Oct. 1 at 4:16 PM
$SOS latest 6-K review - can't wait for more dilution!
📊 Shares outstanding (per filings):
• 12/31/23 – 136M
• 12/31/24 – 469M
• 7/31/25 – 1.35B (pre-consolidation)
• Post 150:1 consolidation (Sept 2025) – ~9M ordinaries now trading
= ~10× dilution in 19 months → including a reverse split.
💵 Cash balance:
• 12/31/24 –
$237.5M
• 6/30/25 –
$4.2M
= collapse after a
$228M “prepayment” booked in Other Receivables.
📉 Operating cash outflow: –
$240M in 1H25.
📉 Net loss: –
$14.2M.
📉 Revenues:
$89.6M, but 95% commodities trading at negative gross margin.
⚠️ Recent events:
-7/31/25 offering (
$6.8M net).
-Confidential settlement with True North / Jaliman (8/30).
-9/8 ADR program terminated → only ~9M Cayman ordinaries now listed on @NYSE.
At ~
$2/share, market cap ≈
$18M — barely above @NYSE’s
$15M bar.
👉 Key risks: liquidity almost gone, business losing money, and future dilution likely unless the
$228M “prepayment” turns into real value.
#SOS #NYSE #Dilution #ShareholderRights
