Headline fired into after-hours — what does management do? Two paths on the same loop

Selling into the spike: the raise refills the runway, but the added shares cap the rally and pull it back toward value.

The micro-cap equity-funding loop: cash burn, headline spike, dilution into strength, fade A draining cash reservoir against the quarterly burn, a headline that re-opens the equity-sale window, shares sold into the spike that refill cash but swell the float, capping the pop and reverting price toward fundamentals. cash + revenue value prior pop raise capped it, then it faded 2 · headline fires Air Force OTA, after-hours past quarters now supply cap +86% +86% no supply cap 5 · fade toward value reversion is terminal share supply · small float new shares 4 · new supply caps the pop 1 · cash reservoir draining runway going-concern doubt quarterly operating loss plus convertible debt new shares offering stock 3 · sell into the pop equity sale gate sell window open sell window unused raise refills runway to float loop resets: thin cash → the next headline fires

solid = equity flows into the pop · dashed = cash burning out · price follows the spike down to honest value