The O/S chart conveniently displays the possible sources of dilution.

The dark blue bars represent the historical shares outstanding split adjusted as well as the latest shares outstanding.

All the other bars stacked on top of the last bar displays POTENTIAL dilution should ALL the sources be used. It does NOT mean the sources HAVE to be used.

ATM Bar - this number is estimated by dividing the remaining ATM capacity by the current price to estimate how many shares COULD be issued if the entire ATM was used.

S-1 Offering Bar- this number is estimated by dividing the anticipated deal size from the S-1 filing including warrant coverage by the current price to estimate how many shares COULD be issued once the deal is priced. In reality, the price will likely be lower than the current market price due to offering discount so the number of shares issue will also be higher.

Warrant Bar - The total number of registered warrants outstanding, both out of and in the money.

Equity Line Bar- this number is estimated by dividing the remaining equity line capacity by the current price to estimate how many shares COULD be issued if the entire equity line was used. It takes into account of the 20% nasdaq rule and only displays shares registered on the S-1 if mentioned.

Convertible Preferred/Notes Bar - Displays the shares convertible from notes and preferred shares.

Note that the remaining shelf capacity is not displayed here because most shelves have large capacities and not representative of individual offering sizes.