Going concern warnings

The Company has an accumulated deficit of $ 296,570,132 and has a working capital deficit of $ 10,869,592 as of June 30, 2026, which raises substantial doubt about its ability to continue as a going concern.

Accordingly, we have determined that substantial doubt exists about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for one year from the issuance of the financial statements.

Accordingly, there is substantial doubt about the entity's ability to continue as a going concern within one year after the financial statements are issued.

These factors raise substantial doubt about the Company's ability to continue as a going concern for the twelve months from the date that the financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions continue to raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued.

As of June 30, 2026, there continue to be factors which raise substantial doubt about the Company's ability to continue as a going concern within one year from the date the condensed consolidated financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

We incurred a working capital deficit of approximately US$6.0 million and US$7.7 million as of December 31, 2024 and 2025, respectively, which raises substantial doubt about our ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the unaudited condensed consolidated interim financial statements being issued.

As discussed under "Going Concern," the reclassification of our long-term debt to current liabilities and our resulting working capital deficit raise substantial doubt about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued.

These factors raise substantial doubts about the Company's ability to continue as a going concern for a period of 12 months from the date the consolidated financial statements were available to be issued.

Therefore, based on the Company's current financial condition and expected future cash flows, there is substantial doubt about the Company's ability to continue as a going concern for at least twelve months from the date of these financial statements issued.

…limited working capital and liquid assets relative to anticipated operating cash flow needs, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are available to be issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

It is management's opinion that these matters raise substantial doubt about our ability to continue as a going concern for a period of twelve months from the issuance date of these consolidated financial statements.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

The Company's liquidity condition raises substantial doubt about the Company's ability to continue as a going concern for a period of time within one year after the date that the accompanying condensed financial statements are issued.

These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern.

As a result of the Company's history of losses and financial condition, there is substantial doubt about the ability of the Company to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of time within one year after that date that the consolidated financial statements are issued.

As a result, there is substantial doubt about the Company's ability to continue as a going concern for one year from August 19, 2026, the date the financial statements were available to be issued.

These conditions and events, considered in the aggregate, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these consolidated financial statements are issued.

Accordingly, these factors raise substantial doubt about the Company's ability to continue as a going concern.

These factors, as well as the uncertain conditions that the Company faces relative to capital raising activities, create substantial doubt as to the Company's ability to continue as a going concern.

Circle8 has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the date of issuance of its unaudited condensed consolidated financial statements.

Based on these factors, substantial doubt exists regarding the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern for a period of twelve months from the issuance date of this Quarterly Report.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these financial statements are issued.

These circumstances raise substantial doubt about the Company's ability to continue as a going concern for the 12 months from the date when these financial statements were issued.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year from the date of filing.

These conditions raise substantial doubt as to the Company's ability to continue as a going concern..

Our Company's recurring losses from operations and negative cash flows from operations and our need to raise additional funding to finance our operations raise substantial doubt about our ability to continue as a going concern.

Accordingly, substantial doubt about the Company's ability to continue as a going concern exists.

These factors raise substantial doubt regarding the Company's ability to continue as a going concern within one year after the financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

The Company has incurred losses since its inception, has negative working capital of approximately $ 22.9 million and has negative operating cash flows, which raise substantial doubt about the Company's ability to continue as a going concern.

These circumstances raise substantial doubt about the Company's ability to continue as a going concern for the 12 months from the date when these financial statements were issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from the date that the financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

Therefore, there is substantial doubt about the ability of the Company to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern over the next 12 months after the date these financial statements are issued.

There is substantial doubt regarding our ability to continue as a going concern which is contingent upon our ability to secure additional financing, increase ownership equity and attain profitable operations.

Going Concern: The Company has an accumulated deficit of $ 84,714,880 at June 30, 2026, which, among other factors, raises substantial doubt about the Company's ability to continue as a going concern.

These matters raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from the date of this filing.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from the date these unaudited condensed financial statements are issued.

The ability to successfully resolve these factors raises substantial doubt about the Company's ability to continue as a going concern.

These matters raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of at least one year from the date these consolidated financial statements were issued.

The company has experienced recurring losses that raise substantial doubt about its ability to continue as a going concern.

Accordingly, these conditions and events raise substantial doubt about the Company's ability to continue as a going concern.

Accordingly, these conditions indicate the existence of a material uncertainty that raises substantial doubt about the Group's ability to continue as a going concern.

Accordingly, there is substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

As a result of the above factors, there is substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of 12 months from the date of this filing.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the financial statements are issued.

These conditions raise substantial doubt about our ability to continue as a going concern within the twelve (12) months after the date that our financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for one year from the issuance of the unaudited condensed consolidated financial statements.

There is substantial doubt about our ability to continue as a going concern.

These matters raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of time within one year from the date that the unaudited condensed financial statements are issued.

We believe that there is substantial doubt concerning our ability to continue as a going concern as we currently do not have adequate liquidity to meet our operating needs and satisfy our obligations for at least the next twelve months.

THERE IS SUBSTANTIAL DOUBT AS TO WHETHER WE CAN CONTINUE AS A GOING CONCERN.

…raise substantial doubt about the Company's ability to continue as a going concern until the earlier of the consummation of the Business Combination or the Termination Date…

As a result of these factors, there is substantial doubt about the ability of the Company to continue as a going concern for one year from the date the financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for twelve months from the date of issuance of these interim condensed consolidated financial statements.

Without additional funding, there is substantial doubt about the Company's ability to continue as a going concern for twelve months from the date these financial statements are issued.

Mandatory liquidation at the end of the Completion Window is a liquidity condition that raises substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

Management has determined that the mandatory liquidation and subsequent dissolution, should the Company be unable to complete a Business Combination by May 27, 2027 raises substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

Management has concluded that substantial doubt exists with respect to the Company's ability to continue as a going concern within one year after the date these consolidated financial statements were issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

…note 1 to the consolidated financial statements, we have incurred and expects to continue to incur net lossess and negative cash flows from operations and has stated that substantial doubt exists about our ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern within twelve months from the date these unaudited condensed consolidated financial statements are issued.

Without additional funding, there is substantial doubt about the Company's ability to continue as a going concern for the twelve months from the date of these financial statements.

…management has determined that the Company's liquidity condition raises substantial doubt about the Company's ability to continue as a going concern through twelve months from the date these financial statements are available to be issued.

These factors raise substantial doubt about the Group's ability to continue as a going concern for the next twelve months from the date of issuance of these unaudited condensed consolidated financial statements.

These factors raise substantial doubt regarding the Company's ability to continue as a going concern.

Under ASC 205 - 40, substantial doubt exists about the Company's ability to continue as a going concern.

These factors also raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued.

As a result, management has determined that such an additional condition also raises substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

When considered with its current operating plan, these conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these financial statements are issued.

…substantial doubt exists about the Company's ability to continue as a going concern for twelve months from the date of issuance of our financial statements.

Because of recurring operating losses and operating cash flow deficits, there is substantial doubt about the Company's ability to continue as a going concern for at least one year from the date of this filing.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

Management has determined that the mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution, also raises substantial doubt about the Company's ability to continue as a going concern.

…management has determined that the Company's projected liquidity condition raises substantial doubt about the Company's ability to continue as a going concern.

These matters, among others, raise substantial doubt about the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the condensed financial statements being issued.