I’m having trouble assessing compliance of early developing companies that have no revenue. Zoya seems to flag any income from interest (cash in an account) as haram - and gives the companies 100% non-compliant revenue or financial screen failure.
An example is biotech/pharma. Valuation is driven by IP and clinical trials, FDA approvals etc but the companies may need 5+ years until they make actual revenue.
I am looking at one now - zero debt on balance sheet, halal sector (oxygenating blood) but a tiny bit of income from cash deposits which is getting flagged. Their main business is obviously not to earn interest from deposits, they want to sell medicine and equipment. Numbers like shareholder investment, market cap dwarf the income from interest which is miniscule and not central to the business.
So what do we do?