NCTIntercont (Cayman) Ltd · NASDAQ Capital Market · $1.84M mkt cap
Assessed Sep 18, 2026 · Float drift
Is the float you're seeing correct?
1.22M
Estimated float

All post 1-for-25 reverse split effective 2026-09-17.

Understated 24%
981.6K
Reported float

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

Your screener is showing a float that no longer exists. Trade off 1.22M shares.

Dilution risk7/10HIGH
CONFIDENCE: MEDIUM

The float your screener shows is understated 24%: 981.6K reported, 1.22M actual. 1 floorless convertible note and 2 reverse splits can add another 92% of the float.

  • Catastrophic share count growth / completed dilution cycle. Class A Ordinary Shares expanded from 860,402 (2025-06-30, first-split-adjusted) to 1,012,774 (2025-12-31) to 1,437,740 (2026-06-08) to 25,437,740 (2026-08-14) — a 2,856% increase in fourteen months…

  • Serial reverse splits with a third pre-authorized at up to 1-for-1,000. Two 1-for-25 reverse splits executed in under six months (2026-04-02 and 2026-09-17) for a cumulative 625:1 compression.

  • Active variable-rate equity line (ELOC) with ~$9.57M undrawn vs. $10.5M market cap. The White Lion Capital ELOC remains live with approximately $9,567,559 of its $10,000,000 commitment undrawn — roughly 91% of the entire market capitalization — purchasable at market-linked prices at…

From today's float to the ceiling

shares
1.22M
Estimated float
tradeable today
+0 can sell now
1.22M
Effective supply
float plus what sells on notice
+8.4K if floors are cut and warrants exercise
1.22M
Fully diluted
ceiling

Where the shares come from

each subtotal is a rung on the ladder above

Tradeable today
1.22M
Can sell now
Warrants in the money
None of the outstanding warrants are exercisable at this price.
+0
Effective supply
1.22M
Converts only if floors are cut
Convertible notes
At the stated conversion prices; a cut to those prices raises the count.
+8.3K
Notes with no conversion price set
Sized in dollars until a price or floor is set; not counted in the ceiling.
$2.71M
Above the current price
Warrants out of the money
Struck above the current tape; supply only if the stock rises.
+134
Fully diluted
1.22M

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

See the full breakdown

Red flags, financing counterparties, the deal timeline, and every SEC filing — free with an account.

Sign in to continue

The facts

Price
—
Market cap
$1.84M
Shares outstanding
1.22M
Reported float
981.6K
Avg volume
72.1K
Reverse splits
2 · latest 1-for-25 · Sep 17, 2026
Going concern
Yes · 2.8 quarters runway
Quarterly burn
$1.34M

Market data as of Oct 29, 2026

Key dates

  • Oct 31, 2026 · Primary-shareholder financial support commitment expires — historically the trigger point for a new financing round at this issuer
  • Jan 8, 2027 · July 2026 Warrants expire — immaterial, the zero-exercise-price option appears to have been fully utilized in July/August 2026
  • Feb 20, 2027 · White Lion ELOC commitment period ends (18-month anniversary of the 2025-08-20 agreement) — expect draw acceleration ahead of this date, mirroring the five-dra…
  • Jun 5, 2031 · Outside date for the board to unilaterally effect the pre-approved 'Further Revised Reverse Share Split' at any ratio up to 1-for-1,000 with no further shareho…