THE READ 90 red-flag mentions across this year's filings, led by reverse stock split and going concern doubt; share count shrank 71% over the past year (shrinking, not printing); only about 5 months of cash at the current burn rate.
We read every document this company filed with the SEC this year and counted the classic danger phrases. Where wording can be misleading, we open the actual documents and separate real warnings from accounting boilerplate. Each hit links to the exact document.
An ATM lets the company print and sell new shares into the market any day it wants. Every print dilutes your slice.
A reverse split shrinks the share count to lift the price above $1. Repeat reverse splits are the classic death-spiral signature.
EVIDENCE: [1] 8-K FILED 2026-08-26 · [2] 10-Q FILED 2026-08-17 · [3] 8-K FILED 2025-09-15 · [4] 10-K FILED 2026-04-17 · [5] 10-K/A FILED 2026-04-22
Auditors flagged substantial doubt the company survives the next 12 months without new money.
EVIDENCE: [1] 10-Q FILED 2026-05-15 · [2] 10-Q/A FILED 2026-06-08 · [3] 10-Q FILED 2026-08-17 · [4] 10-Q FILED 2025-11-13 · [5] 10-Q/A FILED 2026-06-08
The exchange has threatened to kick the stock off. Delisting pressure usually ends in a reverse split or a fire-sale raise.
SOURCE: FULL-TEXT SEARCH OF THE COMPANY'S OFFICIAL SEC FILINGS. "REAL WARNINGS" = WE OPENED THE LINKED DOCUMENTS AND FILTERED PHRASES WRAPPED IN NEGATIONS, RESOLUTION LANGUAGE OR STANDARD CONTRACT TERMS. "AT LEAST" = MORE DOCUMENTS CARRY THE PHRASE THIS YEAR THAN WE COULD OPEN AND READ.
How many shares exist, over time, exactly as the company reported in its own filings. In microcaps, a rising share count is how holders pay for everything: salaries, debts, and bad deals. Sudden collapses in the line are reverse splits, marked below.
SOURCE: THE COMPANY'S OWN REPORTED SHARE COUNTS ACROSS 36 FILINGS, STRAIGHT FROM SEC RECORDS
CHECKING OFFICIAL SPLIT RECORDS…
Type how many shares you hold. The math is plain division on the company's own reported counts.
Cash in the bank against how fast the company burns it. When this hits zero, the next stop is usually a desperate raise at bad terms, and existing holders pay through dilution.
RUNWAY = CASH ON HAND ÷ MONTHLY CASH BURN. SIMPLE ARITHMETIC ON THE COMPANY'S OWN REPORTED NUMBERS, NOT A PROJECTION.
The latest filings, translated into holder impact. Every number cites its form, date and SEC link.
Shares outstanding fell 423.08M to 122.82M (-71.0%) between 10-K/A 2026-06-30 and 10-Q 2026-08-17 (buyback/shrink).
NOW: 122,823,068 as of 2026-08-17 (10-Q, filed 2026-08-17)
WAS: 423,084,729 as of 2026-06-30 (10-K/A, filed 2026-07-01)
Cash and equivalents rose $4.12M to $18.18M ($14.06M, +341.1%) between 10-Q 2026-03-31 and 10-Q 2026-06-30.
NOW: $18.18M as of 2026-06-30 (10-Q, filed 2026-08-17)
WAS: $4.12M as of 2026-03-31 (10-Q, filed 2026-08-17)
Total assets fell to $55.09M (from $72.81M, -24.3%) between 10-Q 2026-03-31 and 10-Q 2026-06-30.
NOW: $55.09M as of 2026-06-30 (10-Q, filed 2026-08-17)
WAS: $72.81M as of 2026-03-31 (10-Q, filed 2026-08-17)
Total liabilities fell to $15.78M (from $38.92M, -59.5%) between 10-Q 2026-03-31 and 10-Q 2026-06-30.
NOW: $15.78M as of 2026-06-30 (10-Q, filed 2026-08-17)
WAS: $38.92M as of 2026-03-31 (10-Q, filed 2026-08-17)
Revenue rose $15.21M to $17.47M (+14.8%) between the period ended 2026-03-31 and the period ended 2026-06-30 (10-Q).
NOW: $17.47M as of 2026-06-30 (10-Q, filed 2026-08-17)
WAS: $15.21M as of 2026-03-31 (10-Q, filed 2026-08-17)
Monthly operating cash deficit ~$3.57M ($-21.14M over the period ended 2026-06-30 in 10-Q). Against $18.18M cash is roughly 0.4 years of runway (5 months).
