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

Catheter Precision, Inc. (VTAK)

CIK 1716621 · 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$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
MEDIUMwarrants = 42% 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-50% 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~0.6 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

2020-08-072026-05-08

Latest: 2.7M shares as of May 8, 2026 (10-Q). 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

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

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 May 18, 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 Mar 31, 2026 (10-Q).

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

Rough fully diluted estimate: 3.8M = 2.7M 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$204,000not tagged
Boot Capital First Convertible Note Payable$102,000not tagged

If every note above converted at its tagged price: ~722,222 new shares on 2.7M 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 May 18, 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 outstanding2.7MMay 8, 2026
+ October2024 Series K Warrants (if exercised)562,945Mar 31, 2026
+ Series M Warrants (if exercised)340,000Mar 31, 2026
+ September2024 Series J Warrants (if exercised)188,363Mar 31, 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)16,888Mar 31, 2026
+ August2020 Placement Agent Warrants (if exercised)13,534Mar 31, 2026
+ Placement Agent Warrants (if exercised)13,534May 12, 2025
+ Prefunded Warrants (if exercised)12,368Sep 3, 2024
+ September2024 Representative Warrants (if exercised)11,302Mar 31, 2026
+ February2022 Series B Warrants (if exercised)2,061Mar 31, 2026
+ Other Assumed Notes (if fully converted)722,222Mar 9, 2026
Fully diluted estimate4.7M+72.9% 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: $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: 6 executed · 2 registered.

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
EXECUTEDAug 7, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 13, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5

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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