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

First Breach, Inc. (FBDT)

CIK 1892704 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 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
HIGH$898M 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 = 3% 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
NOT COMPUTEDunder 3 years of share history on file
= share count now vs 3 years ago
Cash need
MEDIUM~17 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

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

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: 1.8M underlying shares, as reported Dec 15, 2025 (S-1).

Reported exercise price: $8 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 57.6M = 55.8M O/S + 1.8M 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
April Two Thousand Twenty Six Convertible Notes$15.6M$8.8Mnot tagged6%
Senior Secured Convertible Promissory Note$7.7Mnot tagged
Convertible Notes Payable May Eight 2025$340,500$346,549not tagged10%
Convertible Notes Payable August Eight 2025$227,000$209,951not tagged10%
Convertible Notes Payable December Two 2025$45,400$39,590not tagged10%

Notes exactly as the company dimensioned them in its 10-Q filed Aug 28, 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 outstanding55.8MAug 28, 2026
+ Warrants (aggregate, as tagged) (if exercised)1.8MDec 15, 2025
Fully diluted estimate57.6M+3.2% 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: $897.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Sep 2, 2026$36.3M registeredfiling →
S-1Apr 30, 2026$861.5M registeredfiling →

Last 12 months: 3 executed · 6 registered.

EXECUTEDSep 11, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVESep 11, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDSep 2, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
EXECUTEDAug 31, 2026Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EXECUTEDAug 20, 2026Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EFFECTIVEAug 12, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 7, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDAug 3, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDJun 12, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDMay 27, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDApr 30, 2026S-1 registration — capacity to sell shares, not a sale yetS-1

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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