SPQS (SPQS) AI Dilution Summary

Estimated cash was $15,135 as of 2026-06-30, matching cash at the 2026-06-30 balance-sheet date, against estimated monthly burn of $10,455. Dilution here is driven primarily by the $67,500 Zoran Cvetojevic convertible note, which converts "at a fixed conversion price of $0.00001 at any time before maturity" at the holder's election, yielding 6,750,000,000 shares issuable at that conversion price. No reset or anti-dilution adjustment is described, and the note matures 2026-01-20.