Substantial doubt about the company's ability to continue as a going concern.
“Historically, the Company has reported recurring net losses from operations and used net cash in operating activities. As of June 30, 2026, the Company’s current liabilities exceeded its current assets by $7,847,263 and the Company had an accumulated deficit of $90,263,345. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.”
Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.
Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.
The Sep 30, 2026 filing window is
still open — showing the latest known positions. Funds that have not filed yet
carry their prior-quarter positions; a fund that filed without this stock counts
as sold out. Each fund's Change is measured against its own
previous reported quarter, shown in the Reported column. Pick a
completed quarter in the Quarter selector below to put every
fund on one quarter and see the stock-wide activity breakdown.
Holders:15
Total Value:$13,510,025
Total Shares:854,023
Institutional Ownership Trend
13 quarters
Holder Concentration
Across 16 13F filers
Top Holder
62.4%
of institutional value
Top 5
87.7%
of institutional value
Top 10
96.5%
of institutional value
HHI
4,125
Highly concentrated
Who Holds MWAI
Last 8 quarters through Sep 30, 2026 (filing window open)
Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory
records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book.
The quarter selector does not change this card.
Jun 30, 2026, the newest closed quarter:
16 filers,
like-for-like change -7.4%; actively managed books -7.7%; index-like books 0.0%.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
88.0%
9
-9.1%
2
0
Bank
0.0%
1
+493.3%
0
0
Holding company
3.5%
1
0.0%
0
0
Unknown
8.4%
5
+10.5%
1
1
Style
Share
Filers
Change
New
Exited
Index-like
3.5%
1
0.0%
0
0
Systematic-like
2.1%
1
-60.8%
0
0
Concentrated
76.9%
5
-8.7%
1
1
Diversified active
17.5%
9
+17.6%
2
0
Not measured
0.0%
0
—
0
0
Unknown
0.0%
0
—
0
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
89.4%
7
-7.4%
1
1
Medium turnover
2.7%
2
+77520.0%
1
0
High turnover
5.9%
4
-36.4%
1
0
Unknown
2.0%
3
-5.6%
0
0
Not measured
0.0%
0
—
0
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
2.5%
3
-37.4%
0
0
Medium horizon
7.4%
3
+152.8%
2
0
Long horizon
90.1%
10
-11.1%
1
1
Not measured
0.0%
0
—
0
0
Unknown
0.0%
0
—
0
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
70.2%
5
-9.5%
1
1
$1B to $10B
20.9%
5
+8.5%
1
0
$10B to $100B
1.0%
1
-0.5%
0
0
$100B or more
7.9%
5
-22.2%
1
0
Not measured
0.0%
0
—
0
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
85.9%
8
-6.0%
2
0
Pooled investment vehicles
2.1%
1
-60.8%
0
0
Unknown
12.0%
7
+7.3%
1
1
Private funds
Share
Filers
Change
New
Exited
Hedge funds
2.1%
1
-60.8%
0
0
Other private funds
1.0%
1
-0.5%
0
0
No private funds
84.8%
7
-6.1%
2
0
Unknown
12.0%
7
+7.3%
1
1
Location
Share
Filers
Change
New
Exited
United States
100.0%
15
-7.4%
3
1
Outside the US
0.0%
1
+493.3%
0
0
The Sep 30, 2026 filing window is still open, so its
bar carries the Jun 30, 2026 positions of filers that have not filed yet.
How the mix is measured
Shares are 13F common shares restated to today's split basis; options and principal amounts are left out.
The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later
quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type
comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster
current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and
book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none
was. Actively managed books are those measured systematic-like, concentrated or diversified active.
Excluded 1 holder with no observed 2026-03-31 13F.
