Is VSTD diluting shareholders?

Read three numbers together: shares outstanding over time (11.9M as of 2023-03-29), warrants that can convert into new shares, and how much cash runway remains. 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

Vestand Inc. (VSTD)

CIK 1898604 · all EDGAR filings →

Overall dilution risk

HIGHworst of 2 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

HIGHS-1/A on file 2025-05-19

= is there a registration (S-1/S-3 family) on file without a later withdrawal

no structured fee data on the live registrations, so this is a yes/no, not a size

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

NOT COMPUTEDunder 3 years of share history on file

= share count now vs 3 years ago

Cash need

LOWoperating cash flow positive

= 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

Fewer than two cover-page share counts on file, so there is no history to chart.

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool

Warrants

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

Convertible debt on the balance sheet: $1.2M as of Dec 31, 2024, tagged only as a company-wide total.

Reported conversion price: $5.9 (aggregate figure as tagged; individual notes can vary).

This filer tagged totals without per-note dimensions in its 10-Q filed Aug 20, 2025 →, so per-note terms (maturities, individual conversion prices) live in the exhibit prose and are not parsed here.

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	11.9M	Mar 29, 2023
+ Convertible debt (aggregate carrying / conversion price) (if fully converted)	203,389.831	Dec 31, 2024
Fully diluted estimate	12.1M	+1.7% 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

S-1Apr 30, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

S-1Feb 4, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

S-1Apr 19, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 1 executed · 0 registered.

EXECUTEDMay 28, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDMay 23, 2025Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4 →

EFFECTIVEMay 21, 2025SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDMay 19, 2025S-1/A registration — capacity to sell shares, not a sale yetS-1/A →

REGISTEREDApr 30, 2025S-1 registration — capacity to sell shares, not a sale yetS-1 →

EXECUTEDApr 15, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

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

EXECUTEDMar 25, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDMar 18, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDMar 17, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

REGISTEREDFeb 4, 2025S-1 registration — capacity to sell shares, not a sale yetS-1 →

EXECUTEDJan 13, 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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