INDEX/$BNC · 2026-09-09
$BNC
$5.2500+50.43%CEA Industries · NasdaqCM · mkt cap $216.6M · cash $3.06M + $317M BNB · O/S 41,263,850 common as of 2026-06-15 (10-K cover)
Cutoff 2026-09-09 09:30 ET
BNC4 tokenized bid · BNB DAT
RATINGS
- OVERALLHIGH
- OVERHEADHIGH
- DILUTIONMED→HIGH
- DIL. FREQHIGH
- OFFERINGHIGH
- CASH NEEDLOW
- COMPLIANCELOW
- BANKERD
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THREE FINDINGS
- 01Four.meme BNC4, company silent
Third-party 4Stock mint on BNB Chain drove 70M shares (+50%). No issuer filing in 96h; Sep 4 8-K was preferred cleanup only.
- 02DAT below NAV with ATM armed
515,544 BNB / $317M FV vs $217M mcap. Cantor ATM ~$37M residual (VERIFY). Rational issuer print into strength.
- 0349.5M stapled warrants OTM — not free float
Strike $15.15. Economics only at $5.25. Prefunded 7.75M also not free common without exercise+clearance.
SUPPLY
- O/S
41,263,850
10-K cover Jun 15
- MKT CAP
$216.6M
- CASH+BNB
$3.06M + $317M
- ATM
~$36.9M left
of $50M Cantor · VERIFY
- STAPLED
49.5M @ $15.15
OTM economics
COMPLIANCE CLOCK
2026-08-05
5620(a) cured
Staff letter closed annual-meeting deficiency
—
Bid / equity
$5.25 / $304.8M — no live deficiency
ongoing
ICFR MW
Material weakness as of Apr 30, 2026
NEXT WATCH
- Four.meme mint continuum / any company comment
- ATM prints into strength
- Permanent CEO appointment
- 10X Capital litigation
- BNB treasury mark update
Internal research only — not investment advice. NOT a retail broker. Cutoff 2026-09-09 09:30 ET. Source files: HTML dossier, 1-pager, social pack, and PDF linked in VIEW. Do not treat this console as a solicitation or an offer to buy or sell securities.