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

Worksport Ltd (WKSP)

CIK 1096275 · 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$38.5M 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
MEDIUMwarrants = 48% 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-12% 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~0.8 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

2020-11-162026-08-11

Latest: 15.3M shares as of Aug 11, 2026 (10-Q). Share count fell from 210.7M to 11.5M between May 24, 2021 and Aug 16, 2021, a pattern consistent with a reverse split (roughly 1-for-18); 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

TrancheWarrantsExercise priceTermNotes
Warrant Expiring June1220313.8M$34.9y
Warrant Expriring June132028 To October2420283.1M$4.52y
December2025 Inducement Warrant Shares2.2M$2.9FV $4.5M
May2024 Shareholder Warrant Shares1.3M$5.1985.5y
February2025 Inducement Warrant Shares1.3M$0.5198FV $7.6M
Private Sale Warrants Share770,026$7.45.5y
Exercisable Warrant and Prefunded Warrants770,026not tagged
First Agreement Warrants Cashless291,667not tagged
First Agreement Warrants208,333$1.55y
Warrant Expiring September212029190,000$43.2y
September2025 Inducement Warrant Shares100,000$4
Common Stock Warrant Shares100,000$5

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 11, 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.

Warrants outstanding: 7.3M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $4.5 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $37,000 as of Dec 31, 2021.

Rough fully diluted estimate: 22.6M = 15.3M O/S + 7.3M 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

No convertible-note facts tagged in the 10-Q filed Aug 11, 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 outstanding15.3MAug 11, 2026
+ Warrant Expiring June122031 (if exercised)3.8MJun 30, 2026
+ Warrant Expriring June132028 To October242028 (if exercised)3.1MJun 30, 2026
+ December2025 Inducement Warrant Shares (if exercised)2.2MDec 11, 2025
+ May2024 Shareholder Warrant Shares (if exercised)1.3MJun 30, 2025
+ February2025 Inducement Warrant Shares (if exercised)1.3MFeb 27, 2025
+ Private Sale Warrants Share (if exercised)770,026Mar 20, 2024
+ Exercisable Warrant and Prefunded Warrants (if exercised)770,026Dec 31, 2024
+ First Agreement Warrants Cashless (if exercised)291,667Jun 17, 2026
+ First Agreement Warrants (if exercised)208,333Jun 17, 2026
+ Warrant Expiring September212029 (if exercised)190,000Jun 30, 2026
+ September2025 Inducement Warrant Shares (if exercised)100,000Sep 2, 2025
+ Common Stock Warrant Shares (if exercised)100,000Sep 2, 2025
Fully diluted estimate29.4M+92.4% 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: $38.5Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Jan 20, 2026$8.5M registeredfiling →
S-3Nov 14, 2025$30.0M registeredfiling →
S-1Mar 28, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 7 executed · 2 registered.

EXECUTEDAug 7, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 18, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 18, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 9, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDApr 14, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EFFECTIVEJan 28, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJan 20, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EFFECTIVEDec 12, 2025SEC declared a registration effective — selling can beginEFFECT
EXECUTEDDec 11, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDNov 14, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDSep 5, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 18, 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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