NOW: $-21.14M as of 2026-06-30 (10-Q, filed 2026-08-17)
When something material happens, the company itself must announce it in an 8-K under the SEC's numbered item system. These are those announcements, newest first: bankruptcy papers, exchange delisting warnings, auditor changes, financials pulled back. Read straight from the SEC filing index, no interpretation layer.
SOURCE: THE ITEM NUMBERS THE COMPANY ITSELF PUT ON EACH 8-K IN THE SEC'S FILING INDEX. HOVER A STAMP FOR WHAT THAT ITEM MEANS FOR YOUR SHARES. OFFICIAL NOTICES INSIDE THE LAST 12 MONTHS ALSO FEED THE RISK INDEX ABOVE (CAPPED AT 15 POINTS).
EACH BAR IS ONE REPORTED QUARTER. GREEN = MOST RECENT QUARTER GREW VS THE ONE BEFORE.
An 8-K is the "something happened right now" filing. Here is what this one says, in the company's own words.
Unregistered Sales of Equity Securities. On July 13, 2026, FDCTech, Inc. (the “Company”) issued an aggregate of 118,592,200 shares of its common stock, par value $0.0001 per share (the “Common Stock”), to eight (8) holders of record upon the conversion of all 2,371,844 outstanding shares of the Company’s Series B Convertible Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock”). All share amounts in this Current Report give effect to the reverse stock split described in
below. The conversion was effected solely in exchange for the outstanding shares of Series B Preferred Stock. No cash or other consideration was paid to the Company, and no commission or other remuneration was paid or given directly or indirectly for soliciting the conversion. The Certificate of Designation of the Series B Preferred Stock, filed with the Secretary of State of the State of Delaware on December 4, 2023, designated 3,000,000 shares of the Company’s preferred stock as Series B Preferred Stock and stated a conversion rate of one hundred (100) shares of Common Stock for each one (1)...
Material Modification to Rights of Security Holders. The information set forth in
A rules-based reading of the cited filing facts: a range with reasons, never a prediction.
HOW THE BRACKET IS BUILT: TRAILING EARNINGS OF $0.1205/SHARE AT 10.0-18.0X · BOOK EQUITY OF $0.3201/SHARE AS A SUPPORT LEVEL · CASH FLOOR: $0.1481/SHARE IN A WIND-DOWN.
Share count is stable-ish (-71.0% change between the last two reported quarters).
Revenue was roughly flat (+14.8% period over period).
Fair-value range anchored to cited facts: $0.7000 to $2.17 per share.
Cash of $18,184,787 funds under half a year of operating burn, a hard going-concern pressure without fresh capital.
Verified going-concern warnings in a recent filing: auditors or management flagged substantial doubt about continuing (document text checked, boilerplate excluded).
METHOD: DETERMINISTIC RULES OVER CITED SEC FILING FACTS: SHARE-COUNT CHANGE BETWEEN THE LAST TWO REPORTED QUARTERS (DILUTION), CASH-TO-BURN RUNWAY FROM THE MOST RECENT OPERATING CASH FLOW, PERIOD-OVER-PERIOD REVENUE GROWTH, AND A FAIR-VALUE RANGE ANCHORED TO CASH PER SHARE VS PRICE. THRESHOLDS ARE TUNABLE IN APP/VERDICT_ENGINE.PY. NOT A PREDICTION.
Every time an officer, director or big owner trades shares, the law makes them file a Form 4 within two business days. We read the actual filings: who traded, what kind of trade, how big, at what price.
The company's most recent SEC paperwork, newest first.
SOURCE: THE COMPANY'S SEC FILING INDEX
Public records that most investors never check, cross-checked against what the company claims. This is where shells slip up.
SOURCES: PUBLIC DOMAIN REGISTRATION RECORDS (FOUND IN THE COMPANY'S OWN FILING SIGNATURES) · THE COMPANY'S SEC FILING INDEX · OFFICIAL US SANCTIONS LIST · QUARTERLY 13F FILINGS VIA EDGAR FULL-TEXT SEARCH · LEGAL-IDENTITY, SITE-HISTORY, CERTIFICATE, REGISTRANT-HISTORY AND DNS SLOTS STREAM IN FROM FREE PUBLIC REGISTRIES WITHOUT BLOCKING THIS PAGE.
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SOURCE: THE COMPANY'S SEC FILING INDEX
One Telegram message per material filing: dilution, going concern, delisting, insider dumps. No account, no email. Every line cites its SEC source. Leave anytime with /unwatch.
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