GD Culture Group Ltd (GDC) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: October 29, 2025

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 360.34% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
56M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

GDC currently has 56M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 360.34% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Oct 29, 2025

8-K filing: GD Culture Group Limited completed a private placement of 1,333,334 shares of common stock at $2.10 per share, raising approximately $2,800,000 for working capital and general corporate purposes. ($2.8M proceeds)

56M 0
Sep 16, 2025

8-K filing: GD Culture Group Limited will acquire 100% of the issued and outstanding ordinary shares of Pallas Capital Holding Ltd from the Sellers, issuing 39,189,344 shares of common stock, representing 233.33% of the outstanding shares of common stock immediately before the Effective Date.

56M 0
Aug 12, 2025

10-Q filing | 15.3M shares outstanding

15M 0
May 15, 2025

10-Q filing | 16.8M shares outstanding

17M 0
May 08, 2025

8-K filing: GD Culture Group Limited completed its first closing of shares and pre-funded warrants on May 8, 2025, receiving gross proceeds of $4,500,000 before deducting fees and expenses. ($9.0M proceeds)

12M 0
May 06, 2025

8-K filing: GD Culture Group Limited entered into a securities purchase agreement with certain investors for the sale of 1,115,600 shares of common stock at $0.524 per share and 9,380,582 pre-funded warrants at $0.523 per warrant, resulting in gross proceeds of $5,500,000 before deductions.

12M 0
Apr 30, 2025

8-K filing: GD Culture Group Limited issued 2,444,295 shares of common stock at $2.36 per share to Gongzheng Xu and Qing Wang for $5,768,536.20, to purchase certain software for its AI business. ($5.77M proceeds)

12M 0
Mar 18, 2025

10-K filing | 12.3M shares outstanding

12M 0
Mar 07, 2025

8-K filing: GD Culture Group Limited sold 1,115,600 shares of common stock at $0.896379 per share in a private placement, receiving gross proceeds of $1,000,000, which will be used for working capital purposes; the offering closed on March 6, 2025. ($1.0M proceeds)

10M 0
Nov 14, 2024

10-Q filing | 10.5M shares outstanding

10M 0
Aug 14, 2024

10-Q filing | 9.3M shares outstanding

9.3M 0
Jul 19, 2024

S-3/A filing: GD Culture Group Limited may offer, from time to time, in one or more offerings, common stock, preferred stock, debt securities, warrants to purchase our common stock, preferred stock or debt securities, debt securities consisting of debentures, notes or other evidence of indebtedness, units consisting of a combination of the foregoing securities, or any combination of these securities, which we collectively refer to as the 'securities'.

9.6M 0
Jun 21, 2024

S-3/A filing: The company may offer common stock, preferred stock, debt securities, warrants, debentures, notes, or units up to an aggregate offering price of $100,000,000.

9.5M 0
Jun 06, 2024

8-K filing: GD Culture Group Limited issued 1,560,000 shares of common stock valued at $0.80 per share to Shanxi Gangdong Cultural Media Co., Ltd. for software, with the transaction completed on June 4, 2024. ($1.25M proceeds)

7.4M 0
May 20, 2024

10-Q filing | 7.4M shares outstanding

7.4M 0
May 06, 2024

S-3 filing: This is an S-3 filing by GD Culture Group Limited for the registration of common stock, preferred stock, and debt securities, with a total proposed amount of $100,000,000.

7.9M 0
Apr 02, 2024

10-K filing | 7.9M shares outstanding

7.9M 0
Mar 26, 2024

8-K filing: GD Culture Group Limited completed a registered direct offering of 810,277 shares of common stock at a price of $1.144 per share, resulting in net proceeds of approximately $830,000 for working capital and general corporate purposes. ($0.93M proceeds)

4.5M 0
Nov 20, 2023

10-Q filing | 4.5M shares outstanding

4.5M 0
Nov 17, 2023

8-K filing: GD Culture Group Limited completed an offering of 1,436,253 shares of common stock, pre-funded warrants for 1,876,103 shares, and registered warrants for 3,312,356 shares on November 3, 2023, at a price of $3.019 per share and $3.018 per pre-funded warrant.

