$LRGR We've seen some comments suggesting that recent trading activity may be the result of undisclosed dilution. We hope this filing helps clarify that this is not the case.
One important item reflected in the filing is that our fully diluted share exposure declined in every reporting period during 2025, with a significant reduction in Q4 following the settlement of the Company's legacy convertible notes. Those legacy notes represented the majority of the Company's potential dilution.
As reflected in the financial statements, the dilutive effect of those legacy notes was eliminated in Q4 2025 as a result of the settlement. The shares associated with that settlement had not yet been issued as of December 31, 2025, and therefore are not reflected in the period-end outstanding share count.
Based on the settlement, management estimates the Company's fully diluted common share exposure would be approximately 60 million shares, plus or minus, compared to approximately 90 million shares, plus or minus, during the first three quarters of 2025.
As disclosed in our Q1 2026 filing, no material changes to the Company's common share count have occurred other than those previously disclosed publicly.
$LRGR As our investors are aware, when we filed our 2025 year-end financial statements on March 31, 2026, we adopted a new accounting treatment recommended by our auditing firm. While it was permissible to implement the change at year-end without restating each quarter, the result made our quarter-by-quarter 2025 performance more difficult to follow.
To provide greater clarity, yesterday we refiled our 2025 financial statements with full quarterly detail reflecting the revised accounting treatment. We believe this allows investors to more easily track the Company's growth and operating performance throughout 2025 on a quarter-by-quarter basis and provides a more meaningful foundation for comparison as we continue executing our 2026 business plan.
A press release with additional details will follow shortly.
@StockHobit Craig, I believe they take a snapshot at a specific point in time. I don't believe the conference is under any obligation to update a company's market capitalization on a daily basis or otherwise after that snapshot is taken.
That's certainly one interpretation. What's great about public companies is that investors don't have to rely on social media opinions—positive or negative. Our public filings, financial results, and disclosures are available for everyone to review and form their own conclusions. We're focused on executing our business plan and creating long-term shareholder value.