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

Flyte Aviation, Inc. (VJET)

CIK 1716621 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$64.7M 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 = 8% 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+105% 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~2.7 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

2020-11-112026-08-10

Latest: 14.4M shares as of Aug 10, 2026 (10-Q).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2026-08-10
HowThe newest cover-page count as filed. It is used as the current count only while it is no more than about 15 months older than the company’s newest periodic filing; the float checker applies a 200-day rule and sets it beside the balance-sheet count.
Open the source document →
Share count fell from 54.5M to 2.2M between Aug 10, 2022 and Nov 9, 2022, a pattern consistent with a reverse split (roughly 1-for-25); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

~3 months of cash left

critical · burning $2.1M / quarter

Full breakdown: cash runway tool

Warrants

TrancheWarrantsExercise priceTermNotes
October2024 Series K Warrants562,945$13.3——
Series M Warrants340,000$1.565.5yFV $509,000
September2024 Series J Warrants188,363$19——
Series H Warrants26,316$19——
Series I Warrants26,316$19——
Series J Warrants26,316$19——
May2020 Placement Agent Warrants16,888$20.62——
August2020 Placement Agent Warrants13,534$10.31——
Placement Agent Warrants13,534$10.30755y—
Prefunded Warrants12,368$0.0019——
September2024 Representative Warrants11,302$29.45——
February2022 Series B Warrants2,061$2660——

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 14, 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.

Warrants outstanding: 1.1M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $0.0001 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 15.5M = 14.4M O/S + 1.1M 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
Other Assumed Notes$1.3M—$1.8—~722,222 sh
Secured Debtnot tagged$1.3Mnot tagged——
Boot Capital Second Convertible Note Payable$204,000—not tagged——
Boot Capital First Convertible Note Payable$102,000—not tagged——
Boot Capital Convertible Notes Payablenot tagged$0not tagged10%—

If every note above converted at its tagged price: ~722,222 new shares on 14.4M 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 14, 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 outstanding14.4MAug 10, 2026
+ October2024 Series K Warrants (if exercised)562,945Jun 30, 2026
+ Series M Warrants (if exercised)340,000Jun 30, 2026
+ September2024 Series J Warrants (if exercised)188,363Jun 30, 2026
+ Series H Warrants (if exercised)26,316Sep 3, 2024
+ Series I Warrants (if exercised)26,316Sep 3, 2024
+ Series J Warrants (if exercised)26,316Sep 3, 2024
+ May2020 Placement Agent Warrants (if exercised)16,888Jun 30, 2026
+ August2020 Placement Agent Warrants (if exercised)13,534Jun 30, 2026
+ Placement Agent Warrants (if exercised)13,534May 12, 2025
+ Prefunded Warrants (if exercised)12,368Sep 3, 2024
+ September2024 Representative Warrants (if exercised)11,302Jun 30, 2026
+ February2022 Series B Warrants (if exercised)2,061Jun 30, 2026
+ Other Assumed Notes (if fully converted)722,222Mar 9, 2026
Fully diluted estimate16.4M+13.6% 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: $64.7Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Jun 22, 2026$64.7M registeredfiling →
S-3May 21, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3Jan 10, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 7 executed · 2 registered.

EXECUTEDOct 9, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
UPDATEAug 21, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EXECUTEDJul 31, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDJul 15, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
UPDATEJul 10, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEJul 10, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDJul 6, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A →
REGISTEREDJun 22, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →
EXECUTEDApr 23, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDMar 9, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDFeb 12, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDFeb 6, 2026Unregistered 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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