3.1M 0
Nov 13, 2023

8-K filing: GD Culture Group Limited entered into an amended and restated equity purchase agreement on November 10, 2023, to issue 400,000 shares of common stock to Beijing Hehe or its assigns at a price of $2.7820 per share in exchange for 13.3333% equity interest in the Xianzhui Technology Co., Ltd. from Beijing Hehe.

3.1M 0
Nov 03, 2023

8-K filing: GD Culture Group Limited completed a registered direct offering, selling common stock, pre-funded warrants, and registered warrants, resulting in net proceeds of approximately $9.05 million.

3.1M 0
Oct 27, 2023

8-K filing: GD Culture Group Limited entered into an equity purchase agreement with Shanghai Highlight and Beijing Hehe, where Shanghai Highlight will purchase a 20% equity interest in the Joint Venture from Beijing Hehe, and the Company will issue 600,000 shares of common stock to Beijing Hehe or its assigns. ($1.67M proceeds)

3.1M 0
Aug 14, 2023

10-Q filing | 3.1M shares outstanding

3.1M 0
Jun 27, 2023

8-K filing: GD Culture Group Limited entered into a software purchase agreement with Northeast Management LLC and issued 187,500 shares of its common stock, valued at $4.00 per share, to purchase software for $750,000. ($0.75M proceeds)

2.9M 0
May 17, 2023

8-K filing: GD Culture Group Limited amended its securities purchase agreements and placement agency agreement, resulting in an increase in the purchase price of common shares and pre-funded warrants, as well as an increase in the exercise price of unregistered warrants and placement agent warrants, and will receive net proceeds of $84,972.60.

2.9M 0
May 15, 2023

10-Q filing | 2.9M shares outstanding

2.9M 0
May 04, 2023

8-K filing: GD Culture Group Limited completed a registered direct offering and concurrent private placement, selling common stock and warrants for net proceeds of approximately $8.53 million.

1.7M 0
Mar 31, 2023

10-K filing | 1.7M shares outstanding

1.7M 0
Mar 13, 2023

8-K filing: On March 9, 2023, GD Culture Group Limited cancelled 133,333 shares of common stock, after giving effect to the reverse stock split which became effective on November 9, 2022, pursuant to the Termination Agreement.

1.8M 0
Nov 14, 2022

10-Q filing | 1.8M shares outstanding

1.8M 0
Nov 09, 2022
Stock Split

8-K filing: Stock split 1-for-30 | Outstanding: 46,109,617 → 1,535,450

1.5M 0
Oct 05, 2022

8-K filing: Code Chain New Continent Limited issued 9,000,000 shares of common stock to the Target Shareholders for the acquisition of Shanghai Highlight Media Co., Ltd. through a VIE structure, with the shares valued at $1.00 per share, with the acquisition completed on September 29, 2022. ($9.0M proceeds)

46M 0
Sep 26, 2022

8-K filing: Code Chain New Continent Limited and Sichuan RiZhanYun Jisuan Co., Ltd. agreed to rescind the asset purchase agreement and cancel the 2,513,294 shares of common stock previously issued to the Seller's designee.

46M 0
Sep 19, 2022

8-K filing: Code Chain New Continent Limited entered into a Share Purchase Agreement with Shanghai Highlight Media Co., Ltd. and its shareholders to issue 9,000,000 shares of common stock at $0.25 per share in exchange for entering into VIE Agreements with Makesi IoT Technology (Shanghai) Co., Ltd. ($2.25M proceeds)

46M 0
Aug 22, 2022

10-Q filing | 46.1M shares outstanding

46M 0
Jun 27, 2022

8-K filing: Code Chain New Continent Limited issued 7,680,000 shares of common stock to Yuanma Shareholders at $1.00 per share in exchange for entering into VIE Agreements. ($7.68M proceeds)

38M 0
May 16, 2022

10-Q filing | 38.4M shares outstanding

38M 0
Apr 14, 2022

8-K filing: Code Chain New Continent Limited entered into a Share Purchase Agreement to issue 7,680,000 shares of common stock to Yuanma Shareholders in exchange for Yuanma Shareholders' agreement to enter into certain agreements with Makesi IoT Technology (Shanghai) Co., Ltd. ($7.68M proceeds)

38M 0
Mar 31, 2022

10-K filing | 38.4M shares outstanding

38M 0
Nov 22, 2021

10-Q filing | 46.1M shares outstanding

46M 0
Aug 12, 2021

10-Q filing | 38.4M shares outstanding

38M 0
Aug 03, 2021

8-K filing: Code Chain New Continent Limited entered into an asset purchase agreement to purchase digital currency mining machines from a seller for $16,442,109.95, payable in 7,647,493 shares of common stock valued at $2.15 per share. ($16.44M proceeds)

36M 0
Jun 01, 2021

8-K filing: Code Chain New Continent Limited issued 2,513,294 shares of common stock to the Seller's designee on June 1, 2021, at a price of $2.51 per share.

