLEANCORE SOLUTIONS, INC.

Red flags

• Going-concern uncertainty: $15.4 million cash at June 30, 2026, against $18.2 million of annual operating cash use; management says current resources may not fund planned spending over the next 12 months.
• Losses and financing dependence: $174.2 million net loss and $58.0 million operating loss for fiscal 2026; the $750 million ATM offers a potential funding source but could materially dilute shareholders.
• Financial reporting controls were deemed ineffective due to material weaknesses, including insufficient accounting expertise and inadequate segregation of duties.
• Historical Dogecoin activity produced a $39.0 million fair-value loss; substantially all remaining holdings were sold in July 2026.
• The flagship Minnesota campus is leased to one customer, creating substantial tenant concentration risk; AI construction also depends on a limited number of equipment and labor providers.