Telecom operator Oi S.A. (OIBR3), operating under judicial reorganization, is facing an imminent operational crisis after its judicial manager informed a Rio de Janeiro court that the company's cash reserves are projected to plummet to a critical R$19.6 million by the end of July 2026. The filing warned that without an immediate capital injection or change in its financial trajectory, the company may not have sufficient resources to maintain regular operations starting August 1. The sharp decline from an R$88.1 million balance, detailed in a filing to the Court of Justice of Rio de Janeiro, highlights the extreme liquidity crunch threatening one of Brazil's largest former state-run companies, potentially forcing a definitive bankruptcy conversion.