EUROSEAS LTD. (ESEA) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Medium Risk

Moderate dilution risk

Last updated: April 29, 2026

Risk Assessment Details

Potential Dilution: 92.44% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

6.9M

Potential Supply

6.4M

Additional shares possible

Splits

None

Past 2 years

Summary

ESEA currently has 6.94M outstanding shares. with significant dilution risk as 6.41M authorized shares could dilute existing holders by 92.4%. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Apr 29, 2026	20-F filing \| 6.9M shares outstanding	6.9M	6.4M
May 15, 2025	20-F filing \| 7.2M shares outstanding	7.2M	6.4M
Apr 30, 2024	20-F filing \| 7.0M shares outstanding	7M	6.4M
Apr 28, 2023	20-F filing \| 7.3M shares outstanding	7.3M	6.4M
Dec 07, 2022	F-3 filing: This F-3 filing relates to the proposed sale of up to 4,041,943 common shares by selling shareholders.	7.1M	6.4M
Apr 22, 2022	20-F filing \| 6.7M shares outstanding	6.7M	2.4M
Apr 28, 2021	20-F filing \| 6.7M shares outstanding	6.7M	2.4M
Apr 30, 2020	20-F filing \| 5.6M shares outstanding	5.6M	2.4M
Mar 12, 2020	F-3 filing: This F-3 filing relates to the proposed sale from time to time of up to 2,369,950 common shares by selling shareholders, which were acquired in private transactions or in the open market or which are issuable upon conversion of Series B Preferred Shares or any convertible notes into which the Series B Preferred Shares may convert.	5.6M	2.4M

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