KULR Technology: Dismal Quarter, But Reiterating Hold After Recent Bitcoin Selloff

KULR Technology Group, Inc. reported dismal fourth-quarter results, with elevated cash burn and negative gross margins. Core battery revenues fell off a cliff without any sort of explanation provided by management on the conference call. In addition, profitability was impacted by a large number of impairment charges including additional write-offs related to the company's failed investment in exoskeleton developer German Bionic.