DeFi Capital Markets, Inc. (DCM) AI Dilution Summary

Funding comes from unregistered note placements: estimated cash was $3,326,106 as of 2026-07-31, from $3,710,413 at 2026-06-30 against estimated monthly burn of $229,268. The most recent raise was the second-tranche SJC convertible note closed 2026-07-29, $530,000 principal issued for $500,000 net, following a $1,000,000 placement closed 2026-06-12; a $650,000 payment to Ault Lending, a related party, followed on 2026-07-31.