Variable-priced paper is outstanding while the listing is under stress — the structure where dilution can accelerate. Watch the share count each quarter.
Radar 86 (high attention) · dilution pressure high · listing risk elevated · governance risk elevated · runway 0.0 mo · strongest signal: Late filing (NT) (Aug 14, 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 | ▼ Material agreement terminated | 8-K Item 1.02 filed 2026-08-14 (accepted 13:00 ET) filing | 35 |
| Aug 10, 2026 | ▼ Unregistered sale | 8-K Item 3.02 filed 2026-08-10 (accepted 17:01 ET) filing | 32 |
| Aug 3, 2026 | ▼ ATM program | “atm” language in S-3 (S-3) filed 2026-08-03 filing | 34 |
| Aug 3, 2026 | ▼ Shelf filed | S-3 filed 2026-08-03 filing | 30 |
| Jul 23, 2026 | ▼ Offering (424B) | 424B3 prospectus supplement 2026-07-23; 2 prior 424B filings in 12m filing | 27 |
| Jul 23, 2026 | ▼ Reverse split | “reverse split” language in DEF 14A (DEF 14A) filed 2026-07-23 filing | 27 |
| Jul 22, 2026 | ▼ Shelf effective | EFFECT notice 2026-07-22 filing | 21 |
| Jul 21, 2026 | ▼ Equity line | “equity line” language in 8-K (8-K) filed 2026-07-21 filing | 45 |
| Jul 21, 2026 | ▼ Convertible note | “convertible note” language in 8-K (8-K) filed 2026-07-21 filing | 39 |
| Jul 21, 2026 | ▼ PIPE | “pipe” language in 8-K (8-K) filed 2026-07-21 filing | 33 |
| Jul 21, 2026 | ▼ Unregistered sale | 8-K Item 3.02 filed 2026-07-21 (accepted 06:09 ET) filing | 32 |
| Jul 21, 2026 | ▼ Reverse split | “reverse split” language in 8-K (EX-4.1) filed 2026-07-21 filing | 32 |
| Jul 21, 2026 | ▼ Delisting language | “delisting notice” language in 8-K (EX-10.1) filed 2026-07-21 filing | 32 |
| Jul 21, 2026 | ▼ New debt obligation | 8-K Item 2.03 filed 2026-07-21 (accepted 06:09 ET) filing | 29 |
| Mar 31, 2026 | ▼ Runway < 6 months | ~0.0 months runway: liquidity $15,723 as of 2026-03-31, burn $17,727,243/yr (annualized 181-day YTD operating cash flow [companyfacts]) filing | 46 |
| Mar 31, 2026 | ▼ Share count +25% | Shares outstanding 19,591,163 (2026-02-17) -> 25,387,727 (2026-05-20), +30% filing | 34 |
VIVS VivoSim Labs, INC. · DAIC CID Holdco, Inc. · HCWB HCW Biologics Inc. · POLA Polar Power, Inc. · CYCU Cycurion, Inc. · BIAF bioAffinity Technologies, In · screener →