36M 0
May 14, 2021

10-Q filing | 35.9M shares outstanding

36M 0
Mar 31, 2021

8-K filing: Code Chain New Continent Limited sold all issued and outstanding ordinary shares of Tongrong Technology (Jiangsu) Co., Ltd. to an unaffiliated buyer in exchange for the cancellation of 426,369 shares of the Company's common stock owned by the Payee, valued at $5.78 per share. ($2.46M proceeds)

21M 2.7M
Mar 26, 2021

10-K filing | 20.8M shares outstanding

21M 2.7M
Mar 24, 2021

S-3/A filing: The filing registers an indeterminate number of shares of common stock, preferred stock, debt securities, convertible debt securities, warrants, rights, and a combination of such securities with an aggregate initial offering price not to exceed $500,000,000.

36M 0
Mar 16, 2021

S-3 filing: Code Chain New Continent Limited files an S-3 form for a shelf offering of common stock, preferred stock, debt securities, convertible debt securities, warrants, rights, or a combination of these securities, or units, for an aggregate offering price of up to $500 million.

36M 0
Mar 15, 2021

S-3 filing: This S-3 filing registers for resale up to 2,735,637 shares of common stock underlying warrants issued to certain institutional investors and a placement agent.

36M 0
Feb 22, 2021

8-K filing: Code Chain New Continent Limited closed a registered direct offering and a concurrent private placement, selling 4,166,666 shares of common stock and warrants to purchase additional shares, receiving gross proceeds of $24,999,996 before deducting fees and expenses. ($25.0M proceeds)

21M 0
Feb 18, 2021

8-K filing: Code Chain New Continent Limited entered into a securities purchase agreement with institutional investors for the issuance of 4,166,666 common shares, registered investor warrants to purchase up to 1,639,362 common shares, and unregistered investor warrants to purchase up to 2,527,304 common shares, for an aggregate purchase price of $24,999,996. ($25.0M proceeds)

21M 0
Jan 11, 2021

8-K filing: Code Chain New Continent Limited entered into a Share Purchase Agreement with Chengdu Ma Shang Pai Auction Co., Ltd. and its shareholders to issue 5,500,000 shares of common stock in exchange for the agreement to enter into certain VIE agreements. ($9.68M proceeds)

21M 0
Nov 13, 2020

10-Q filing | 20.8M shares outstanding

21M 0
Aug 13, 2020

10-Q filing | 20.8M shares outstanding

21M 0
Aug 12, 2020

8-K filing: Code Chain New Continent Limited issued 1,674,438 shares of its common stock at a price of $1.50 per share, resulting in gross proceeds of approximately $2.51 million. ($2.51M proceeds)

21M 0
Jul 06, 2020

8-K filing: Code Chain New Continent Limited sold all the issued and outstanding ordinary shares of China Sunlong Environmental Technology Inc. to Jiazhen Li for $1,732,114, payable in consideration of cancellation of 1,012,932 shares of the Company owned by the Payees. ($1.73M proceeds)

21M 0
Jun 26, 2020

10-Q filing | 20.8M shares outstanding

21M 0
May 01, 2020

8-K filing: TMSR Holding Company Limited entered into a securities purchase agreement to sell 5,695,073 shares of its common stock at $1.50 per share, with gross proceeds of approximately $8.54 million, subject to customary closing conditions and regulatory approvals. ($8.54M proceeds)

29M 0
Apr 17, 2020

10-K filing | 28.5M shares outstanding

29M 0
Jan 03, 2020

8-K filing: TMSR Holding Company Limited entered into a Share Purchase Agreement with Sichuan Wuge Network Games Co., Ltd. and its shareholders, issuing 4,000,000 shares of TMSR's common stock in exchange for the agreement to enter into certain VIE agreements with Tongrong Technology (Jiangsu) Co., Ltd.

N/A 0
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