Started from the F-1 cover count of 1,353,228 ADS as of 2026-09-23 and subtracted the 3,503 affiliate ADS implied by the F-1's non-affiliate 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 1.35M shares.
The float your screener shows is understated 95%: 690.7K reported, 1.35M actual. 1 floorless convertible note and 3 reverse splits can add another 295% of the float.
ELOC draws and remaining capacity. The F-1 registers 2,706,450 ADS for Yorkville to resell, which is 200% of the 1,349,725 ADS float, from a SEPA with about $13.9M left.
Rapid share count growth. ADS outstanding rose from about 346,822 (2025-12-31, ratio-adjusted) to 570,022 (2026-06-30) to 1,353,228 (2026-09-23), up 290% in 9 months.
Recently registered shares not in data-service float. 473,275 SEPA ADS and 309,931 PFW-exercise ADS issued after June 30 are free-trading but missing from the Insight Sentry float (69,071) and outstanding count (570,022).
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 (2.63M) is below the itemised overhang; ceiling computed from the rows.
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Market data as of Oct 29, 2026
Key dates
- Jan 4, 2027 · Expiry of the December 2023 inducement warrants (29,200 at $65) and agent warrants (876 at $81.25)
- Apr 27, 2028 · Series A warrants (520,833 at $4.80) expire
- Apr 27, 2031 · Series B and inducement warrants (592,737 at $5.50) expire