SDST$0.0054-12.30%
Stardust Power Inc.
Sector: Primary Smelting & Refining of Nonferrous MetalsIndustry: Chemicals - SpecialtyCountry: USExchange: OTC
Mkt Cap:$217.1K
Float & O/S:
Inst Own:
DilutionScan read 31 of Stardust Power Inc.'s SEC filings and found 7 warrant series, 1 convertible, 1 ATM program, 2 equity lines, 2 shelf registrations, 5 S-1 registrations and 3 completed offerings on file for SDST. The latest dilution event on file is ATM sales on Sep 22, 2026. Analysis updated Oct 2, 2026.
Signal8 Summary
SDST
Going-concern warning, default, near-zero cash
Snapshot
Stardust Power is a pre-revenue micro-cap trying to build a lithium refinery in Oklahoma; it has never booked a dollar of sales. FY 2025 net loss was $15.7M and free cash flow was -$8.3M, against just $540K in cash.
What's Happening Right Now
- : Stardust Power filed Amendment No. 2 on Sep 22, 2026 to raise its at-the-market share-sale capacity by $6.08M, after already selling $5.79M of stock in the trailing year against a ~$20M public float.
- : Sold $793K of stock through its at-the-market program.
- : Nasdaq notified Stardust Power on Sep 11, 2026 that its stock fails the $1.00 minimum bid price rule, giving it until March 10, 2027 to regain compliance, on top of a separate deficiency tied to the $35M market-value requirement due Oct 21, 2026.
- : On Aug 17, 2026, Lind Global converted $150,000 of its defaulted note at $0.492/share; $3.43M principal remains outstanding and further forced conversions are possible.
- : Stardust Power's Q2 2026 10-Q flags substantial doubt it can continue, with $540K cash, no revenue, an $77.48M accumulated deficit, and an automatic default triggered on its Lind convertible note after market cap stayed under $15M for ten straight days.
- : $150K principal converted · 304.9K shares · at $0.4920.
- : Sold $2.95M net / 2.08M shares through its at-the-market program, as stated for Jul 1, 2026 to Aug 13, 2026.
- : On Aug 5, 2026, Stardust Power signed a non-binding letter of intent with Charge CCCV (C4V) to supply battery-grade lithium carbonate starting at 3,000 metric tons in 2028, scaling to 20,000 metric tons by 2030.
