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

Contango Silver & Gold Inc. (CTGO)

CIK 1502377 · 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$27.2M 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 = 2% 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+256% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOWoperating cash flow positive
= 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

2021-02-112026-08-13

Latest: 33.4M shares as of Aug 13, 2026 (10-Q).

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: 678,875 underlying shares, as reported Dec 31, 2025 (10-K).

Reported exercise price: $10 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 34.1M = 33.4M O/S + 678,875 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
Unsecured Convertible Debenture$20.0M$30.59%~655,738 sh

If every note above converted at its tagged price: ~655,738 new shares on 33.4M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Aug 13, 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 outstanding33.4MAug 13, 2026
+ Warrants (aggregate, as tagged) (if exercised)678,875Dec 31, 2025
+ Unsecured Convertible Debenture (if fully converted)655,738Apr 26, 2022
Fully diluted estimate34.8M+4.0% 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: $27.2Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRJun 25, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-3Mar 30, 2026$27.2M registeredfiling →
S-3Nov 15, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 5 executed · 2 registered.

UPDATEJul 1, 2026Resale prospectus — existing holders registering to sell424B7
REGISTEREDJun 25, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
EFFECTIVEApr 14, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMar 30, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDMar 27, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGFeb 11, 2026Free-writing prospectus — offering being marketedFWP
MARKETINGFeb 11, 2026Free-writing prospectus — offering being marketedFWP
EXECUTEDDec 11, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDSep 26, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDSep 25, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVENov 27, 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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