Kartoon Studios, Inc. (TOON) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 24, 2026

Risk Assessment Details

Potential Dilution: 78.82% of current shares
Recent Dilution: 42.68% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
56M
Potential Supply
44M
Additional shares possible
Splits
None
Past 2 years

Summary

TOON currently has 56.3M outstanding shares. with significant dilution risk as 44.4M authorized shares could dilute existing holders by 78.8%. The company has significantly diluted shareholders by 42.68% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 24, 2026

8-K filing: Kartoon Studios, Inc. issued 2,553,047 shares of its common stock to Continuation Capital, Inc. in exchange for the settlement of past due obligations and accounts payable of the Company in the aggregate amount of $1,143,884 and an additional amount of $315,000. ($1.46M proceeds)

56M 44M
Mar 31, 2026

10-K filing | 56.3M shares outstanding

56M 44M
Nov 28, 2025

8-K filing: The Company entered into an agreement with Continuation Capital, Inc. to pay obligations by issuing 1,705,071 shares of its common stock to CCI, with the agreement becoming binding on November 26, 2025, upon NYSE American approval. ($0.97M proceeds)

54M 47M
Nov 14, 2025

10-Q filing | 53.9M shares outstanding

54M 47M
Oct 21, 2025

8-K filing: Kartoon Studios, Inc. entered into a securities purchase agreement for a registered direct offering of 3,000,000 shares of common stock and pre-funded warrants to purchase up to 6,903,049 shares, along with a concurrent private placement of common warrants to purchase up to 9,903,049 shares, with expected gross proceeds of approximately $7.3 million. ($7.31M proceeds)

48M 53M
Sep 05, 2025

8-K filing: Kartoon Studios, Inc. issued 3,148,535 shares of its common stock to Continuation Capital, Inc. to pay obligations in the aggregate amount of $1,799,162.60, pursuant to an exemption from the registration requirements under Section 3(a)(10) of the Securities Act of 1933. ($1.8M proceeds)

48M 53M
Aug 14, 2025

10-Q filing | 47.8M shares outstanding

48M 53M
May 15, 2025

10-Q filing | 46.7M shares outstanding

47M 54M
Mar 31, 2025

10-K filing | 47.8M shares outstanding

48M 53M
Dec 18, 2024

8-K filing: Kartoon Studios, Inc. consummated a public offering of 4,375,000 shares of common stock, pre-funded warrants to purchase up to 3,519,736 shares of common stock, Series A common warrants to purchase up to 7,894,736 shares of common stock and Series B common warrants to purchase up to 7,894,736 shares of common stock, receiving aggregate gross proceeds of approximately $4.5 million. ($4.49M proceeds)

44M 57M
Dec 17, 2024

POS AM filing: This is a POS AM filing related to the offering of shares of common stock, pre-funded warrants, Series A common warrants, Series B common warrants, and placement agent warrants.

40M 61M
Dec 16, 2024

S-1/A filing: This S-1/A filing relates to an offering of up to $14,681,250 of the company's securities, including shares of common stock (or pre-funded warrants in lieu thereof), Series A and Series B common stock purchase warrants, and placement agent warrants.

40M 63M
Dec 11, 2024

S-1/A filing: This is a reasonable best efforts offering of Common Stock and accompanying Series A Common Warrants and Series B Common Warrants or Pre-Funded Warrants and accompanying Common Warrants for working capital and general corporate purposes.

40M 63M
Nov 22, 2024

S-1/A filing: This S-1/A filing relates to the registration of shares of common stock and accompanying warrants, or pre-funded warrants with accompanying warrants, for a proposed offering amount of $7.0 million, intended for working capital and general corporate purposes.

40M 63M
Nov 14, 2024

10-Q filing | 39.5M shares outstanding

39M 72M
Oct 18, 2024

S-1/A filing: This is an offering of up to 10,000,000 shares of common stock or pre-funded warrants to purchase common stock on a best efforts basis through Roth Capital Partners.

40M 72M
Sep 27, 2024

S-1 filing: The company is offering common stock and pre-funded warrants on a best efforts basis, with Roth Capital Partners acting as the placement agent.

