Dilution profile // every instrument, one screen, from SEC filings

AZIO AI HOLDINGS, INC. (AZIO)

CIK 1563568 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$1019M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
LOWwarrants = 11% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-14% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
HIGH~0.2 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

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

2020-11-102026-05-18

Latest: 12.9M shares as of May 18, 2026 (10-Q). Share count fell from 299.9M to 15.0M between May 13, 2022 and Aug 15, 2022, a pattern consistent with a reverse split (roughly 1-for-20); 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

Warrants

TrancheWarrantsExercise priceTermNotes
Warrant Three1.3M$0.01
First Closing Buyer Warrants1.3M$0.01
Warrant One95,834$200
Warrants Expiring May7th202695,834not tagged
Warrant Two51,205$16.6
Private Placement Warrants51,205$16.62y

Tranches exactly as the company dimensioned them in its 10-Q filed May 19, 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: 1.4M underlying shares, as reported Mar 31, 2026 (10-Q).

Reported exercise price: $12.79 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $349,042 as of Sep 30, 2016.

Rough fully diluted estimate: 14.4M = 12.9M O/S + 1.4M 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

NotePrincipalCarryingConv. priceRateIf converted
Additional Promissory Note$5.0M$105%~500,000 sh
Promissory Notesnot tagged$21.480%

If every note above converted at its tagged price: ~500,000 new shares on 12.9M 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 19, 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 outstanding12.9MMay 18, 2026
+ Warrant Three (if exercised)1.3MMar 31, 2026
+ First Closing Buyer Warrants (if exercised)1.3MMar 6, 2026
+ Warrant One (if exercised)95,834Mar 31, 2026
+ Warrants Expiring May7th2026 (if exercised)95,834Dec 31, 2025
+ Warrant Two (if exercised)51,205Mar 31, 2026
+ Private Placement Warrants (if exercised)51,205Sep 12, 2024
+ Additional Promissory Note (if fully converted)500,000Feb 24, 2025
Fully diluted estimate16.3M+26.1% 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: $1019.4Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Apr 27, 2026$19.4M registeredfiling →
S-3Aug 6, 2025$1000.0M registeredfiling →
S-1May 22, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 2 executed · 2 registered.

EXECUTEDJul 6, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
UPDATEMay 6, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEMay 5, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDApr 27, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
EXECUTEDMar 9, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EFFECTIVEAug 20, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 18, 2025S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDAug 6, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
UPDATEMay 30, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEMay 29, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMay 22, 2025S-1 registration — capacity to sell shares, not a sale yetS-1
EXECUTEDFeb 25, 2025Unregistered share sale disclosed (8-K item 3.02)8-K

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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