Is IPW diluting shareholders?

Read three numbers together: shares outstanding over time (5.3M as of 2026-05-20), warrants that can convert into new shares (685,715 reported), and how much cash runway remains (~14.78662331854824 months). A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

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

iPower Inc. (IPW)

CIK 1830072 · 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$74.8M 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 = 13% 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-82% 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

MEDIUM~14.8 months of runway

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

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: 5.3M shares as of May 20, 2026 (10-Q). Share count fell from 31.5M to 1.0M between Oct 9, 2025 and Nov 14, 2025, a pattern consistent with a reverse split (roughly 1-for-30); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Funded — but tight

~15 months of cash · watch

Full breakdown: cash runway tool

Warrants

Warrants outstanding: 685,715 underlying shares, as reported Mar 31, 2022 (10-Q).

Reported exercise price: $5 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 6.0M = 5.3M O/S + 685,715 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
Convertible Note Facility	$7.0M	$6.7M	not tagged	10%	—

Notes exactly as the company dimensioned them in its 10-Q filed May 20, 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	5.3M	May 20, 2026
+ Warrants (aggregate, as tagged) (if exercised)	685,715	Mar 31, 2022
Fully diluted estimate	6.0M	+13.0% 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: $74.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Jul 10, 2026$42.1M registeredfiling →

S-1Jan 12, 2026$32.8M registeredfiling →

S-1Jul 9, 2024no fee data found in the structured exhibitsfiling →

Last 12 months: 2 executed · 4 registered.

REGISTEREDJul 10, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →

REGISTEREDApr 17, 2026S-1MEF registration — capacity to sell shares, not a sale yetS-1MEF →

UPDATEJan 21, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEJan 20, 2026SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDJan 16, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A →

REGISTEREDJan 12, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →

EXECUTEDDec 23, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDDec 23, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

UPDATENov 14, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATESep 20, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEJul 26, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEJul 26, 2024SEC declared a registration effective — selling can beginEFFECT →

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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