Reverse splits are how companies cure bid-price deficiencies; under 2026 rules they get one per 12 months.
Radar 61 (elevated attention) · dilution pressure high · listing risk low · governance risk elevated · runway 1.1 mo · strongest signal: Runway < 6 months (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 14, 2026 | ▼ Going-concern language | “going concern periodic” language in 10-Q (10-Q) filed 2026-08-14 filing | 33 |
| Aug 3, 2026 | ▼ Reverse split | “reverse split” language in 8-K (EX-10.2) filed 2026-08-03 filing | 32 |
| Aug 3, 2026 | · Officer/director change | 8-K Item 5.02 filed 2026-08-03 (accepted 17:29 ET) filing | 25 |
| Jun 30, 2026 | ▼ Runway < 6 months | ~1.1 months runway: liquidity $1,774,000 as of 2026-06-30, burn $18,570,389/yr (annualized 180-day YTD operating cash flow [companyfacts]) filing | 48 |
| Jun 30, 2026 | ▼ Share count +25% | Shares outstanding 13,894,600 (2026-05-20) -> 20,118,023 (2026-08-13), +45% filing | 35 |
| Jun 30, 2026 | ▼ Negative equity | Stockholders' equity $-3,815,000 as of 2026-06-30 filing | 31 |
| Jun 30, 2026 | ▼ Cash < current liabilities | Liquidity $1,774,000 vs current liabilities $20,389,000 filing | 21 |