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JBDI$2.40-2.83%

JBDI Holdings Ltd

Sector: Metal Shipping Barrels, Drums, Kegs & PailsIndustry: Industrial - DistributionCountry: SGExchange: Nasdaq

Mkt Cap$22.83M
Float & O/S
Inst Own

DilutionScan read 30 of JBDI Holdings Ltd's SEC filings and found 1 convertible and 1 S-1 registration on file for JBDI. The latest dilution event on file is a registration statement on Feb 8, 2024. Analysis updated Oct 5, 2026.

Signal8 Summary

20h old

JBDI

Profitable micro-cap pivoting into massive dilution risk

Business
MixedRevenue $8.5M flat, net income $120K, FCF -$462K
Stock risk
High$9.3M micro-cap, 2026 reverse split, $900M convertible-note dilution risk

Snapshot

JBDI is a small, profitable Singapore drum-reconditioning distributor: FY2026 revenue was $8.5M with a $120K net profit, but free cash flow was negative $462K. The stock trades near its 52-week low after a 1-for-2 reverse split in June 2026.

What's Happening Right Now

  • : After shareholders approved it at the Oct 22, 2026 meeting, JBDI's new dual-class share structure (Class A, one vote; Class B, 100 votes, held by Eug Investment Limited) is set to take effect on Nasdaq on November 2, 2026, entrenching insider voting control.
  • : On Oct 12, 2026, JBDI agreed to buy Glorian Capital (owner of the ZYMIX AI social-networking platform) for $900,000,000, paid entirely in zero-coupon notes convertible into shares at $1.00 each, pivoting the container-reconditioning business toward AI.
  • : On Sept 18, 2026, independent directors Han Yee Yen and Lim Geok Peng resigned and were replaced by Ming Gu and Vinoth Varatharajan, who took over the audit and compensation committee chairs.
  • : On Sept 14, 2026, JBDI agreed to buy Canada-based Club Versante Group (a restaurant, whisky bar, and lounge operator) for $20,000,000, paid entirely in convertible notes priced at $1.00 per share.
  • : On Sept 11, 2026, JBDI elected to rely on Nasdaq's home country exemption, freeing the company from the usual shareholder-vote requirement before certain stock issuances, including acquisitions and change-of-control transactions.
  • : Registered additional securities for sale on Form S-1.

Raise routes on file: no active ATM, effective shelf, S-1 or equity line in the filings read · latest dilution event 999 days ago

Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need

AI dilution summary

The dominant contractual driver and its mechanism, then each further driver ranked.

Latest dilution event

Feb 8, 2024 · Registration

How we read filings

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Share count and cash history

Shares outstanding, potential dilution and cash over time

S-1 · 1

What is this?

Size, shares registered and dates with Pro

S-1 registration

Issued 2024

Completed

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

Convertibles · 1

What is this?

Principal, conversion terms and dates with Pro

Convertible

Not yet issued

Principal

Conversion Price

Remaining principal
Shares on conversion
Interest rate
Maturity
Filing link and full terms

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Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.

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