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 low · runway 2.0 mo · strongest signal: Convertible note (Sep 4, 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.
No note yet. Notes are written each morning for the top-ranked setups; Pro subscribers get them in full the same day.
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 21, 2026 | · Form 4 burst | 14 Form 4 filings in 30 days filing | 18 |
| Sep 15, 2026 | · 13D amendment | Schedule 13D/A filed 2026-09-15 filing | 24 |
| Sep 9, 2026 | · 13D amendment | Schedule 13D/A filed 2026-09-09 filing | 24 |
| Sep 4, 2026 | ▼ Convertible note | “convertible note” language in 8-K (EX-99.1) filed 2026-09-04 filing | 42 |
| Sep 2, 2026 | · 13D amendment | Schedule 13D/A filed 2026-09-02 filing | 24 |
| Aug 31, 2026 | · 13D amendment | Schedule 13D/A filed 2026-08-31 filing | 24 |
| Aug 31, 2026 | · 13D amendment | Schedule 13D/A filed 2026-08-31 filing | 24 |
| Mar 31, 2026 | ▼ Runway < 6 months | ~2.0 months runway: liquidity $10,548,000 as of 2026-03-31, burn $62,516,000/yr (latest fiscal-year operating cash flow (quarter too short to annualize) [companyfacts]) filing | 35 |
| Mar 31, 2026 | ▼ Cash < current liabilities | Liquidity $10,548,000 vs current liabilities $196,048,000 filing | 22 |