Is investing in pre-revenue companies ie. new mining companies in initial drilling stages or biotech companies that are currently in the R&D phases be halal to invest in? Assuming that they meet the ‘Halal stock screening guide’ as listed on your website. Most of these look at quantitative balance sheet ratios and not p&l hence i just wanted to make sure.
The question is also whether the qualitative and fundamental risk of these companies which may not necessarily be represented in a companies financials is a factor in determining the sharia compliance of a stock.