From what's tradeable today to what's realistically coming. Bigger = more selling pressure ahead.
Share count expanded from ~22M (per stale market data) to 82M per the April 30, 2026 F-3 — a ~273% increase in approximately 6 weeks, indicating an extremely active dilution cadence. A $100M primary shelf was filed March 17, 2026 (9x the current $11.2M market cap), and a 19M-share resale registration filed April 30, 2026 represents ~333% of the currently quoted ~5.7M float — these shares will become free-trading upon F-3 effectiveness and quadruple+ the public float. No convertible or warrant details visible in extracted data, but the magnitude of share issuance and shelf capacity relative to market cap alone justifies an elevated score.
Share Structure
Float to Fully Diluted Breakdown
Reported float from Insight Sentry (May 14, 2026) — matches the March 17, 2026 F-3 non-affiliate count, indicating the figure is stale and predates the share count expansion to 82M reported on the April 30, 2026 F-3. Adjusted based on SEC filing analysis.
Float Discrepancy: our SEC analysis shows 24.70M vs 65.70M reported — overstated 2.7×
Insight Sentry's reported float of 5,700,398 and SO of 22,000,000 are stale. The April 30, 2026 F-3 discloses 82,000,000 shares outstanding — a ~273% expansion vs the Insight Sentry SO figure. Data services have not yet caught (a) the share count expansion from ~22M to 82M occurring between March and April 2026, or (b) the 19M-share resale registration filed April 30, 2026 which will convert previ...
Resale registration of 19,000,000 Ordinary Shares by Selling Shareholders — once F-3 becomes effective these shares become free-trading and will enter the public float
Source: F-3 filed 2026-04-30
Reported float + filing adjustments
MEDIUM confidence
Registered and convertible shares that could enter the float relative to current float size.
No dilutive instruments identified in recent filings.
Share estimates are approximate. Convertible share counts based on current price. Review SEC filings for exact terms.
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Sign in to continue- ▸$100M primary shelf registration (filed not yet effective) — 9x current market cap
- ▸19,000,000-share resale registration (filed not yet effective) — ~333% of current quoted float
- ▸Massive recent share count expansion (~60M shares issued between March-April 2026)
Market Data
$0.03
$2.46M
82.00M
65.70M
107.60M