Reverse splits are how companies cure bid-price deficiencies; under 2026 rules they get one per 12 months.
Radar 63 (elevated attention) · dilution pressure high · listing risk elevated · governance risk elevated · runway 3.7 mo · strongest signal: Late filing (NT) (Aug 14, 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 138 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 | ▼ Late filing (NT) | NT 10-Q filed 2026-08-14 filing | 49 |
| Aug 3, 2026 | ▼ Reverse split | “reverse split” language in DEF 14A (DEF 14A) filed 2026-08-03 filing | 27 |
| Jul 27, 2026 | ▼ Offering (424B) | 424B3 prospectus supplement 2026-07-27; 1 prior 424B filings in 12m filing | 28 |
| Jul 27, 2026 | ▼ Offering (424B) | 424B3 prospectus supplement 2026-07-27; 1 prior 424B filings in 12m filing | 28 |
| Jul 24, 2026 | ▼ Shelf filed | S-1/A filed 2026-07-24 filing | 30 |
| Jul 24, 2026 | ▼ Reverse split | “reverse split” language in PRE 14A (PRE 14A) filed 2026-07-24 filing | 27 |
| Jul 24, 2026 | ▼ Shelf effective | EFFECT notice 2026-07-24 filing | 21 |
| Jul 24, 2026 | ▼ Shelf effective | EFFECT notice 2026-07-24 filing | 21 |
| 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 | 37 |
| 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 | 21 |