PLURI INC.

Red flags

• Going-concern warning: cash and deposits were $8.851 million at June 30, 2026, versus $19.588 million of negative operating cash flow for the year; management estimates liquidity for less than three months from the financial-statement issuance date.
• Shareholders’ deficit was $23.036 million and accumulated deficit was approximately $466.876 million; annual net loss was $25.369 million, including $23.821 million attributable to shareholders.
• The EIB loan’s $27.431 million principal and accrued interest was classified as short-term, while the EIB can exercise remedies until a settlement or conversion is finalized.
• Dilution is material: weighted average shares used for basic and diluted EPS increased to 9.744 million from 6.337 million, while July 2026 ATM issuance added 275,000 shares at $2.17 per share.
• The company has $28.021 million of contingent IIA royalty liability, excluding SOFR interest, payable if products or services derived from funded technology generate sales.