SolarMax Technology, Inc. (SMXT) AI Dilution Summary

Cash was $4,307,362 at the 2026-03-31 balance-sheet date, against estimated monthly burn of $1,395,715. Dilution here is driven primarily by the $15,550,000 of 4% secured subordinated convertible notes issued to former limited partners of CEF and CEF II, with 642,269 shares issuable at stated terms.