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

Hadron Energy, Inc. (HDRNW)

CIK 2023730 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGH$496M 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
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
HIGH+257% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
HIGH~0.6 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

2024-11-042026-08-10

Latest: 71.5M shares as of Aug 10, 2026 (10-Q).

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
Public Warrants20.0M$11.5
Hadron Private Warrants5.0M$125yFV $6.0M
Private Placement Warrants3.7M$11.55yFV $1.4M

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 12, 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.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-Q filed Aug 12, 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.

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 outstanding71.5MAug 10, 2026
+ Public Warrants (if exercised)20.0MJun 30, 2026
+ Hadron Private Warrants (if exercised)5.0MJun 15, 2026
+ Private Placement Warrants (if exercised)3.7MJun 15, 2026
Fully diluted estimate100.2M+40.2% 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: $496.5Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Jun 15, 2026$496.5M registeredfiling →
S-1Jun 7, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 1 executed · 1 registered.

UPDATEAug 10, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATEJun 25, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEJun 25, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJun 15, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
UPDATEApr 15, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEApr 15, 2026SEC declared a registration effective — selling can beginEFFECT
EXECUTEDFeb 4, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDSep 3, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDAug 29, 2024Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EFFECTIVEAug 28, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 26, 2024S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDAug 22, 2024S-1/A registration — capacity to sell shares, not a sale yetS-1/A

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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