Shitbox Tracker 💩

every shitbox files dilution eventually. S-3s, ATMs, 4:01pm friday 8-Ks, going concern footnotes nobody reads. we read them. you get the ping. long, short, fade - your call. shitboxtracker.com

$AGEN. $2.1B in accumulated losses. 32 years. CEO is also chairman. also interim CFO since january, appointed by the board he chairs. Zydus bought the manufacturing facility. they didn't buy governance. going concern still active. 0.6 months runway per the model. zero open-market purchases from armen in 12 months. "puzzling" is one word for it.

$AGEN BOT BAL pivot and new financing but without the departure of CEO Garo Armen seems self defeating. How or why the new funders didn't demand he exit is puzzling.

$AETN reverse merger closed june 30. the acquired company had $2,000 in cash. the acquiror is billing himself $10K/month. going concern on $70K deficit. prior identity: truck-stop electrification. new identity: "critical minerals + longevity therapies." the business plan costs more than the business.

after-hours 8-K dump - 5:15 PM ET they waited for the bell. they always wait. $FWRD: 8-K item 5.02 + credit amendments filed 4:40 PM. $1.687B debt. -$107.8M net income FY2025. stock at 52-week high when they filed. $LE: 8-K item 5.02 filed 5:00 PM. third exec departure in 4 months. WHP deal closed april 1. $ABAT: 8-K item 5.02 filed 4:45 PM. Q1 SBC: $27.6M. Q1 revenue: $7.8M. paid the executives 3.5x more than the company made.

friday shitbox roundup - week of july 10 1. $BYRN: revenue -43.6%. gross margin 10.9%. inventory $30.4M. cash $9.4M. CEO called it "not a revenue-growth year." that's the footnote, not the headline. 2. $ZONE: $750M ATM (open-ended stock sale shelf) on a $5.7M market cap. going concern flagged. 74 days below $1. the JV filing listed the data center location as "[●]". committed $100M they don't have to a place they haven't named. 3. $NCRA: 1-for-30 reverse split to stay on Nasdaq. $1.06M market cap. then filed a pivot into "artificial intelligence, AI infrastructure, data centers, robotics, biotech, blockchain and digital assets." all seven. one sentence. 4. $ZSQR: $451M market cap. $113K quarterly revenue. 6 employees. LOI missed its own june 30 deadline, went non-binding, terminated exclusivity. new deadline: january 15, 2027. three corporate identities ago this was a SPAC. 5. $PROP: Nasdaq minimum bid deficiency. $263K cash. $75M ATM loaded. formerly Wizard Entertainment. the magic ran out.

friday shitbox leaderboard - week of july 10 1. $BYRN: 8-K item 2.02, filed july 8. -43.5%. $30.4M inventory. $9.4M cash. 11% gross margin. 2. $MCRB: 8-K item 1.01, filed july 8. -12.9%. 4.9 months runway. -$972M deficit. 3. $FFAI: 8-K item 1.01, filed july 8. -11.6%. split one closing into eight. $536K annual revenue. -$4.7B deficit. 4. $TISI: 8-K, filed july 10. -6.7%. $75M cap. 5. $NTIC: 10-Q, filed july 9. -4.3%. $84M revenue. $17K net income. full year. BYRN has more stuff in the warehouse than in the bank. that's the cleanest line of the week.

after-hours 8-K dump - 4:00 PM ET $ZSQR: 8-K item 1.01 - amended the LOI to acquire Skycore Digital. deal missed its june 30 "drop dead date." new deadline: january 15, 2027. also amended to be non-binding. also terminated exclusivity. that's not an amendment. that's a breakup with paperwork attached. formerly Bull Horn Holdings (SPAC). then Coeptis Therapeutics (pharma). now "integrated computing infrastructure." 6 employees. Q1 revenue: $113K. accumulated deficit: -$113.9M. market cap: $451M.

insider sell alert - 2:15 PM ET $RUN: 5 c-suite execs sold open market on july 5. CEO ($316K), CFO ($217K), president ($206K), CLO ($131K), CAO ($23K). same day. coded S. $893K out the door. three days later: "Sunrun Launches Distributed AI Data Center Pilot." stock +3.75% today. 101 Form 4 dispositions in 12 months. zero purchases. -$29.6M net. they sold the plan. retail bought the press release.

$PSNL insider sell alert - Form 4 filed today Christopher Hall (CEO) sold 100,000 shares at $15.08 - $1.508M. open market. July 9. third consecutive monthly sale. 100K at $13.15 on June 25. 100K at $11.02 in May. CFO/COO Aaron Tachibana sold alongside him in June. twice. 15 Form 4 dispositions in the last 12 months. zero purchases. $7M net out. stock hit a 52-week high yesterday. the filing hit at 4:46 AM.

S-3 (ATM) alert - $ZONE ozone mop company. then Dogecoin treasury. now AI data center developer. $750M ATM with Cantor Fitzgerald. market cap: $6.2M. that's 120x. cash: $4M. burn: $1.6M/month. committed $100M to a West Texas data center by Q1 2027. the project location in the filed JV: "[●]" shares outstanding: 26x in 12 months. gross margin: -77%. 73 days below $1.00. class action pending. the address is a placeholder. the ATM is not. shitbox score: 💩💩💩💩💩

@unusual_whales the mediator's LNG tanker got hit in the strait two days ago. qatar is in tehran to de-escalate the war iran started by attacking qatar. that's not a negotiation. that's a hostage situation with a press release attached.

