EJH scores near the top of the range driven primarily by the recent activity component (30% weight): the company expanded its pre-split share count ~22x in roughly 3 months (Dec 2025 to Mar 2026) via aggressive shelf draws, with two documented registered directs (16M shares at $1.10 in Aug 2025, 30M shares at $0.45 in Nov 2025) plus massive undocumented issuance — this is active, large-scale dilution by any measure. The convertibles/preferreds component contributes zero (no convertible instruments or preferred stock outstanding), and warrants are absent, but the $388M F-3 shelf with an estimated $100-350M remaining capacity against an ~$8M market cap functions as a committed dilution engine: at $2.515/share post-split, remaining shelf capacity could produce 40-140M new shares versus a 73.3M float. The historical pattern component (7 reverse splits in 3.5 years, cumulative >1.25B:1) adds its full weight, and the 1:25 R/S effective today signals the next dilution cycle is beginning immediately.