Metalpha Technology Holding Ltd (MATH) AI Dilution Summary

Cash was $3,938,121 at 2026-03-31 against estimated monthly burn of $1,238,495. Dilution here is driven primarily by the Northstar Technologies Type A Warrant (November 2022): 4,500,000 shares underlying at a fixed exercise price of $1.00, expiring 2027-11-28. The share count is set by contract and does not move with the market price.