Less than six months of cash at the latest burn — the company must raise, cut, or both, soon.
Radar 58 (elevated attention) · dilution pressure elevated · listing risk low · governance risk elevated · runway 1.6 mo · strongest signal: Runway < 6 months (Jun 30, 2026)
Direction is stated for existing shareholders (▼ more shares / survival or listing risk; ▲ insiders or holders buying). It is a characterization of the filings, not a forecast or a recommendation.
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Runway = liquidity ÷ monthly operating burn at the latest reported period · balance sheet 47 days old. A financing after the balance-sheet date is the main reason a figure can be stale — check the timeline below for offerings since then.
Last 30 days of filing signals plus current balance-sheet flags, newest first. ▼ pressure · ▲ support · hover a score for its components; every row links to the filing.
| Date | Signal | Evidence | Score |
|---|---|---|---|
| Aug 14, 2026 | ▼ Going-concern language | “going concern periodic” language in 10-Q (10-Q) filed 2026-08-14 filing | 33 |
| Aug 12, 2026 | ▼ Going concern in 8-K | “going concern 8k” language in 8-K (EX-99.1) filed 2026-08-12 filing | 31 |
| Jul 31, 2026 | · Officer/director change | 8-K Item 5.02 filed 2026-07-31 (accepted 16:02 ET) filing | 25 |
| Jun 30, 2026 | ▼ Runway < 6 months | ~1.6 months runway: liquidity $520,000 as of 2026-06-30, burn $3,921,722/yr (annualized 180-day YTD operating cash flow [companyfacts]) filing | 47 |
| Jun 30, 2026 | ▼ Near $5M MVLS floor | Public float $6,500,000 (as of 2025-06-30) vs $5M Nasdaq MVLS floor; needs price x shares confirmation filing | 24 |
| Jun 30, 2026 | ▼ Cash < current liabilities | Liquidity $520,000 vs current liabilities $32,112,000 filing | 21 |