Swarmer, Inc (SWMR) AI Dilution Summary

Estimated cash was $40,002,052 as of 2026-08-31, rolled forward from $25,289,260 at the 2026-06-30 balance-sheet date against estimated monthly burn of $1,856,238. The company funds itself through its equity line with Lucid Capital Markets, LLC, which issued 340,336 shares for $13,800,000 after the 2026-06-30 balance-sheet date and on or before 2026-08-31. Dilution here is driven primarily by that equity line.