Jan. 26 at 2:33 PM
$HCWC live short interest 0.44%, CTB 4.02, just know on large volume event that both maxim and sabby are here.
OS: 18.17M
Float: 16.13M
Market Cap:
$6.0M
Key Dilution Weapons Active
• 2.36M Series A Pref @
$1.38 (May 2025)
• 1.45M Series A Pref @
$1.38 (Nov 2025)
• Pending
$500M shelf (baby shelf constrained)
This is a micro-cap with minimal active dilution vectors besides convertible preferred. No pipes, no equity lines, no ATMs, no warrant stacks remaining post-IPO. The capital structure is clean but the shelf headline size is meaningless due to baby shelf math. Cashflow positive operations reduce near-term financing pressure. Cap table risk is moderate and concentrated in preferred conversions, not VWAP instruments.
Completed Dilutive Events (most recent first)
Nov 2025 – Private Placement (Convertible Preferred)
• 1,449,275 shares @
$1.38
•
$2,000,000 raised
May 2025 – Private Placement (Convertible Preferred)
• 2,355,072 shares @
$1.38
•
$3,250,000 raised
Sept 2024 – IPO
• 400,000 shares @
$10.00
•
$4,000,000 raised
Bank: Maxim
Deal Memory (Price Levels That Matter)
$10.00 (IPO)
$1.38 (Convertible Pref)
Current spot ~
$0.33
Cap Table Characterization
Clean post-IPO structure with preferred-driven dilution rather than notes or pipes. Baby shelf limits are the gating factor for future issuance. Operations provide cushion vs. capital markets.
