FIREFLY NEUROSCIENCE, INC. (AIFF) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: March 31, 2026

Risk Assessment Details

Potential Dilution: 8.87% of current shares
Recent Dilution: 5671.09% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
14M
Potential Supply
1.2M
Additional shares possible
Splits
None
Past 2 years

Summary

AIFF currently has 14M outstanding shares. with limited dilution risk as only 1.24M additional shares (8.9%) are authorized for issuance. The company has significantly diluted shareholders by 5671.09% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 31, 2026

10-K filing | 14.0M shares outstanding

14M 1.2M
Mar 12, 2026

8-K filing: Firefly Neuroscience, Inc. entered into a securities purchase agreement to issue and sell up to 13,500,000 units at $1.50 per unit, with an initial closing of 1,500,000 Units for $2,250,000. ($4.5M proceeds)

13M 1.7M
Dec 03, 2025

S-3 filing: Firefly Neuroscience, Inc. files an S-3 registration statement for a shelf offering of common stock, preferred stock, debt securities, and subscription rights, with an aggregate offering price not to exceed $250,000,000.

13M 1.7M
Nov 12, 2025

10-Q filing | 13.5M shares outstanding

13M 1.7M
Aug 13, 2025

10-Q filing | 12.7M shares outstanding

13M 2.5M
Jul 18, 2025

S-1 filing: This S-1 filing registers an aggregate of 6,009,281 shares of common stock for resale by selling shareholders and also includes finder's warrants for Canaccord Genuity Corp. and Research Capital Corporation.

12M 3.5M
Jun 16, 2025

8-K filing: Firefly Neuroscience, Inc. entered into a securities purchase agreement to issue and sell $2,000,000 of units to accredited investors at $3.00 per unit, with each unit consisting of common stock or a prefunded warrant, and common stock purchase warrants. ($1.2M proceeds)

12M 0
May 14, 2025

10-Q filing | 11.7M shares outstanding

12M 0
May 05, 2025

8-K filing: Firefly Neurosciences Inc. purchased all of the issued and outstanding shares of Evoke Neuroscience, Inc. for cash and stock. ($3.0M proceeds)

8.1M 1.1M
Apr 24, 2025

8-K filing: The company issued shares of common stock to BPY Limited, Nomis Bay Ltd, and 1128526 Alberta Ltd. to induce warrant exercises and settle a dispute.

8.1M 1.1M
Apr 03, 2025

10-K filing | 8.1M shares outstanding

8.1M 1.1M
Feb 07, 2025

S-1 filing: This S-1 filing relates to the offer and resale of up to 4,534,666 shares of common stock, including shares issuable upon conversion of a convertible promissory note and exercise of a common stock purchase warrant, as well as shares that the company may elect to sell to Arena Business Solutions Global SPC II, Ltd pursuant to a purchase agreement.

3.7M 5.5M
Jan 29, 2025

S-1/A filing: This S-1/A filing relates to the offer and sale of an aggregate of 2,559,645 shares of common stock by selling securityholders, including shares issuable upon the exercise of warrants.

35M 0
Jan 13, 2025

S-1/A filing: This S-1/A filing relates to the offer and sale of up to 2,559,645 shares of common stock by selling securityholders, including shares issuable upon the exercise of pre-funded warrants, private placement warrants, Series C warrants, Series D warrants, and broker warrants.

35M 0
Dec 23, 2024

8-K filing: Firefly Neuroscience, Inc. entered into a security purchase agreement with Helena Special Opportunities LLC for gross proceeds up to USD$2.4 million through a private placement for the issuance of a convertible promissory note, and also entered into a purchase agreement with Arena Business Solutions Global SPC II, Ltd for up to USD$10 million in shares of common stock.

35M 0
Dec 04, 2024

S-1/A filing: This S-1/A filing relates to the offer and sale of an aggregate of 2,559,645 shares of common stock by selling securityholders, including shares issued upon conversion of Series C Preferred Stock, PIPE Shares, and shares issuable upon exercise of warrants.

35M 0
Nov 14, 2024

10-Q filing | 8.5M shares outstanding

8.5M 0
Sep 27, 2024

S-1 filing: This S-1 filing registers the offer and sale of shares of common stock by selling securityholders, including shares issuable upon exercise of pre-funded warrants, private placement warrants, Series C warrants, Series D warrants, and broker warrants.

