The dilution already happened: share count is up 25%+ versus the prior period.
Radar 53 (elevated attention) · dilution pressure elevated · listing risk low · governance risk low · runway 17.8 mo · strongest signal: Share count +25% (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 | 25 |
| Jul 28, 2026 | ▼ Offering (424B) | 424B3 prospectus supplement 2026-07-28; 1 prior 424B filings in 12m filing | 28 |
| Jul 28, 2026 | ▼ Shelf effective | EFFECT notice 2026-07-28 filing | 21 |
| Jul 17, 2026 | ▼ Shelf filed | S-3/A filed 2026-07-17 filing | 30 |
| Jun 30, 2026 | ▼ Share count +25% | Shares outstanding 4,856,079 (2026-05-14) -> 7,003,613 (2026-08-12), +44% filing | 35 |
| Jun 30, 2026 | ▼ Near $5M MVLS floor | Public float $3,893,040 (as of 2025-06-30) vs $5M Nasdaq MVLS floor; needs price x shares confirmation filing | 28 |