Record-date shares outstanding (2026-09-18), minus R01/Kazley and director-held issued shares, minus Framework's issued shares.
Data-service feed, fetched today. The number TradingView and most screeners show.
Your screener is showing a float that no longer exists. Trade off 6.41M shares.
The float your screener shows is understated 3.5×: 1.83M reported, 6.41M actual. An active $84.5M ATM and 4 reverse splits can add another 2,951% of the float.
Warrant overhang (in-the-money, near-zero strike). There are 167,539,227 pre-funded warrants at $0.05 against a $2.59 price.
Pending resale registration. Resale S-3 333-298229 registers 212,876,259 shares, about 4.1x shares outstanding.
Blocker removal precedent / cashless exercise. In June 2026 the company amended the October 2025 PFWs to remove the beneficial ownership blocker and the delayed-exercise terms.
From today's float to the ceiling
sharesWhere the shares come from
each subtotal is a rung on the ladder above
ATM program active with $84.5M of registered capacity remaining. Public float is under $75M, so the baby-shelf rule caps primary sales near $2.4M per 12 months; the headline figure is not the near-term supply.
Not counted anywhere: ATM and shelf capacity. Convertible share counts use stated conversion prices.
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Market data as of Oct 6, 2026
Key dates
- Oct 16, 2026 · Second PFW tranche unlocks (cumulative 50% = 83,769,614 shares); CEO PSU performance period starts; 18,000 legacy director RSUs vest
- Nov 10, 2026 · Annual meeting (proxy dated 2026-09-28)
- Jan 1, 2027 · 2026 Plan evergreen adds up to 4% of outstanding
- Jan 16, 2027 · Final PFW tranche unlocks (83,769,614 shares)