Liquidity, Governance Concerns for Byju's

Byju's, once India's most valuable startup, is facing a crisis due to lack of audited financial accounts, stalled equity fundraising, and disputes over a $1.2 billion loan. Despite these challenges, there are positive developments: creditors are willing to restructure the debt, and the company is working on finalizing its financial accounts. Byju's is also in talks with early backers to address liquidity issues, indicating potential recovery.

What does the phrase 'from bad to worse' imply about the company's situation?

What is the significance of the company's financial accounts being finalized by the end of September or early October?