DISH has been battling financially for quite some time.

DISH recently merged with EchoStar to address these difficulties, but according to an SEC filing, it would spend a “substantial amount of cash” in the next 12 months. It “raises substantial doubt about [the company’s] ability to continue as a going [sic] concern,” EchoStar stated in its filing today.

DISH has expressed “substantial doubt” about the company’s capacity to continue. According to Craig Moffett, an analyst at MoffettNathanson, DISH’s pay TV and mobile businesses are “spiraling towards bankruptcy.”

READ MORE: DISH Lost 314,000 TV Subscribers During The Fourth Quarter Of 2023

DISH Network, the satellite television provider, revealed a net loss of $2.029 million for the fourth quarter of 2023, coupled with subscriber decreases in both its basic satellite TV service and Sling TV streaming platform.

The company lost 314,000 TV members in Q4 and another 123,000 in its wireless segment, leaving it with 7.38 million TV subscribers. Sling TV, DISH’s streaming service, lost almost 60,000 members, reducing its total to 2.06 million. This represents a continuation of DISH’s subscriber losses, up from 268,000 in the same quarter of 2022.

These losses occur while DISH invests extensively in expanding its 5G network infrastructure, with the goal of becoming a key rival in the wireless market, which is currently controlled by businesses such as AT&T, T-Mobile and Verizon.

DISH is reportedly seeking an additional $3 billion to complete its 5G network buildout. The question now is whether DISH can complete its 5G network buildout before declaring bankruptcy.