Reverse splits are how companies cure bid-price deficiencies; under 2026 rules they get one per 12 months.
Radar 54 (elevated attention) · dilution pressure high · listing risk elevated · governance risk low · runway 0.9 mo · strongest signal: Runway < 6 months (Mar 31, 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 175 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 |
|---|---|---|---|
| Sep 18, 2026 | ▼ Reverse split | “reverse split” language in PRE 14A (PRE 14A) filed 2026-09-18 filing | 30 |
| Aug 28, 2026 | ▼ Unregistered sale | 8-K Item 3.02 filed 2026-08-28 (accepted 16:33 ET) filing | 35 |
| Aug 28, 2026 | ▼ Offering (424B) | 424B3 prospectus supplement 2026-08-28; 5 prior 424B filings in 12m filing | 29 |
| Aug 26, 2026 | ▼ Reverse split | “reverse split” language in 8-K (EX-10.1) filed 2026-08-26 filing | 35 |
| Aug 24, 2026 | ▼ Shelf effective | EFFECT notice 2026-08-24 filing | 21 |
| Mar 31, 2026 | ▼ Runway < 6 months | ~0.9 months runway: liquidity $381,195 as of 2026-03-31, burn $4,820,018/yr (latest fiscal-year operating cash flow (quarter too short to annualize) [companyfacts]) filing | 37 |
| Mar 31, 2026 | ▼ Negative equity | Stockholders' equity $-16,203,282 as of 2026-03-31 filing | 31 |
| Mar 31, 2026 | ▼ Near $5M MVLS floor | Public float $6,454,754 (as of 2025-06-30) vs $5M Nasdaq MVLS floor; needs price x shares confirmation filing | 24 |
| Mar 31, 2026 | ▼ Cash < current liabilities | Liquidity $381,195 vs current liabilities $16,972,378 filing | 22 |