Reborn Coffee, Inc. (REBN) AI Dilution Summary

Cash was $309,878 at 2026-06-30 against estimated monthly burn of $680,159. The filings schedule $400,000 debenture payments to the Arena Investors on 2026-07-30 and 2026-08-30, and no filing reviewed confirms either was paid. Dilution here is driven primarily by the $3,284,165 Arena 10% Original Issue Discount Secured Convertible Debentures, which convert at 92.5% of the lowest daily VWAP over five trading days, so the issuable count rises as the price falls.