Every signal type the engine detects, its direction for existing holders, what it means, its importance prior and how common it was across the universe in the last 30 days (the base rate that feeds novelty). Detection is deterministic; nothing here is written by a model. How scores combine →
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
| Equity line equity_line | Pressure ▼ | Committed purchase agreement / ELOC: dilution on demand, usually at a discount. | 0.80 | 67 4.9% of universe |
| ATM program atm_program | Pressure ▼ | At-the-market program: continuous selling into the market at prevailing prices. | 0.75 | 233 17.0% of universe |
| Offering (424B) takedown | Pressure ▼ | Prospectus supplement filed: shares are actually being sold. | 0.70 | 187 13.6% of universe |
| Warrant inducement warrant_inducement | Pressure ▼ | Warrants repriced/induced to exercise: cheap shares for immediate cash. | 0.70 | 15 1.1% of universe |
| Convertible note convertible_note | Pressure ▼ | Convertible note with a conversion-price mechanism (variable-price paper). | 0.70 | 56 4.1% of universe |
| PIPE pipe | Pressure ▼ | Private placement, typically with warrants: overhang and discount. | 0.60 | 90 6.6% of universe |
| Registered direct registered_direct | Pressure ▼ | Registered direct offering to selected investors. | 0.60 | 39 2.8% of universe |
| Unregistered sale unregistered_sale | Pressure ▼ | 8-K Item 3.02: unregistered sale of equity. | 0.55 | 139 10.1% of universe |
| Shelf filed shelf_filed | Pressure ▼ | S-3/S-1/F-3/F-1 registration filed: the company created capacity to sell stock. | 0.50 | 108 7.9% of universe |
| New debt obligation financial_obligation | Pressure ▼ | 8-K Item 2.03: new direct financial obligation. | 0.45 | 69 5.0% of universe |
| Shelf effective shelf_effective | Pressure ▼ | Registration declared effective: the capacity to sell stock is now usable. | 0.35 | 87 6.3% of universe |
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
| MVLS deficiency mvls | Pressure ▼ | Market Value of Listed Securities deficiency (Nasdaq $5M floor; no cure period from Sept 2026). | 0.90 | 24 1.7% of universe |
| Hearings panel hearings_panel | Pressure ▼ | Nasdaq Hearings Panel referenced: a delisting appeal is in progress. | 0.85 | 40 2.9% of universe |
| Exchange deficiency notice listing_notice | Pressure ▼ | 8-K Item 3.01: exchange deficiency or delisting notice. | 0.80 | 74 5.4% of universe |
| Equity deficiency equity_deficiency | Pressure ▼ | Stockholders' equity requirement ($2.5M) deficiency language. | 0.75 | 18 1.3% of universe |
| Minimum bid deficiency min_bid | Pressure ▼ | Minimum bid price ($1) deficiency language. | 0.70 | 83 6.0% of universe |
| Delisting language delisting_language | Pressure ▼ | Delisting language in an 8-K. | 0.70 | 151 11.0% of universe |
| Reverse split reverse_split | Pressure ▼ | Reverse stock split referenced (2026 rules: one per 12 months, 200:1 cap, $0.10 auto-delist). | 0.65 | 318 23.2% of universe |
| Near $5M MVLS floor mvls_proximity | Pressure ▼ | Public float below/near Nasdaq's $5M MVLS floor (proxy; needs price confirmation). | 0.60 | 194 14.1% of universe |
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
| New going-concern flag going_concern_new | Pressure ▼ | FIRST going-concern language in 12 months (ASC 205-40 note language; no prior-year hits). | 0.85 | 9 0.7% of universe |
| Going-concern language going_concern | Pressure ▼ | 'Substantial doubt' language in a periodic report. | 0.70 | 439 32.0% of universe |