35M 0
Aug 19, 2024

10-Q filing | 0.7M shares outstanding

670K 2.4M
Jul 29, 2024

8-K filing: WaveDancer, Inc. entered into a securities purchase agreement with an institutional investor to issue and sell shares of common stock and warrants in a private placement expected to close substantially contemporaneous with the consummation of the Merger. ($3.5M proceeds)

2M 1.1M
May 14, 2024

10-Q filing | 2.0M shares outstanding

2M 1.1M
Mar 20, 2024

10-K filing | 1.9M shares outstanding

1.9M 1.1M
Nov 13, 2023

10-Q filing | 1.9M shares outstanding

1.9M 1.1M
Oct 11, 2023
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 19,259,834 → 1,925,983

1.9M 1.2M
Aug 11, 2023

10-Q filing | 19.3M shares outstanding

19M 12M
May 22, 2023

10-Q filing | 19.2M shares outstanding

19M 12M
May 04, 2023

8-K filing: WaveDancer, Inc. settled litigation with Jeffrey Gerald, satisfying amounts due from the Gray Matters, Inc. acquisition, including $1,500,000 of deferred consideration, releasing 436,481 shares of the Company's common stock from escrow 90 days after the settlement date, and paying Gerald $25,000 for legal costs.

18M 13M
Apr 17, 2023

10-K filing | 18.1M shares outstanding

18M 13M
Nov 21, 2022

10-Q filing | 18.4M shares outstanding

18M 13M
Aug 16, 2022

8-K filing: The Company sold 1,562,506 shares of common stock at $1.20 per share in a private placement offering, raising $1,875,000. The private placement offering is completed. ($1.88M proceeds)

17M 14M
Aug 15, 2022

10-Q filing | 17.4M shares outstanding

17M 14M
Aug 08, 2022

S-1/A filing: This prospectus relates to the offer and resale of up to 4,500,000 shares of common stock of WaveDancer, Inc. by B. Riley Principal Capital II, LLC, where the company may receive up to $15,000,000 in aggregate gross proceeds from sales of our Common Stock to the Selling Stockholder.

17M 14M
Aug 04, 2022

S-1/A filing: This S-1/A filing relates to the offer and resale of up to 4,500,000 shares of common stock of WaveDancer, Inc. by B. Riley Principal Capital II, LLC, which includes shares that WaveDancer may elect to issue and sell to B. Riley pursuant to a common stock purchase agreement.

17M 13M
Jul 11, 2022

8-K filing: WaveDancer, Inc. entered into a Common Stock Purchase Agreement with B. Riley Principal Capital II, LLC, allowing the Company to sell up to $15,000,000 of its common stock to the Selling Stockholder.

17M 4.4M
Jul 11, 2022

S-1 filing: This prospectus relates to the offer and resale of up to 4,500,000 shares of common stock of WaveDancer, Inc. by B. Riley Principal Capital II, LLC.

17M 4.5M
May 16, 2022

10-Q filing | 17.3M shares outstanding

17M 0
Apr 12, 2022

10-K filing | 17.2M shares outstanding

17M 0
Mar 24, 2022

8-K filing: WaveDancer, Inc. entered into a Stock and Warrant Purchase Agreement to acquire Knowmadics, Inc. for $90,000,000, comprising cash, Company common stock, and options to purchase Company common stock, subject to stockholder approval and the raising of necessary funds. ($27.67M proceeds)

13M 0
Dec 16, 2021

8-K filing: On December 10, 2021, WaveDancer, Inc. sold 3,289,525 units of common stock and warrants in a private placement offering for gross proceeds of $10,000,000, and issued 436,481 shares of common stock valued at $1,500,000 as partial consideration for the acquisition of GMI shares. ($10.0M proceeds)

13M 0
Nov 02, 2021

10-Q filing | 12.6M shares outstanding

13M 0
Aug 30, 2021

8-K filing: On August 26, 2021, Information Analysis Incorporated sold 1,400,000 shares of its common stock at $2.00 per share, issuing warrants for an additional 1,400,000 shares. ($2.8M proceeds)

12M 0
Aug 23, 2021

10-Q filing | 12.0M shares outstanding

12M 0
May 17, 2021

10-Q filing | 12.3M shares outstanding

12M 0
Apr 14, 2021

8-K filing: Information Analysis Incorporated purchased Tellenger, Inc. and issued shares of common stock as partial consideration. They also sold shares of common stock at $1.50 per share. ($0.74M proceeds)

11M 0
Mar 31, 2021

10-K filing | 11.2M shares outstanding

11M 0
Nov 16, 2020

10-Q filing | 11.2M shares outstanding

11M 0
Aug 14, 2020

10-Q filing | 11.2M shares outstanding

11M 0
May 15, 2020

10-Q filing | 11.2M shares outstanding

11M 0
Mar 30, 2020

10-K filing | 11.2M shares outstanding

11M 0
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