KWMK Wave Media Ltd. · NASDAQ Capital Market
Assessed Aug 3, 2026 · Reverse split
Is the float you're seeing correct?
1.76M
Estimated float

Post-split outstanding (78,514,509 / 30) less implied affiliate holdings less shares issued in private/unregistered transactions still inside or recently outside Rule 144 holding periods.

NO REPORTED FLOAT
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Reported float

Data-service feed, fetched today. The number TradingView and most screeners show.

Trade off 1.76M shares; data services have no usable float for this ticker.

Dilution risk8/10HIGH
CONFIDENCE: LOW

We put the float at 1.76M; data services have no usable number. An active $5.1M ATM and 4 floorless convertible notes can add another 230% of the float.

  • Floorless variable-rate convertible (death spiral). The Anson Senior Secured Convertible Notes permit the holder, at its sole option at any time, to convert principal and accrued interest at 92% of the LOWEST daily VWAP over the ten trading days prece…

  • ATM launched simultaneously with reverse split. A $5,058,329 at-the-market program with D.

  • Matured floating-discount convertible with registered resale shares. The Loeb & Loeb convertible note ($1,040,479.75 principal, 18% interest) converts at 85% of the VWAP of the lowest closing price over the preceding five trading days — a 15% discount to market with n…

From today's float to the ceiling

shares
1.76M
Estimated float
tradeable today
+83.3K can sell now
1.84M
Effective supply
float plus what sells on notice
+6.93M if floors are cut and warrants exercise
8.77M
Fully diluted
ceiling

Ceiling computed from the itemised overhang.

Where the shares come from

each subtotal is a rung on the ladder above

Tradeable today
1.76M
Can sell now
Registered resale shares, issuable on notice
Already effective; the holder can sell without a further filing.
+83.3K
Warrants in the money
None of the outstanding warrants are exercisable at this price.
+0
Effective supply
1.84M
Converts only if floors are cut
Convertible notes, beyond the registered shares
At the stated conversion prices; a cut to those prices raises the count.
+1.80M
Notes with no conversion price set
Sized in dollars until a price or floor is set; not counted in the ceiling.
$510.53M
Above the current price
Warrants out of the money
Struck above the current tape; supply only if the stock rises.
+5.13M
Fully diluted
8.77M

ATM program active with $5.1M of registered capacity remaining. Sales are paced by the agent against daily volume; the headline figure is not the near-term supply.

Not counted anywhere: ATM and shelf capacity. Convertible share counts use stated conversion prices.

Engine fully-diluted count (4.98M) is below the itemised overhang; ceiling computed from the rows.

See the full breakdown

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The facts

Price
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Market cap
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Shares outstanding
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Reported float
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Avg volume
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Reverse splits
1 · latest 1-for-30 · Aug 3, 2026
Going concern
Yes · 0 quarters runway
Quarterly burn
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Market data as of Oct 30, 2026

Key dates

  • Dec 14, 2026 · Nasdaq deadline to regain compliance with the $15,000,000 Market Value of Publicly Held Shares standard (Rule 5550(b)(2)) — at a ~$7.9M post-split market cap t…
  • Jan 2, 2027 · extended Nasdaq deadline for the $1.00 minimum bid price (Rule 5550(a)(2)) — likely cured by the 1-for-30 split at $3.02, but the cushion is thin
  • Jul 11, 2027 · Anson Initial Notes mature — cash repayment or conversion required
  • Jun 3, 2028 · Bitcoin Strategic Reserve KWM LLC SEPA terminates; $500M of related-party equity line capacity remains available until then
KWM Float & Dilution Analysis | ShareStructure.io