Gelteq Ltd (GELS) AI Dilution Summary

Cash was $9,349 at 2025-12-31 against estimated monthly burn of $180,448. The most recent capital raised was a note sold in a private placement that closed 2026-06-26 for $2,500,000 net, after a $1,000,000 net note tranche closed 2026-05-07. Dilution here is driven primarily by the Lincoln Park Capital Fund, LLC equity line.