Less than six months of cash at the latest burn — the company must raise, cut, or both, soon.
Radar 63 (elevated attention) · dilution pressure elevated · listing risk low · governance risk high · runway 5.8 mo · strongest signal: Departure cluster (Aug 11, 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 11, 2026 | ▼ Departure cluster | 3 Item 5.02 8-Ks in 90 days (latest 2026-08-11) filing | 60 |
| Aug 11, 2026 | ▼ Going-concern language | “going concern periodic” language in 10-Q (10-Q) filed 2026-08-11 filing | 25 |
| Aug 11, 2026 | · Officer/director change | 8-K Item 5.02 filed 2026-08-11 (accepted 17:00 ET) filing | 22 |
| Aug 4, 2026 | · Form 4 burst | 12 Form 4 filings in 30 days filing | 17 |
| Jun 30, 2026 | ▼ Runway < 6 months | ~5.8 months runway: liquidity $6,900,000 (cash $6,864,378 + investments $35,622) as of 2026-06-30, burn $14,216,004/yr (annualized 180-day YTD operating cash flow [companyfacts]) filing | 36 |
| Jun 30, 2026 | ▼ Share count +25% | Shares outstanding 4,202,118 (2026-05-11) -> 5,611,403 (2026-08-10), +34% filing | 34 |