40M 61M
Aug 14, 2024

10-Q filing | 38.4M shares outstanding

38M 62M
May 15, 2024

10-Q filing | 39.4M shares outstanding

39M 61M
Apr 24, 2024

8-K filing: Kartoon Studios, Inc. announced the initial closing of its registered direct offering, selling 3,900,000 shares of common stock and pre-funded warrants to purchase up to 100,000 shares to an institutional investor at $1.00 per share and $0.99 per warrant, for gross proceeds of approximately $4,000,000. ($4.0M proceeds)

34M 67M
Apr 19, 2024

8-K filing: Kartoon Studios, Inc. entered into a securities purchase agreement to issue and sell up to 7,000,000 shares of common stock and/or pre-funded Common Stock purchase warrants to certain institutional investors in up to four closings, with the initial closing offering 4,000,000 shares and/or warrants at $1.00 per share or $0.99 per warrant.

34M 67M
Apr 09, 2024

10-K filing | 33.7M shares outstanding

34M 67M
Dec 22, 2023

S-3 filing: Kartoon Studios, Inc. is offering common stock, preferred stock, warrants, debt securities, rights to purchase common stock or other securities or units having a maximum aggregate offering price of $75,000,000.

32M 68M
Nov 17, 2023

10-Q filing | 35.1M shares outstanding

35M 13M
Nov 17, 2023

S-3/A filing: This prospectus relates to the possible resale by the selling stockholders of an aggregate of up to 4,784,909 shares of common stock issuable upon exercise of certain outstanding Common Stock purchase warrants.

32M 16M
Aug 14, 2023

10-Q filing | 32.4M shares outstanding

32M 16M
Jul 26, 2023

S-3 filing: This prospectus relates to the possible resale by the selling stockholders named in this prospectus of an aggregate of up to 4,784,909 shares of common stock of Kartoon Studios, Inc., issuable upon exercise of certain outstanding Common Stock purchase warrants, issued by us to the selling stockholders on June 26, 2023.

35M 13M
Jul 03, 2023

8-K filing: The Company issued 2,376,550 shares of Common Stock to exercising warrant holders, resulting in approximately $6.0 million gross proceeds and issued new warrants to purchase up to 4,753,100 shares of Common Stock. ($6.4M proceeds)

32M 12M
Jun 27, 2023

8-K filing: The Company entered into letter agreements with certain investors to exercise outstanding common stock purchase warrants, resulting in gross proceeds of approximately $6.0 million and the issuance of new warrants.

32M 12M
May 22, 2023

10-Q filing | 32.0M shares outstanding

32M 23M
Apr 13, 2023

10-K filing | 31.4M shares outstanding

31M 24M
Feb 10, 2023
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 317,282,770 → 31,847,753

32M 23M
Nov 14, 2022

10-Q filing | 317.3M shares outstanding

320M 230M
Aug 17, 2022

10-Q filing | 315.5M shares outstanding

320M 240M
May 16, 2022

10-Q filing | 303.8M shares outstanding

300M 250M
May 12, 2022

S-1 filing: This S-1 filing relates to the registration of shares of common stock issuable upon exchange, retraction or redemption of exchangeable shares of Wow Exchange Co Inc., a wholly-owned Canadian subsidiary, in connection with the acquisition of Wow Unlimited Media, Inc.

320M 240M
Apr 06, 2022

10-K filing | 297.5M shares outstanding

300M 250M
Dec 06, 2021

8-K filing: Genius Brands International, Inc. entered into a Share Purchase Agreement to acquire 3,000,000 shares of Your Family Entertainment Aktiengesellschraft and issued 2,281,269 shares of its common stock as part of the consideration.

300M 250M
Nov 15, 2021

10-Q filing | 301.0M shares outstanding

300M 250M
Aug 16, 2021

10-Q filing | 301.0M shares outstanding

300M 250M
Mar 31, 2021

10-K filing | 300.3M shares outstanding

300M 250M
Feb 02, 2021

8-K filing: Genius Brands International, Inc. acquired ChizComm Ltd. and ChizComm USA Corp. for $8.5 million in cash and 1,966,292 shares of common stock, with a portion of the shares held in escrow and the potential for additional shares based on performance. ($3.5M proceeds)

220M 330M
Feb 02, 2021

S-3 filing: This S-3 filing registers 39,740,500 shares of common stock for resale by selling stockholders, issuable upon exercise of certain outstanding common stock purchase warrants.

300M 250M
Jan 28, 2021

8-K filing: Genius Brands International, Inc. entered into letter agreements with certain existing institutional and accredited investors to exercise warrants to purchase up to 39,740,500 shares of the Company's common stock at $1.55 per share. The gross proceeds to the Company from the Exercise are expected to be approximately $61.6 million. ($61.6M proceeds)

220M 220M
Nov 19, 2020

8-K filing: Andy Heyward, CEO of Genius Brands International, Inc., converted all remaining outstanding shares of the Company's Series A Convertible Preferred Stock into 476,190 shares of the Company's common stock.

