QumulusAI, Inc. (QMLS)
CIK 2084026 · all EDGAR filings →
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: 34.8M shares as of Nov 3, 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
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| Type2 Warrants | 967,736 | $8.15 | 2.3y | — |
| Type1 Warrants Prefunded | 961,256 | not tagged | — | — |
| Type1 Warrants | not tagged | $0.03 | — | — |
Tranches exactly as the company dimensioned them in its 10-Q filed Nov 10, 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.
No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.
Convertible notes
| Note | Principal | Carrying | Conv. price | Rate | If converted |
|---|---|---|---|---|---|
| March 2026 Convertible Note | $45.0M | — | $11.5 | 7% | ~3.9M sh |
| June 2026 Convertible Note | $45.0M | — | $24.25 | 7% | ~1.9M sh |
| TCM Convertible Note | $3.9M | — | not tagged | — | — |
| Convertible Balloon Note With Trailhead Income LP | $2.0M | $2.0M | not tagged | 12% | — |
If every note above converted at its tagged price: ~5.8M new shares on 34.8M 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 Nov 10, 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 outstanding | 34.8M | Nov 3, 2026 |
| + Type2 Warrants (if exercised) | 967,736 | Sep 30, 2026 |
| + Type1 Warrants Prefunded (if exercised) | 961,256 | Sep 30, 2026 |
| + March 2026 Convertible Note (if fully converted) | 3.9M | Mar 26, 2026 |
| + June 2026 Convertible Note (if fully converted) | 1.9M | Jun 3, 2026 |
| Fully diluted estimate | 42.5M | +22.1% 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: $350.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted
Last 12 months: 1 executed · 8 registered.
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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