AI Financial Corp (AIFC)
CIK 862861 · all EDGAR filings →
Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.
Shares outstanding over time
Latest: 139.8M shares as of May 12, 2026 (10-Q). Share count fell from 8.5M to 1.7M between Dec 29, 2018 and May 10, 2019, a pattern consistent with a reverse split (roughly 1-for-5); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.
Cash runway
Going-concern warning
auditor flagged substantial doubt
The company itself flagged going-concern doubt in a filing.
Full breakdown: cash runway tool · source filing →
Warrants
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| Pre Funded Warrants | 99.0M | $7.5 | — | — |
| Lead Investor Warrants | 8.0M | $7.5 | — | — |
| Big Warrant | 400,000 | $1.71 | — | — |
| Warrant | 90,909 | not tagged | — | — |
| Small Warrant | 22,727 | $1.71 | — | — |
| Placement Agent Warrants | not tagged | $8.25 | — | — |
| Set One Warrants | not tagged | $0.001 | — | FV $15.0M |
| Set Two Warrants | not tagged | $0.001 | — | FV $16.0M |
Tranches exactly as the company dimensioned them in its 10-Q filed May 18, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.
Warrants outstanding: 0 underlying shares, as reported Jan 1, 2022 (10-K).
Reported exercise price: $3.4 (aggregate figure as tagged; individual tranches vary).
Balance-sheet fair value of warrants: $24,000 as of Sep 27, 2014.
Rough fully diluted estimate: 139.8M = 139.8M O/S + 0 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.
Convertible notes
| Note | Principal | Carrying | Conv. price | Rate | If converted |
|---|---|---|---|---|---|
| Non Convertible Debenture Big Debenture | $1.8M | $1.3M | not tagged | — | — |
| ICG Note | $1.2M | $0 | $0.61 | — | ~2.0M sh |
| Non Convertible Debenture Small Debenture | $404,454 | $288,864 | not tagged | — | — |
| Non Convertible Debenture Big and Small Debenture | not tagged | $0 | not tagged | 3%-4% | — |
If every note above converted at its tagged price: ~2.0M new shares on 139.8M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.
Notes exactly as the company dimensioned them in its 10-Q filed May 18, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.
Fully diluted build-up
Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.
| Shares outstanding | 139.8M | May 12, 2026 |
| + Pre Funded Warrants (if exercised) | 99.0M | Aug 12, 2025 |
| + Lead Investor Warrants (if exercised) | 8.0M | Aug 12, 2025 |
| + Big Warrant (if exercised) | 400,000 | Aug 20, 2024 |
| + Warrant (if exercised) | 90,909 | Aug 20, 2024 |
| + Small Warrant (if exercised) | 22,727 | Aug 20, 2024 |
| + ICG Note (if fully converted) | 2.0M | Dec 27, 2025 |
| Fully diluted estimate | 249.3M | +78.3% vs O/S |
Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.
Registrations and offerings
Registered offering capacity on live registrations: $2000.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted
Last 12 months: 6 executed · 0 registered.
Full history and shelf status: offering checker · S-3 shelf checker
Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.
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