220M 220M
Nov 17, 2020

8-K filing: Genius Brands International, Inc. entered into a binding letter of intent to acquire ChizComm Ltd. and ChizComm USA Corp. for $8,500,000 in cash and $3,500,000 in shares of common stock at closing, with up to $8,000,000 in additional shares to be issued over four years based on performance.

220M 220M
Nov 16, 2020

10-Q filing | 219.0M shares outstanding

220M 220M
Oct 30, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement with certain investors to issue and sell 37,400,000 shares of common stock and warrants to purchase up to 37,400,000 shares at a purchase price of $1.55 per combination, for gross proceeds of approximately $57.9 million, which closed on October 30, 2020. ($57.9M proceeds)

220M 220M
Sep 04, 2020

S-3 filing: Genius Brands International, Inc. intends to issue up to $100,000,000 of common stock, preferred stock, and debt securities from time to time at prices and on terms to be determined at or prior to the time of the offering.

220M 220M
Aug 14, 2020

10-Q filing | 218.9M shares outstanding

220M 120M
Jun 26, 2020

S-3 filing: This is an S-3 filing for the resale of 59,523,812 shares of common stock previously issued upon conversion of Senior Secured Convertible Notes and also mentions direct offerings of common stock at various dates and prices.

50M 290M
Jun 23, 2020

8-K filing: Genius Brands International, Inc. entered into conversion agreements with its holders of senior secured convertible notes to convert an aggregate principal amount of $13,750,000 into 65,476,191 shares of common stock.

50M 200M
Jun 18, 2020

8-K filing: Genius Brands International, Inc. issued warrants to purchase common stock to Oak Productions, Inc. and MSA Advisors, LLC as compensation.

50M 200M
Jun 04, 2020

S-3 filing: This S-3 filing registers for resale 60,100,617 shares of common stock by selling stockholders, consisting of shares previously issued upon cashless exercise of warrants and shares issuable upon exercise of outstanding warrants at $0.21 per share.

50M 200M
May 28, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement to issue and sell 20,000,000 shares of common stock at $1.50 per share in a registered direct offering, for gross proceeds of $30.0 million. ($30.0M proceeds)

50M 140M
May 18, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement to issue and sell 7,500,000 shares of common stock at $1.20 per share for gross proceeds of $9.0 million in a registered direct offering. ($9.0M proceeds)

30M 160M
May 18, 2020

10-Q filing | 49.6M shares outstanding

50M 140M
May 15, 2020

8-K filing: Genius Brands International, Inc. completed a financing on March 17, 2020, involving the issuance of Senior Secured Convertible Notes and warrants to purchase common stock to accredited investors, as well as warrants to the Placement Agent.

30M 160M
May 08, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement to issue and sell 12,000,000 shares of common stock at $0.454 per share in a registered direct offering, with gross proceeds of $5.448 million before fees. ($5.45M proceeds)

30M 160M
May 07, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement to issue and sell 8,000,000 shares of common stock at $0.35 per share in a registered direct offering for gross proceeds of $2.8 million. ($2.8M proceeds)

30M 160M
Mar 30, 2020

10-K filing | 29.6M shares outstanding

30M 160M
Mar 23, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement to issue and sell 4,000,000 shares of common stock at $0.2568 per share for gross proceeds of approximately $1.0 million in a registered direct offering. ($1.0M proceeds)

26M 160M
Mar 11, 2020

8-K filing: Genius Brands International, Inc. entered into a Securities Purchase Agreement to sell Senior Secured Convertible Notes and warrants, with Andy Heyward, the Company's Chairman and Chief Executive Officer, participating as an Investor.

26M 160M
Jan 31, 2020

S-1/A filing: This prospectus relates to the resale of up to 477,474 shares of our common stock issuable upon exercise of certain outstanding warrants issued by us in a private placement.

26M 160M
Jan 17, 2020

S-3 filing: Genius Brands International, Inc. intends to offer up to $50,000,000 of any combination of common stock, preferred stock, debt securities, or purchase contracts.

23M 170M
Jan 16, 2020

8-K filing: Holders of Series A Convertible Preferred Stock converted 666 shares into 3,171,428 shares of common stock. The company now has 25,049,152 shares of common stock issued and outstanding.

25M 0
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