Is ENRT diluting shareholders?

Read three numbers together: shares outstanding over time (10.3M as of 2026-07-10), warrants that can convert into new shares (614,000 reported), and how much cash runway remains (~2.2036092922691366 months). 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

Enertopia Corp. (ENRT)

CIK 1346022 · 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

HIGHS-1 on file 2021-04-26

= 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

LOWwarrants = 6% 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-93% 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~2.2 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

Latest: 10.3M shares as of Jul 10, 2026 (10-Q). Share count fell from 155.2M to 7.8M between Jan 9, 2025 and Apr 11, 2025, 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

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: 614,000 underlying shares, as reported Aug 31, 2025 (10-K).

Reported exercise price: $0.1 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $614,000 as of Nov 30, 2025.

Rough fully diluted estimate: 11.0M = 10.3M O/S + 614,000 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 Jul 10, 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.

Registrations and offerings

Last 12 months: 1 executed · 0 registered.

EXECUTEDFeb 25, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →

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

EXECUTEDJun 9, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDAug 19, 2022Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDMar 3, 2022Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDFeb 28, 2022Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDDec 21, 2021Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDDec 10, 2021Unregistered share sale disclosed (8-K item 3.02)8-K →

UPDATEMay 18, 2021Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEMay 17, 2021SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDApr 26, 2021S-1 registration — capacity to sell shares, not a sale yetS-1 →

EXECUTEDMar 10, 2021Unregistered 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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