REED'S, INC. (REED) AI Dilution Summary

Estimated cash was $2,410,000 as of 2026-06-30, matching the $2,410,000 at the 2026-06-30 balance-sheet date, against estimated monthly burn of $723,333. A $25,000 amendment fee is payable to Whitebox on 2026-11-06 under Amendment No. 2 to the Senior Secured Loan and Security Agreement. Dilution here is driven primarily by the December 2025 public offering common warrants: 2,875,000 shares at a fixed $4.50 exercise price, expiring 2030-12-08.