Dec. 30 at 2:49 PM
$CLRO micro float, 2.07% live short interest, 65.83 CTB, watching for oversold conditions
OS: 2.24M
Float: 0.89M
Key Dilution Weapons Active
• August 2020 Shelf (Baby Shelf)
Capacity:
$1.87M remaining
Price to break baby shelf:
$83.93
No usage in the past 12 months
• Active converts and warrant stacks exist
Multiple legacy warrant series outstanding
One active convertible preferred issued June 2025
Completed Dilutive Events (most relevant recent)
• June 2025:
$3.0M Class B Convertible Preferred (First Finance)
499,168 shares at
$6.01 conversion
• February 2025:
$1.0M private placement
2.0M shares at
$0.50 (insider-led)
Most Dangerous Instruments
June 2025 Class B Convertible Preferred
$3.0M face,
$6.01 conversion, customary anti-dilution
Creates immediate overhang if stock trades above conversion
Derivative supply present but finite
Shelf capacity limited by baby shelf rule
OS: 2.24M
Effective near-term issuance without new filing: ~
$1.87M + preferred conversion
Deal Memory (Price Levels That Matter)
$6.29 (highest 60D close; baby shelf math anchor)
$83.93 (price required to remove baby shelf constraint)
$5.05 (spot)
Dilution risk is structural, not explosive.
Legacy warrants and one active preferred create overhead supply, but the real constraint is the baby shelf.
Without a new filing or strategic transaction, capital flexibility remains tight and reactive.
