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

GCL Global Holdings Ltd (GCL)

CIK 2002045 · 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$47.8M 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 = 13% 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+5% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOW~41.8 months of runway
= 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

2025-03-312026-03-31

Latest: 128.0M shares as of Mar 31, 2026 (20-F).

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool

Warrants

Warrants outstanding: 16.5M underlying shares, as reported Mar 31, 2026 (20-F).

Reported exercise price: $0.01 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 144.5M = 128.0M O/S + 16.5M 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

The latest 10-Q/10-K instance document could not be checked just now, so nothing is shown rather than guessed. Try again shortly.

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 outstanding128.0MMar 31, 2026
+ Warrants (aggregate, as tagged) (if exercised)16.5MMar 31, 2026
Fully diluted estimate144.5M+12.9% 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: $47.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

F-1Sep 4, 2025$47.8M registeredfiling →
F-1Apr 3, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 2 registered.

UPDATEJun 10, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEJun 9, 2026SEC declared a registration effective — selling can beginEFFECT →
UPDATEMay 19, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMay 18, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEMay 18, 2026SEC declared a registration effective — selling can beginEFFECT →
UPDATEApr 30, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEApr 30, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMar 30, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMar 30, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMar 23, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMar 23, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEJan 30, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →

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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