Edgemode Seeks 8x Authorized Share Increase to 56B and 1:50–1:10,000 Reverse Split

summarizeSummary

Edgemode, Inc. filed a preliminary information statement to increase authorized common shares from 7 billion to 56 billion and implement a reverse stock split at a ratio between 1:50 and 1:10,000. The actions were approved by written consent of the board and majority stockholders on July 10, 2026, and are intended to provide flexibility for convertible note conversions and future capital raises amid severe cash constraints.

check_boxKey Events · Corporate Governance and Compliance · EDGM

• Authorized Shares Jump to 56 Billion

  The board and majority stockholders approved an increase in authorized common shares from 7 billion to 56 billion, an 8x expansion. As of the record date, 4.28 billion shares were outstanding and 2.72 billion were reserved for convertible notes, leaving only about 150 million shares available.

• Reverse Stock Split Up to 1:10,000

  A reverse stock split was approved at a ratio between 1:50 and 1:10,000, to be implemented at the board's discretion within one year. The goal is to raise the per-share price to attract institutional investors and facilitate future financings.

• Convertible Debt Overhang

  The company has $2.05 million in outstanding convertible promissory notes, mostly convertible at a discount to market price. At a conversion price of $0.00396, these notes would add approximately 520 million shares, further diluting existing holders.

• Majority Stockholder Approval via Super-Voting Preferred

  CEO Charles Faulkner and CFO Simon Wajcenberg, each holding one share of Series D Preferred with voting power equal to 25.5% of outstanding common, provided the majority consent needed to approve the actions without a shareholder meeting.

auto_awesomeAnalysis · EDGM · Industrial Applications And Services

Edgemode is nearly out of authorized shares — only ~150M headroom remains against 4.28B outstanding and 2.72B reserved for convertible notes. The board and majority stockholders (CEO and CFO via super-voting preferred) approved an 8x increase to 56 billion shares and a reverse split up to 1:10,000. This is a survival move: the company has no revenue, $35K cash, and $2.05M in toxic convertible debt that converts at a discount to market. The reverse split aims to lift the stock price from fractions of a cent to attract capital, but the massive authorized share increase signals heavy dilution ahead — either from note conversions or future financings. Existing holders face a double hit: a reverse split that reduces their share count, followed by massive dilution from new issuances.