Rebuilt from the latest prospectus share count.
Data-service feed, fetched today. The number TradingView and most screeners show.
Your screener is showing a float that no longer exists. Trade off 955.1K shares.
The float your screener shows is understated 76%: 541.9K reported, 955.1K actual. 2 reverse splits can add another 8,760% of the float.
Pending massive discounted issuance. A signed Reg S SPA would issue 80,000,000 shares at $0.45, about 84x the 955,086 float and 63% below the $1.23 last sale.
Warrant overhang with full-ratchet reset. 1,890,000 common warrants at $1.35 (about 2x float) are near the money now.
Pre-funded warrants. 1,740,000 pre-funded warrants at $0.04 (1.8x float) are immediately exercisable, cashless, and limited only by the 4.99%/9.99% blockers.
From today's float to the ceiling
sharesWhere 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.
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Market data as of Oct 9, 2026
Key dates
- Oct 7, 2026 · October offering closes; 150,000 shares plus 1.74M pre-funded and 1.89M common warrants issued