Start from 56,716,262 shares outstanding (XBRL/10-Q cover 2026-08-13).
Data-service feed, fetched today. The number TradingView and most screeners show.
Your screener overstates the float. Trade off 4.62M shares.
The float your screener shows is overstated 5.3×: 24.36M reported, 4.62M actual. 3 floorless convertible notes and 2 reverse splits can add another 120% of the float.
Registered resale of restricted shares — 13x float expansion pending. S-1 No. 333-297170 registers 62,670,547 shares for resale, of which 51,952,563 are already issued and outstanding but currently restricted (131,027 merger shares + 51,789,000 shares from the 2026-06-…
Variable-rate / floorless convertible notes (death spiral). Three convertible instruments price off market rather than at a fixed price.
Rapid share count growth — 4,205.7% in under three months. Shares outstanding grew from 1,317,228 on 2026-05-20 to 56,716,262 on 2026-08-13 — an increase of 55,399,034 shares, or 4,205.7%, in 85 days.
From today's float to the ceiling
sharesCeiling computed from the itemised overhang.
Where the shares come from
each subtotal is a rung on the ladder above
Not counted anywhere: ATM and shelf capacity. Convertible share counts use stated conversion prices.
Engine fully-diluted count left too much unexplained; ceiling computed from the itemised overhang.
See the full breakdown
Red flags, financing counterparties, the deal timeline, and every SEC filing — free with an account.
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Market data as of Oct 25, 2026
Key dates
- Dec 14, 2026 · First FirstFire amortization payment of $161,333.33 due (day 180) — a miss converts the $5.00 fixed price into a floating 85%-of-lowest-5-day-VWAP death spiral…
- Feb 3, 2027 · Final Agile BLSA weekly payment — a $2,340,000 total repayment schedule running $65,000/week that competes directly with cash available to service the FirstFir…
- Jan 28, 2028 · End of the Hudson Global ELOC commitment period — the outer bound on ~$53.8 million of undrawn equity line capacity