Kandal M Venture Ltd (FMFC) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Medium Risk

Moderate dilution risk

Last updated: July 07, 2026

Risk Assessment Details

Potential Dilution: 236.69% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

13M

Potential Supply

31M

Additional shares possible

Splits

None

Past 2 years

Summary

FMFC currently has 13M outstanding shares. with significant dilution risk as 30.8M authorized shares could dilute existing holders by 236.7%. 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
Jul 07, 2026	F-3 filing: This prospectus relates to the resale of up to 30,769,230 Class A ordinary shares issuable upon the conversion of senior convertible promissory notes with an aggregate principal amount of $25,000,000.	13M	31M
Jul 30, 2025	20-F filing \| 13.0M shares outstanding	13M	0
Oct 23, 2024	F-1 filing: This is an F-1 filing for an initial public offering of Class A Ordinary Shares.	N/A	0

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