From what's tradeable today to what's realistically coming. Bigger = more selling pressure ahead.
EXTREME float expansion risk driven by the pending S-1 offering: 6,605,502 shares registered 2026-04-03 versus only 499,694 float = 1,322% potential expansion. Active ATM with $3,042,500 remaining capacity (~786,000 additional shares at current $3.87 price). Three reverse splits in 26 months (1:25, 1:17, 1:7.7; cumulative ~3,272:1) and a 4th reverse split of 1-for-2 to 1-for-200 proposed in DEF 14A for 2026-05-08 Special Meeting confirms an active dilution cycle. Series C Preferred and older warrants are deeply OTM post-split, but the immediate S-1 overhang and ATM capacity dominate the score.
Share Structure
Float to Fully Diluted Breakdown
Reported float from Insight Sentry (2026-04-22). Adjusted based on SEC filing analysis.
Float Discrepancy: our SEC analysis shows 500K vs 5.17M reported — overstated 10.3×
Reported Insight Sentry float (499,694) aligns with post-split shares outstanding (500,000) and reflects the 2026-03-31 1-for-7.7 reverse split. The massive S-1 registration (6.6M shares) filed 2026-04-03 has NOT yet gone effective, so data service float correctly excludes it. If S-1 goes effective and is fully subscribed, float could expand by 13x+ overnight.
Reported float + filing adjustments
HIGH confidence
Registered and convertible shares that could enter the float relative to current float size.
Share estimates are approximate. Convertible share counts based on current price. Review SEC filings for exact terms.
See the full breakdown
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Sign in to continue- 1-for-25·Feb 27, 2024~2 yr ago
- 1-for-17·Mar 31, 2025~1 yr ago
- 1-for-7.7·Mar 31, 2026~5 mo ago
- ▸Pending S-1 registered direct/best-efforts offering (6,605,502 shares at $5.45)
- ▸ATM program with $3,042,500 remaining capacity (Ascendiant Capital Markets)
- ▸ELOC Equity Line Common Stock Purchase Agreement (2025-06-30)
- ▸Series C Convertible Preferred Stock (750 shares, conversion reset potential)
- ▸Proposed 4th reverse split (1-for-2 to 1-for-200) pending 2026-05-08 stockholder vote
Market Data
$1.02
$5.92M
5.80M
5.17M
15.95M