Mar. 19 at 8:53 PM
$FEED live short interest 11.09%, CTB 144.3, approaching oversold on the daily, pump candidate on watch ready to dilute with nothing avail on the shelf.
So much dilution history here im not going to post all of it.
July 2025 Series H Convertible Preferred --
$8.89M to Alpha Capital Anstalt through Palladium
The most significant and complex instrument currently active.
$11,389,000 remaining dollar amount at
$1.00 conversion price -- meaning 11,389,000 shares to be issued upon full conversion. Against current OS of 1,088,176 shares, full conversion of this instrument alone would add more than 10x the current share count. Full ratchet plus variable rate. Critically: on January 30 2026, Alpha Capital Anstalt exercised
$2.5M of an Additional Investment Right, and in exchange the floor price was removed entirely from the Certificate of Designations. No floor. The conversion price can now reset to any level with no lower bound. This is the most aggressive instrument in this entire session -- a
$11.4M face value preferred with no floor that converts at
$1.00 or lower and can reset downward infinitely.
July 2025 Warrants: 467,836 remaining at
$22.50, expiring January 2027. Known owner Alpha Capital Anstalt. Completely worthless at
$1.21.
August 2023 Shelf
$0 currently raisable. Baby shelf wall at
$68.93 vs
$1.21 stock.
$2.04M raised to date. Last banker HC Wainwright. Expires August 2026. Completely inaccessible.
FEED is one of the most dangerous capital structures i've covered. The July 2025 Series H Convertible Preferred held entirely by Alpha Capital Anstalt has
$11.4M face value, converts at
$1.00 per share or lower with no floor whatsoever following the January 2026 amendment, and represents 11,389,000 potential shares against a current OS of only 1,088,176. Full conversion would expand the share count by more than 10x. The February 2025 convertible note at
$1.3M is overdue since November 2025 and Alpha Capital holds that too.
Alpha Capital Anstalt is the sole significant financing counterparty controlling the company's survival. They hold the overdue note, the floorless preferred, and the warrants. They exercised their Additional Investment Right in January 2026 specifically in exchange for removing the floor price -- meaning they paid
$2.5M for the right to convert at any price with no protection for existing shareholders.
This is a single-counterparty death spiral structure with no floor and no conventional escape mechanism at current prices.