The company can sell stock into the market any day at prevailing prices — steady supply.
Radar 67 (elevated attention) · dilution pressure high · listing risk high · governance risk elevated · runway 3.7 mo · strongest signal: Offering (424B) (Sep 3, 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 21, 2026 | ▼ Reverse split | “reverse split” language in 8-K (8-K) filed 2026-09-21 filing | 40 |
| Sep 21, 2026 | ▼ Holder rights modified | 8-K Item 3.03 filed 2026-09-21 (accepted 16:47 ET) filing | 24 |
| Sep 18, 2026 | ▼ Reverse split | “reverse split” language in PRE 14A (PRE 14A) filed 2026-09-18 filing | 30 |
| Sep 15, 2026 | ▼ Reverse split | “reverse split” language in 8-K (8-K) filed 2026-09-15 filing | 40 |
| Sep 15, 2026 | ▼ PIPE | “pipe” language in 8-K (EX-10.5) filed 2026-09-15 filing | 38 |
| Sep 15, 2026 | ▼ Reverse split | “reverse split” language in 8-K (EX-4.1) filed 2026-09-15 filing | 35 |
| Sep 15, 2026 | ▼ Unregistered sale | 8-K Item 3.02 filed 2026-09-15 (accepted 13:44 ET) filing | 32 |
| Sep 15, 2026 | ▼ Holder rights modified | 8-K Item 3.03 filed 2026-09-15 (accepted 09:10 ET) filing | 26 |
| Sep 3, 2026 | ▼ Offering (424B) | 424B5 prospectus supplement 2026-09-03; 4 prior 424B filings in 12m filing | 49 |
| Sep 3, 2026 | ▼ ATM program | “atm” language in 424B5 (424B5) filed 2026-09-03 filing | 40 |
| Mar 31, 2026 | ▼ Runway < 6 months | ~3.7 months runway: liquidity $7,278,000 as of 2026-03-31, burn $23,686,000/yr (latest fiscal-year operating cash flow (quarter too short to annualize) [companyfacts]) filing | 32 |
| Mar 31, 2026 | ▼ Near $5M MVLS floor | Public float $3,800,000 (as of 2025-06-30) vs $5M Nasdaq MVLS floor; needs price x shares confirmation filing | 28 |
| Mar 31, 2026 | ▼ Cash < current liabilities | Liquidity $7,278,000 vs current liabilities $40,686,000 filing | 22 |