The dilution already happened: share count is up 25%+ versus the prior period.
Radar 49 (elevated attention) · dilution pressure elevated · listing risk low · governance risk low · runway 9.3 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 6, 2026 | ▼ Going-concern language | “going concern periodic” language in 10-Q (10-Q) filed 2026-08-06 filing | 33 |
| Jun 30, 2026 | ▼ Share count +25% | Shares outstanding 5,164,370 (2026-05-11) -> 6,588,101 (2026-08-03), +28% filing | 34 |
| Jun 30, 2026 | ▼ Near $5M MVLS floor | Public float $3,000,000 (as of 2025-06-30) vs $5M Nasdaq MVLS floor; needs price x shares confirmation filing | 29 |
| Jun 30, 2026 | ▼ Runway 6–12 months | ~9.3 months runway: liquidity $12,634,000 as of 2026-06-30, burn $16,262,778/yr (annualized 180-day YTD operating cash flow [companyfacts]) filing | 24 |