NCPL — Netcapital Inc. Dilution Risk Tracker

Netcapital Inc. (NCPL) carries a DilutionScore of 84/100, placing it in the Critical dilution risk tier — the highest category tracked by DilutionWatch. Companies at this level typically have active capital-raising programs, compressed cash runway, or a combination of dilution vectors that together represent meaningful downside risk to share count. As of July 14, 2026, this score reflects real-time data pulled directly from SEC EDGAR filings.

The most significant dilution vector for NCPL is its shelf registration capacity of $9.2M. A shelf registration (typically an S-3 filing) gives a company pre-approved access to raise capital quickly without a traditional roadshow. The registered amount represents the maximum that can be raised — not necessarily what will be raised — but active shelves combined with tight cash positions are the pattern DilutionWatch monitors most closely. Cash runway is a key watch item: NCPL has approximately 3 months of runway at current burn rate. Companies with less than 18 months of runway are statistically more likely to file new shelf registrations or ATM programs within the next two quarters. DilutionWatch monitors SEC 10-Q filings to update this estimate each quarter.

DilutionWatch tracks over 25 SEC filing types for NCPL in real-time, scanning EDGAR every 60 seconds. A recent S-3 or registration statement filing appears in NCPL's filing history — this warrants monitoring for subsequent prospectus supplements (Form 424B), which indicate active capital raising. The DilutionWatch screener shows real-time score changes for NCPL alongside comparable critical-risk stocks. Not financial advice — this analysis is for informational purposes only.