| Going concern in 8-K going_concern_8k | Pressure ▼ | 'Substantial doubt' language in an 8-K. | 0.55 | 40 2.9% of universe |
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
| Bankruptcy bankruptcy | Pressure ▼ | 8-K Item 1.03: bankruptcy or receivership. | 1.00 | 0 0.0% of universe |
| Restatement (non-reliance) non_reliance | Pressure ▼ | 8-K Item 4.02: prior financials should no longer be relied on. | 0.90 | 16 1.2% of universe |
| Default / acceleration default_trigger | Pressure ▼ | 8-K Item 2.04: triggering event or acceleration of an obligation. | 0.85 | 4 0.3% of universe |
| Auditor change auditor_change | Pressure ▼ | 8-K Item 4.01: change in auditor. | 0.80 | 12 0.9% of universe |
| Departure cluster departure_cluster | Pressure ▼ | Three or more officer/director change 8-Ks within 90 days. | 0.80 | 30 2.2% of universe |
| Late filing (NT) late_filing | Pressure ▼ | NT 10-K / NT 10-Q late-filing notice. | 0.65 | 40 2.9% of universe |
| Change in control control_change | Context · | 8-K Item 5.01: change in control. | 0.55 | 11 0.8% of universe |
| Material agreement terminated agreement_terminated | Pressure ▼ | 8-K Item 1.02: termination of a material agreement. | 0.45 | 30 2.2% of universe |
| Officer/director change officer_departure | Context · | 8-K Item 5.02: officer or director departure/appointment. | 0.40 | 242 17.6% of universe |
| Holder rights modified rights_modified | Pressure ▼ | 8-K Item 3.03: material modification of security-holder rights. | 0.40 | 50 3.6% of universe |
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
| Insider selling before raise insider_sell_before_raise | Pressure ▼ | Insider open-market sales shortly before a financing filing. | 0.75 | 11 0.8% of universe |
| Insider buying cluster insider_buy_cluster | Support ▲ | Two or more insiders (or three+ open-market buys) purchasing within 30 days. | 0.65 | 21 1.5% of universe |
| New 13D filer activist_13d | Support ▲ | Schedule 13D: an active holder crossed 5%. | 0.60 | 24 1.7% of universe |
| Insider selling cluster insider_sell_cluster | Pressure ▼ | Multiple insiders selling within 30 days. | 0.55 | 24 1.7% of universe |
| 10% holder buying ten_pct_holder_buying | Support ▲ | A 10% holder bought in the open market. | 0.55 | 19 1.4% of universe |
| 13D amendment activist_13d_amend | Context · | Schedule 13D/A amendment. | 0.40 | 112 8.2% of universe |
| Insider open-market buy insider_buy | Support ▲ | Open-market purchase (Form 4 code P) by an insider. | 0.40 | 15 1.1% of universe |
| Form 4 burst insider_activity | Context · | Burst of Form 4 filings. | 0.30 | 137 10.0% of universe |
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
| Runway < 6 months runway_critical | Pressure ▼ | Estimated cash runway under 6 months at the latest reported burn. | 0.80 | 257 18.7% of universe |
| Share count +25% share_count_jump | Pressure ▼ | Cover-page share count up 25%+ vs the prior period: dilution already happened. | 0.60 | 158 11.5% of universe |
| Runway 6–12 months runway_short | Pressure ▼ | Estimated cash runway between 6 and 12 months. | 0.50 | 138 10.1% of universe |
| Negative equity negative_equity | Pressure ▼ | Negative stockholders' equity (Nasdaq $2.5M equity standard at risk). | 0.50 | 189 13.8% of universe |
| Cash < current liabilities cash_below_current_liabilities | Pressure ▼ | Cash and short-term investments below current liabilities. | 0.40 | 222 16.2% of universe |
| Signal | Direction | What it means | Importance | Last 30 days |
|---|---|---|---|---|
after_hours_8k | Pressure ▼ | 8-K accepted after 5:30pm ET (classic bad-news timing). | 0.10 | 0 0.0% of universe |