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

DNA X, Inc. (SONM)

CIK 1178697 · 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$232M 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
LOW-96% 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)
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

2021-10-292026-05-14

Latest: 1.5M shares as of May 14, 2026 (10-Q). Share count fell from 17.7M to 1.0M between Aug 1, 2025 and Oct 28, 2025, a pattern consistent with a reverse split (roughly 1-for-17); 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

Warrants outstanding: 29 underlying shares, as reported Mar 31, 2021 (10-Q).

Reported exercise price: $1.3864 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $927,000 as of Sep 30, 2020.

Rough fully diluted estimate: 1.5M = 1.5M O/S + 29 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
DNA Holdings Ventures Incnot tagged$5.510%

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 outstanding1.5MMay 14, 2026
+ Warrants (aggregate, as tagged) (if exercised)29Mar 31, 2021
Fully diluted estimate1.5M+0.0% 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: $231.9Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Sep 29, 2025$220.5M registeredfiling →
S-3Jul 9, 2025$1.1M registeredfiling →
S-1Jun 20, 2025$10.3M registeredfiling →

Last 12 months: 3 executed · 2 registered.

EXECUTEDJul 2, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EFFECTIVEJun 11, 2026SEC declared a registration effective — selling can beginEFFECT
EXECUTEDMay 27, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDDec 18, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
UPDATENov 12, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
REGISTEREDOct 9, 2025S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDSep 29, 2025S-1 registration — capacity to sell shares, not a sale yetS-1
EFFECTIVEJul 18, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJul 9, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EFFECTIVEJul 2, 2025SEC declared a registration effective — selling can beginEFFECT
EXECUTEDJul 1, 2025Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EFFECTIVEJun 30, 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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