Post-split shares outstanding (62,214,156 / 20) less affiliate-held shares implied by the 424B5 General Instruction I.B.6 baby-shelf calculation (25,254,756 pre-split / 20).
Data-service feed, fetched today. The number TradingView and most screeners show.
Your screener is showing a float that no longer exists. Trade off 1.85M shares.
The float your screener shows is understated 16%: 1.59M reported, 1.85M actual. An active $4.4M ATM and 2 floorless convertible notes can add another 414% of the float.
Variable-rate convertible / death spiral. White Lion Capital holds approximately $1,111,112 of face amount in unsecured convertible notes (Third Closing 2026-05-18 and Fourth Closing 2026-07-10) convertible at the LESSER of $15.00 post-split…
ATM capacity vastly oversized relative to float and market cap. A $4,353,000 At Market Issuance Sales Agreement with Roth Capital Partners went live on 2026-08-13 against a current market capitalization of only $5,319,310 — the ATM is 82% of the entire market cap…
Equity line of credit (ELOC) with at-market/below-market pricing and large remaining capacity. The White Lion $25.0 million Common Stock Purchase Agreement remains live with a commitment period extended to 2027-06-30 and only $836,766 drawn through 2026-03-31 (358,000 pre-split shares issued).
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
ATM program active with $4.4M 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 (10.97M) is below the itemised overhang; ceiling computed from the rows.
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Market data as of Oct 25, 2026
Key dates
- Nov 27, 2026 · Nasdaq governance cure deadline under Rules 5605(b)(1) and 5605(d)(2)(A) if the next annual meeting is held before that date (otherwise the earlier of the next…
- Dec 31, 2026 · Maturity of $1,750,000 of NLabs Inc. demand promissory notes (issued 2026-07-30, 2026-07-31 and 2026-08-26), payable earlier on demand. Given that every prior…
- Jan 1, 2027 · NLabs warrants for 666,598 post-split shares at $6.20 become first exercisable, expiring 2027-06-25 through 2031-06-25.
- Jan 14, 2027 · Maturity of the First White Lion Note (12 months from issuance); subsequent closings mature on rolling 12-month schedules through July 2027.