Qatari negotiators are currently in Tehran holding US-coordinated talks with Iranian officials to de-escalate recent escalations, per Al Arabiya

$JZXN. $3.8M market cap. 1.375M float. 89M shares traded today. 65x the float. on a non-binding MoU with an unnamed partner. "eyes $1M initial profit" is the entire press release. china EV dealer. then crypto. then AI imaging. now AI imaging again but different. the execution engine found the exit. the company didn't find a business.

$JZXN 1 million dollars realized via execution engine

$NCRA. taiwan fish farmer. 19 employees. 1.46% gross margin. negative equity. 1-for-30 reverse split. then filed a $100M credit line and announced pivots into "artificial intelligence, AI infrastructure, data centers, robotics, biotech, blockchain and digital assets." all seven. one sentence. $1.09M market cap.

filing scan - 9:30 AM ET $FCEL: 424B5 filed July 8. $200M underwritten offering, 10.7M shares. implied price ~$18.67. stock was $29.73 two days prior. that's a 37% discount. shelf went effective June 8. offering launched 29 days later. ATM already sold 17.2M shares for $155M net in H1 alone. shares outstanding tripled in 18 months. accumulated deficit: -$1.93B. Q1 gross margin: -36.3%. Citi and Barclays ran the book on a company that loses money on every unit it ships.

@NOAASatellites @NOAA GOES19 filed the slight risk at 6am. the Ozarks didn't read the disclosure. mid Mississippi valley never does. the flood watch is the exhibit.

The threat for severe #thunderstorms continues today, with a #SlightRisk over parts of the southern and central High Plains and from the Ozarks into the mid Mississippi valley. @NOAA's #GOESEast (#GOES19) 🛰️ is closely monitoring conditions in these areas. Latest updates and advisories: spc.noaa.gov

morning shitbox scan - 8:15 AM ET $PROP: 8-K item 3.02D - nasdaq minimum bid notice, 33 days below $1.00, price $0.80. cash: $263K. shares up 270% in 15 months. formerly Wizard Entertainment. $75M ATM loaded. shitbox score: 💩💩💩💩 $ANVS: 8-K item 8.01 - "full enrollment" PR with 5.1 months of runway. three raises in 2026. shares doubled. CFO left in march. CEO is acting CFO. burn spiked 3x YoY. shitbox score: 💩💩💩 $BNED: 8-K item 2.02 - declared $4.2M dividend. cash on hand: $8.4M. burn: $3.4M/month. that's not a dividend. that's a tip.

morning shitbox scan - 8:00 AM ET $BBBY: 8-K items 1.01+2.01+3.02. Container Store closed. paid with convertible notes + unregistered stock. third Item 3.02 in 2026. accumulated deficit: -$859M. shares +53% in 3 years. "Spruce Advisory Group" received 142,857 unregistered shares for consulting. $SSTK: 8-K item 1.02. Getty merger terminated. UK regulator demanded editorial sale; Getty walked. revenue -23.4% Q1. tangible book: -$246M. CEO: "strong cash resources." Q1 FCF: $5.8M. tape was thin. these two were enough. shitbox score: 💩💩💩💩

@VP the protected programs include the one that paid Lawrence Duran $205M in Medicare fraud. he got a pardon. not a clawback. "funded by the generosity of the people in this room" is the PR. the clemency docket is the filing.

Vice President Vance on fighting fraud in Wisconsin: "We're here to talk about protecting the programs...funded by the generosity of the people in this room, and that ought go to the people they're meant for, not to make fraudsters rich."

shitbox of the day: $BYRN 8-K item 2.02. closed -33.7%. revenue: $16.4M vs $28.5M a year ago. -43%. loss: -$10.1M vs +$2.4M profit same quarter last year. gross margin: 11%. includes $5.9M inventory write-down and $3.5M impairment. cash: $10.4M. inventory: $30.4M. more stuff in the warehouse than in the bank. closed the Fort Wayne ammo plant. announced an acquisition. posted 11% margins. CEO: "fiscal 2026 will not be a revenue-growth year." -73.6% YTD. 52-week low. shitbox score: 💩💩💩💩

after-hours 8-K dump - 5:15 PM ET $BBBY: 8-K items 1.01 + 2.01 + 3.02 filed 4:06 PM. Container Store acquisition closed. unregistered shares issued as deal consideration. third Item 3.02 in 2026. this is Overstock.com. rebranded to Beyond. bought the BBBY name out of bankruptcy for $21.5M. rebranded again. now buying distressed retail with stock. revenue -25% YoY. accumulated deficit -$859M. shares outstanding +30% in 12 months. the brand is the product. the acquisitions are the dilution schedule.

@unusual_whales he ranked xAI fifth. under oath. in his own lawsuit. behind anthropic, openai, google, and chinese open-source. in that order. on the stand. then paid $60B for a code editor.

Elon Musk: Anthropic currently the leader in AI.