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

Sports Entertainment Gaming Global Corp (LTRYW)

CIK 1673481 · 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$303M 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 = 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
HIGH+796% 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~0.6 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

2020-03-162026-07-07

Latest: 22.8M shares as of Jul 7, 2026 (10-K/A). Share count fell from 50.8M to 2.5M between Jun 15, 2023 and Aug 21, 2023, 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

~1 month of cash left

critical · burning $857,605.25 / quarter

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 68,241 underlying shares, as reported Dec 31, 2025 (10-K).

Reported exercise price: $0.21 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $0 as of Sep 30, 2023.

Rough fully diluted estimate: 22.9M = 22.8M O/S + 68,241 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
Series B Convertible Notes$3.6Mnot tagged8%
Secured Convertible Note$935,000not tagged

Notes exactly as the company dimensioned them in its 10-K filed Jul 10, 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 outstanding22.8MJul 7, 2026
+ Warrants (aggregate, as tagged) (if exercised)68,241Dec 31, 2025
Fully diluted estimate22.9M+0.3% 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: $303.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Nov 13, 2025$303.0M registeredfiling →
S-1Apr 11, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 6 executed · 3 registered.

EXECUTEDJun 3, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMar 18, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 19, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDFeb 9, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 20, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDDec 5, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDNov 26, 2025S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EFFECTIVENov 26, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDNov 25, 2025S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDNov 13, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
REGISTEREDMay 14, 2025S-1/A registration — capacity to sell shares, not a sale yetS-1/A
EFFECTIVEMay 14, 2025SEC 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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