Exousia Bio Faces Liquidity Crisis with Past-Due, Highly Dilutive Convertible Note
LMMY has more than doubled off its 52-week low of $0.06 on light trading volume (0.1× avg).
Summary
Exousia Bio, Inc. reported a going concern warning, no cash, and a past-due $250,000 convertible note with highly dilutive conversion terms, signaling severe financial distress.
Key Events · Financing and Capital Events · LMMY
-
Going Concern Warning Issued
The company explicitly stated a going concern warning, reporting no cash and a working capital deficit of $261,023 as of February 28, 2026, raising substantial doubt about its ability to continue operations.
-
Convertible Note Past Due with High Dilution Risk
A $250,000 convertible promissory note, issued on January 20, 2026, matured on March 26, 2026, and is now past due. The note's conversion price can drop to 10% of the market price, potentially leading to over 10% dilution for existing shareholders if converted.
-
21 Million Shares Rescinded
Effective March 14, 2026, 21,000,000 common shares previously issued in the Exousia AI acquisition were canceled due to a mistake of fact, reducing the total outstanding shares from 70,000,000 to 49,000,000 (before other adjustments).
-
New IP License and Service Agreement
Effective May 1, 2026, the company entered an exclusive intellectual property license agreement for a 6% royalty on net sales and a service agreement with ProgeniX Bio, Inc. for a monthly fee of $10,000, adding to cash burn.
Analysis · LMMY · Trade & Services
Exousia Bio, Inc. is in a critical financial state, explicitly stating a going concern warning due to no cash and a significant working capital deficit. The company has a $250,000 convertible promissory note that matured on March 26, 2026, and is now past due. The conversion terms are highly dilutive, with the price dropping to as low as 10% of the market price, potentially leading to over 10% dilution if converted. This immediate debt obligation, coupled with a new $10,000 monthly service fee for its biotech operations, poses a severe threat to the company's solvency and existing shareholder value. While 21,000,000 shares from a prior acquisition were rescinded, reducing overall dilution, it does not resolve the immediate liquidity and debt crisis.
How filings like this one have moved
In the 30 days to Sep 17, 2026, 40.7% of the 383 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.55%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LMMY was trading at $0.44 on OTC in the Trade & Services sector. The 52-week trading range was $0.06 to $16.00. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.