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S-1 ·Filed Apr 17, 2026

CAST

FreeCast, Inc.
BEARISH
Impact 6/10
Horizonmonths Processed6mo ago SEC0001213900-26-045218
IPO registration
Actionable Insight ▼ Bearish

Traders should be cautious due to the company's significant losses, going concern uncertainty, and heavy reliance on related-party revenue. The equity line of credit structure could lead to substantial dilution if the stock price declines, as more shares would need to be issued to access the full $50 million commitment. Monitor future filings for actual proceeds raised from the ELOC facility and any changes in the company's cash position.

DirectionBearish
Confidencehigh
Horizonmonths
Final — all horizons settled through T+60d
CAST ▼ -15.97% at T+60d
SHORT call ✓ call won +15.97% · α vs SPY +22.75% · entry $3.10 → $2.61
Entry = T+0 close
Apr 17, 2026
via day close
T+1d
-11.61%
call +11.61% · α +10.96%
$2.74
settled 6mo ago
T+5d
-6.77%
call +6.77% · α +7.69%
$2.89
settled 6mo ago
T+20d
-54.52%
call +54.52% · α +58.72%
$1.41
settled 6mo ago
T+60d
-15.97%
call +15.97% · α +22.75%
$2.61
settled 3mo ago

Executive Summary

FreeCast, Inc. is conducting a resale offering of 5,750,000 shares of Class A common stock by a selling shareholder, facilitated through an equity line of credit (ELOC) agreement with Amiens Technology Investments LLC. FreeCast will not receive proceeds from this resale but may raise up to $50 million through future direct sales of shares to the ELOC provider. The company operates a streaming aggregation platform but has a history of significant losses, raising substantial doubt about its ability to continue as a going concern. Its business is heavily reliant on related-party transactions and proprietary technology licensed from a company controlled by its CEO.

Key Financial Metrics

Rev Growth
-4.5%

Key Facts

  • The offering is a resale by a selling shareholder; FreeCast will not receive proceeds from this transaction.
  • FreeCast may raise up to $50 million through future direct sales of shares to the ELOC provider under the agreement.
  • The company reported a net loss of $5.6 million for the six months ended December 31, 2025, and has an accumulated deficit of $200.9 million.
  • More than 39% of revenue for the six months ended December 31, 2025, came from two related-party customers.
  • The company's SmartGuide technology is licensed from Nextelligence, Inc., a company controlled by CEO William A. Mobley, Jr.

Financial Impact

The company may raise up to $50 million through future direct sales of shares to the ELOC provider, but will not receive any proceeds from the current resale offering of 5.75 million shares.

dilutionrevenuenet income

Risk Factors

  • Substantial doubt about the company's ability to continue as a going concern
  • Heavy reliance on a small number of related-party customers for revenue
  • Potential for significant shareholder dilution from the equity line of credit
  • Dependence on technology licensed from a related party controlled by the CEO

Market Snapshot

Exchange
Nasdaq
Sector
Services-Computer Processing & Data Preparation

Investment Themes

Software & IT

Documents Analyzed

This report is based on 9 SEC documents filed with EDGAR.

DocumentAccession Number
S-1 Filing (Primary)0001213900-26-045218
Document: ea028638301ex10-16.htm0001213900-26-045218
Document: ea028638301ex-fee.htm0001213900-26-045218
Document: ea028638301ex10-17.htm0001213900-26-045218
Document: ea028638301ex5-1.htm0001213900-26-045218
Document: ea028638301ex23-1.htm0001213900-26-045218
Document: 0001213900-26-045218-index-headers.html0001213900-26-045218
Document: 0001213900-26-045218-index.html0001213900-26-045218
Document: 0001213900-26-045218.txt0001213900-26-045218
11 reports for CAST
Performance horizon
100% Hit rate @ T+20 6 of 6 directional calls Went positive at some point 6 of 6 best @ T+20▲ +832.93%May 28, 2026
Filters
Rows
Reports for CAST — sortable, filterable
TypeNow
Jul 29, 2026
12w ago
3
NEUTRAL ★ 2/10
$1.20 $1.51▲ +25.83%▲ +20.81%$1.06 (−11.53%)
Jul 23, 2026
13w ago
8-K
NEUTRAL ★ 2/10
$2.08 $1.87▼ −10.10%▼ −13.40%$1.06 (−48.96%)
Jul 20, 2026
14w ago
S-1/A
BEARISH ★ 6/10
$2.55 $0.8598▲ +66.28%▲ +70.40%$1.06 (+58.37%)
Jul 15, 2026
14w ago
S-1
BEARISH ★ 7/10
$2.52 $0.9950▲ +60.52%▲ +64.13%$1.06 (+57.87%)
May 28, 2026
21w ago
8-K
BULLISH ★ 6/10
$0.8200 $7.65▲ +832.93%▲ +836.07%$1.06 (+29.46%)
May 7, 2026
24w ago
EFFECT
BEARISH ★ 7/10
$1.77 $0.7400▲ +58.19%▲ +61.33%$1.06 (+40.02%)
Apr 17, 2026
27w ago
S-1
BEARISH ★ 6/10
$3.10 $1.41▲ +54.52%▲ +58.72%$1.06 (+65.75%)
Apr 15, 2026
27w ago
8-K
BEARISH ★ 6/10
$3.96 $1.47▲ +62.88%▲ +68.92%$1.06 (+73.19%)
Apr 1, 2026
29w ago
10-Q/A
BEARISH ★ 5/10
$4.50 $2.09▲ +53.56%▲ +63.43%$1.06 (+76.41%)
Mar 5, 2026
33w ago
8-K
BEARISH ★ 7/10
—awaiting T+20——
Showing 10 of 11

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Report published Apr 17, 2026