Balance Sheet & Liquidity: ICU’s balance sheet shows marginal improvement, with total assets rising from $3.513M (2023) to $7.597M (Q1 2025) and liabilities decreasing to $7.032M. However, negative equity (-$2.183M in 2024) and a current ratio of 0.96 (Q1 2025) indicate ongoing liquidity strain. The company remains highly leveraged, with a debt-to-equity ratio of -3.16 (2024), reflecting structural fragility.
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