From what's tradeable today to what's realistically coming. Bigger = more selling pressure ahead.
There are NO convertible notes, preferred stock, or warrants outstanding — so the two largest scoring buckets (convertibles/preferreds and warrant overhang) would mechanically be near zero. However, the calibration reserves 8-10 for 'an ELOC with heavy recent usage,' which is exactly this situation: an active $100M at-market ATM (AC Sunshine Securities) whose issuance drove the stock to sub-penny levels and forced TWO reverse splits in 90 days (1:16 on 2026-04-06, then 1:200 on 2026-07-06). Against a ~400K float and ~$88M market cap, remaining ATM capacity plus a $300M shelf and reverse-split authority up to 5,000:1 represent an actively-used, large-scale at-market dilution engine. Score is set at HIGH (8), overriding the mechanical weighting because the formula centers on convertibles/warrants that are absent while the real, actionable dilution mechanism (an aggressively-drawn ATM) sits in the recent-activity/at-market category.
Share Structure
Float to Fully Diluted Breakdown
Reported float from Insight Sentry. Adjusted based on SEC filing analysis.
Float Discrepancy: our SEC analysis shows 400K vs 1.05M reported — overstated 2.6×
Insight Sentry reports float 400,000, shares_outstanding 2,761,250,046 (pre-1:200-split; /200 = 13,806,250 current), price $6.38, market cap $59.6M. The feed's raw share count is pre-July-split and must be divided by 200. The 400,000 float scales sensibly post-split and matches the reconstructed IPO public float. The key event data services are likely missing is any material ATM issuance under the...
Reported float + filing adjustments
LOW confidence
Registered and convertible shares that could enter the float relative to current float size.
No dilutive instruments identified in recent filings.
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-16·Apr 6, 2026~4 mo ago
- 1-for-200·Jul 6, 2026~1 mo ago
- ▸$100,000,000 at-the-market (ATM) equity program — active, sales agent AC Sunshine Securities LLC (subject to baby-shelf 1/3-of-float cap while public float < $75M)
- ▸$300,000,000 F-3 shelf (333-292580) — effective, baby-shelf limited
- ▸Share consolidation (reverse split) authority of 2:1 up to 5,000:1 within 3 years of the 2026-01-09 EGM
Market Data
$6.27
$6.59M
1.05M
1.05M
10.65M