The filings point to a discounted equity raise ahead — dilution for existing holders. Next thing to watch: a 424B or offering 8-K.
Radar 97 (high attention) · dilution pressure high · listing risk high · governance risk elevated · runway 1.2 mo · strongest signal: Exchange deficiency notice (Aug 21, 2026)
What would confirm: 424B5/8-K announcing an offering, ATM sales disclosed in next 10-Q, or Form 4 sales by insiders ahead of it.
What would prove it wrong: Non-dilutive cash event (asset sale, grant, milestone payment), OCF turning positive, or shelf withdrawn (RW).
Direction is stated for existing shareholders (▼ more shares / survival or listing risk; ▲ insiders or holders buying). It is a characterization of the filings, not a forecast or a recommendation.
Independent filings stitched into a thesis, each with what would confirm and what would prove it wrong.
The filings point to a discounted equity raise ahead — dilution for existing holders. Next thing to watch: a 424B or offering 8-K. Cash need (going concern in 8-k, runway < 6 months) coexists with live selling machinery (convertible note, pipe). Base case is a discounted raise; the question is when, not if.
Listing is at risk and the usual cures are constrained. Next thing to watch: a reverse-split proxy, a hearings-panel 8-K, or a Form 25. Exchange deficiency plus a structural reason cure is hard (sub-$5M float, negative equity, no cash, or a reverse split already used). Under Nasdaq's 2026 rules (one reverse split per 12 months; $5M MVLS floor with no cure period from Sept 2026) the usual escape hatches are narrower.
Variable-priced paper is outstanding while the listing is under stress — the structure where dilution can accelerate. Watch the share count each quarter. Discount-priced or variable-priced securities are outstanding while the company is managing its listing with reverse splits/notices. Each conversion lowers the price, which lowers the next conversion price.
authID Inc. disclosed two Item 3.01 listing notices in August 2026: on August 21 it received a non-compliance letter for failing to maintain $50 million in market value of listed securities (MVLS) and for stockholders' equity below $2.5 million, and on September 1 it disclosed a second notice for minimum bid price non-compliance and its request for a hearings panel. Both 8-Ks reference going concern and the August 21 filing arrived late Friday evening. On September 15, the company filed an Item 3.02 for an unregistered securities sale referencing convertible notes and a PIPE. As of June 30, 2026 (79 days stale), authID held $1,350,631 in cash against $5,278,317 in current liabilities and equity of $2,042,515, implying approximately 1.2 months of runway based on annualized operating cash flow.
Runway = liquidity ÷ monthly operating burn at the latest reported period · balance sheet 80 days old. A financing after the balance-sheet date is the main reason a figure can be stale — check the timeline below for offerings since then.
Last 30 days of filing signals plus current balance-sheet flags, newest first. ▼ pressure · ▲ support · hover a score for its components; every row links to the filing.
| Date | Signal | Evidence | Score |
|---|---|---|---|
| Sep 15, 2026 | ▼ Convertible note | “convertible note” language in 8-K (8-K) filed 2026-09-15 filing | 39 |
| Sep 15, 2026 | ▼ Unregistered sale | 8-K Item 3.02 filed 2026-09-15 (accepted 17:12 ET) filing | 37 |
| Sep 15, 2026 | ▼ PIPE | “pipe” language in 8-K (8-K) filed 2026-09-15 filing | 33 |
| Sep 2, 2026 | ▼ Going concern in 8-K | “going concern 8k” language in 8-K (8-K) filed 2026-09-02 filing | 31 |
| Sep 2, 2026 | · Officer/director change | 8-K Item 5.02 filed 2026-09-02 (accepted 08:30 ET) filing | 23 |
| Sep 1, 2026 | ▼ Hearings panel | “hearings panel” language in 8-K (8-K) filed 2026-09-01 filing | 58 |
| Sep 1, 2026 | ▼ Exchange deficiency notice | 8-K Item 3.01 filed 2026-09-01 (accepted 17:15 ET) filing | 55 |
| Sep 1, 2026 | ▼ Equity deficiency | “stockholders equity deficiency” language in 8-K (8-K) filed 2026-09-01 filing | 52 |
| Sep 1, 2026 | ▼ Minimum bid deficiency | “min bid” language in 8-K (8-K) filed 2026-09-01 filing | 48 |
| Sep 1, 2026 | ▼ Delisting language | “delisting notice” language in 8-K (8-K) filed 2026-09-01 filing | 46 |
| Sep 1, 2026 | ▼ Reverse split | “reverse split” language in 8-K (8-K) filed 2026-09-01 filing | 34 |
| Sep 1, 2026 | ▼ Going concern in 8-K | “going concern 8k” language in 8-K (8-K) filed 2026-09-01 filing | 31 |
| Aug 21, 2026 | ▼ Exchange deficiency notice | 8-K Item 3.01 filed 2026-08-21 (accepted 17:00 ET) filing | 65 |
| Aug 21, 2026 | ▼ MVLS deficiency | “mvls deficiency” language in 8-K (8-K) filed 2026-08-21 filing | 63 |
| Aug 21, 2026 | ▼ Hearings panel | “hearings panel” language in 8-K (8-K) filed 2026-08-21 filing | 58 |
| Aug 21, 2026 | ▼ Equity deficiency | “stockholders equity deficiency” language in 8-K (8-K) filed 2026-08-21 filing | 52 |
| Aug 21, 2026 | ▼ Delisting language | “delisting notice” language in 8-K (8-K) filed 2026-08-21 filing | 46 |
| Aug 21, 2026 | ▼ Going concern in 8-K | “going concern 8k” language in 8-K (8-K) filed 2026-08-21 filing | 31 |
| Jun 30, 2026 | ▼ Runway < 6 months | ~1.2 months runway: liquidity $1,350,631 as of 2026-06-30, burn $13,658,892/yr (annualized 180-day YTD operating cash flow [companyfacts]) filing | 43 |
| Jun 30, 2026 | ▼ Cash < current liabilities | Liquidity $1,350,631 vs current liabilities $5,278,317 filing | 22 |
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