Variable-priced paper is outstanding while the listing is under stress — the structure where dilution can accelerate. Watch the share count each quarter.
Radar 87 (high attention) · dilution pressure high · listing risk elevated · governance risk elevated · runway 2.9 mo · strongest signal: Equity line (Aug 12, 2026)
What would confirm: Rising share count in 10-Q cover vs prior quarter; repeated 424B3 resales; another reverse split proposal.
What would prove it wrong: Notes repaid in cash / equity line terminated (8-K 1.02); share count flat quarter over quarter.
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.
Independent filings stitched into a thesis, each with what would confirm and what would prove it wrong.
Variable-priced paper is outstanding while the listing is under stress — the structure where dilution can accelerate. Watch the share count each quarter. Discount-priced or variable-priced securities are outstanding while the company is managing its listing with reverse splits/notices. Each conversion lowers the price, which lowers the next conversion price.
No note yet. Notes are written each morning for the top-ranked setups; Pro subscribers get them in full the same day.
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 14, 2026 | ▼ Reverse split | “reverse split” language in 8-K (8-K) filed 2026-08-14 filing | 32 |
| Aug 12, 2026 | ▼ Equity line | “equity line” language in 8-K (EX-10.1) filed 2026-08-12 filing | 51 |
| Aug 12, 2026 | ▼ Convertible note | “convertible note” language in 8-K (EX-10.1) filed 2026-08-12 filing | 45 |
| Aug 12, 2026 | ▼ ATM program | “atm” language in 8-K (EX-10.1) filed 2026-08-12 filing | 44 |
| Aug 12, 2026 | ▼ Delisting language | “delisting notice” language in 8-K (EX-10.1) filed 2026-08-12 filing | 32 |
| Aug 10, 2026 | ▼ ATM program | “atm” language in S-3 (S-3) filed 2026-08-10 filing | 34 |
| Aug 10, 2026 | ▼ Shelf filed | S-3 filed 2026-08-10 filing | 30 |
| Jul 24, 2026 | ▼ Reverse split | “reverse split” language in DEF 14A (DEF 14A) filed 2026-07-24 filing | 27 |
| Mar 31, 2026 | ▼ Runway < 6 months | ~2.9 months runway: liquidity $2,235,000 as of 2026-03-31, burn $9,372,000/yr (latest fiscal-year operating cash flow (quarter too short to annualize) [companyfacts]) filing | 39 |
| Mar 31, 2026 | ▼ Share count +25% | Shares outstanding 3,700,908 (2026-04-15) -> 6,091,840 (2026-05-18), +65% filing | 36 |
| Mar 31, 2026 | ▼ Near $5M MVLS floor | Public float $7,300,000 (as of 2025-06-30) vs $5M Nasdaq MVLS floor; needs price x shares confirmation filing | 23 |
| Mar 31, 2026 | ▼ Cash < current liabilities | Liquidity $2,235,000 vs current liabilities $6,865,000 filing | 21 |
VIVS VivoSim Labs, INC. · DAIC CID Holdco, Inc. · HCWB HCW Biologics Inc. · POLA Polar Power, Inc. · CYCU Cycurion, Inc. · BIAF bioAffinity Technologies, In · screener →