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

Capstone Energy Plus, Inc. (CEPL)

CIK 1009759 · 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$732M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
LOWwarrants = 0% 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
MEDIUM+43% 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
LOW~133.7 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

2017-08-042024-06-10

Latest: 18.5M shares as of Jun 10, 2024 (10-K). Share count fell from 342.4M to 20.9M between Oct 30, 2015 and Jan 29, 2016, a pattern consistent with a reverse split (roughly 1-for-16); 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

TrancheWarrantsExercise priceTermNotes
Common Stock Warrants Equity Pre Funded Warrants3.8Mnot tagged——
Common Stock Warrants Equity Pre Funded Warrants November20253.5M$0.001——
Common Stock Warrants Equity Pre Funded Warrants March2026300,000not tagged——
Registration Rights Agreement Liability Registration Rightsnot taggednot tagged—FV $0

Tranches exactly as the company dimensioned them in its 10-K filed Jun 25, 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 Sep 30, 2025 (10-Q).

Reported exercise price: $0.001 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $5.5M as of May 7, 2009.

Rough fully diluted estimate: 18.5M = 18.5M 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

No convertible-note facts tagged in the 10-K filed Jun 25, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Registrations and offerings

Registered offering capacity on live registrations: $732.4Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Jul 7, 2026$500.0M registeredfiling →
S-3Apr 28, 2026$196.1M registeredfiling →
S-1Dec 23, 2025$36.3M registeredfiling →

Last 12 months: 3 executed · 4 registered.

EXECUTEDAug 7, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EFFECTIVEAug 6, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDJul 24, 2026S-3/A registration — capacity to sell shares, not a sale yetS-3/A →
REGISTEREDJul 7, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
UPDATEMay 6, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEMay 4, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDApr 28, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
EXECUTEDMar 30, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
UPDATEJan 6, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEJan 2, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDDec 23, 2025S-1 registration — capacity to sell shares, not a sale yetS-1 →
EXECUTEDNov 24, 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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