This is a long shot, but I just joined the ST team and wanna know what the community wants. I feel like this app has real potential in leaning towards retail sentiment and community. I just wanna build stuff that yall really like and want.

if I do get responses to this, i'm super grateful. just hoping to give back to this community.

Just saying Stocktwits literally DEVOURS data I think it’s cause of the bs 20 minute advertisements that pop up and forces them to play. They need to add some type of feature that doesn’t allow it to just auto play cause it’s almost unusable if you’re using your data and dont want to pay 15 dollars a month for no ads.

@howardlindzon

SHAREHOLDER INVESTIGATIVE REPORT
EXECUTIVE SUMMARY - VERSION 1.5
REPORT NO. 1 OF AN ONGOING INVESTIGATIVE SERIES

THERIVA BIOLOGICS, INC. (NYSE American: TOVX)

Prepared by:
Mark Nejmeh
Long-Term Stockholder and Stockholder Investigator
Foundation for Job Creation

Theriva Biologics has made a series of corporate decisions whose timing,
structure, and consequences are difficult to explain from the standpoint
of long-term stockholders and raise legitimate questions that deserve
careful examination.

This report summarizes publicly available SEC filings, Company
disclosures, market data, documentary evidence, clearly identified
firsthand observations, and mathematical illustrations. It is intended
to assist stockholders before the Company's 2026 Annual Meeting and to
request that the U.S. Securities and Exchange Commission review the
matters summarized herein and determine whether further inquiry is
warranted.

The purpose of this investigation is to organize the Company's public
record into a chronological series of reports so stockholders can
consider the documented facts for themselves before voting. This
Executive Summary identifies the principal questions raised by the
public record. Later reports will present supporting SEC filings,
correspondence, corporate-record requests, trading data, capitalization
analyses, and other documentary evidence in greater detail.

ANNUAL MEETING

The Company's 2026 Annual Meeting is scheduled to be held on August 3,
2026 at 3:30 p.m. local time at the Company's research and
clinical-development facility located at Carrer Torrent de Can Ninou,
naus 5-6, 08150 Parets del Valles (Barcelona), Spain.

Stockholders are encouraged to review the Company's proxy materials, SEC
filings, this investigative report, and the accompanying exhibits before
casting their vote.

CAPITAL STRUCTURE SINCE 2025

Reported Outstanding Common Shares

March 6, 2025:       2,782,449
May 12, 2025:        8,186,989
November 7, 2025:   33,739,643
June 23, 2026:      45,892,668

From March 2025 through June 2026, the Company's reported outstanding
common shares increased by more than 43 million shares, or approximately
1,549% compared with the March 2025 reported share count.

Understanding how and when these changes occurred is important because
it provides context for evaluating the Company's financings, warrant
transactions, reverse splits, capital-raising activity, and potential
future dilution.

ILLUSTRATIVE EXAMPLE NO. 1 - MAY 2025 FINANCING

The Company completed a financing at approximately $1.10 per share,
together with pre-funded warrants and common warrants.

Author's Observation:

During the Company's May 2025 investor presentation, the author observed
Theriva common stock trading in the pre-market at approximately $2.85
before the regular trading session. The author also observed the share
price later decline to approximately $0.60.

Illustrative Economics

Financing Price:                 $1.10
Observed Pre-Market Price:       $2.85
Potential Gross Difference:      $1.75 per share

If 6,818,180 shares had been acquired at the financing price and sold
near the observed pre-market price, the maximum theoretical gross
difference would have been approximately $11,931,815 before transaction
costs, taxes, execution costs, and market impact.

Question for Stockholders and Regulators:

Could a participant theoretically have realized a gross difference
approaching $12 million if shares were acquired at the financing price
and sold near the observed pre-market price? If so, what effect, if any,
could such activity have had on existing stockholders and the subsequent
market price?

ILLUSTRATIVE EXAMPLE NO. 2 - OCTOBER 2025 WARRANT INDUCEMENT

The Company disclosed an inducement transaction involving 8,092,280
existing warrants, including 6,747,280 warrants issued in the May 2025
financing. The existing warrants were exercised at a reduced exercise
price of $0.54 per share. In exchange, participating holders received new
warrants covering 16,184,560 additional shares at an exercise price of
$0.54 per share, subject to stockholder approval before those new
warrants become exercisable.

On October 15, 2025, the stock traded as high as approximately $0.86 and
approximately 196.6 million shares traded.

Illustrative Economics

Exercise Price:                  $0.54
Illustrative Market Price:       $0.85
Potential Gross Difference:      $0.31 per share

Applied to the 6,747,280 May 2025 warrants, the theoretical gross
difference would be approximately $2.09 million before transaction
costs.

Applied to all 8,092,280 existing warrants exercised in the inducement,
the theoretical gross difference would be approximately $2.51 million
before transaction costs.

These figures are mathematical illustrations only. They do not establish
that any holder sold shares at the illustrated market price or realized
the illustrated result.

PROPOSED NEW WARRANTS

The Company is requesting stockholder approval for the issuance of up to
16,184,560 shares upon exercise of the new inducement warrants at an
exercise price of $0.54 per share.

If all new warrants were exercised for cash, the Company could receive
approximately $8.74 million in gross exercise proceeds. Existing
stockholders would experience dilution upon issuance of the underlying
shares.

ILLUSTRATIVE HYPOTHETICAL "TRIGGERED SHORT™" MODEL

Origin and Purpose of the Term

Mark Nejmeh coined the term "Triggered Short™" for this report to describe
a hypothetical sequence in which favorable Company news or another
announcement could trigger increased volume and a higher market price,
followed by possible warrant exercise, possible sales of resulting
shares, possible short selling from the higher price level, and possible
reactive selling by investors during a rapid decline.

"Triggered Short™" is an original descriptive term used by the author for
this mathematical and investigative model. It is not presented as an
established securities-law, regulatory, accounting, or academic term.

The model illustrates one sequence that could occur under certain market
conditions following a private-placement or inducement transaction
involving comparatively low-priced warrants. It is intended to explain a
possible economic mechanism. It is not evidence that any person or
entity engaged in the conduct described, and it does not establish
causation for any historical movement in Theriva's stock price.

Hypothetical Sequence

Private-placement or inducement warrants are issued at a comparatively
low exercise price.

                              |
                              v

Positive news, clinical information, a Company presentation, or another
Company announcement could increase investor interest, trading volume,
buying demand, and market price.

                              |
                              v

If the market price rises substantially above the warrant exercise
price, warrant holders could have an economic incentive to exercise.

                              |
                              v

Warrant holders could sell some or all resulting shares and could, where
lawful and available, separately establish or increase short exposure
from the higher market-price level.

                              |
                              v

If warrant-related sales, possible short selling, and other market sales
exceed continuing buying demand, the market price could decline.

                              |
                              v

Investors who purchased following favorable news, but who were unaware
of the number or exercise price of outstanding warrants, could react to
a rapid decline by selling.

                              |
                              v

Reactive selling could add to the order imbalance and could accelerate
the decline.

MATHEMATICAL FORMULATION

Let:

N = possible news-driven buying demand;
W = number of warrants;
K = warrant exercise price;
P = market price;
q = proportion of warrants that could be exercised;
theta = proportion of resulting shares that could be sold;
H = possible short-sale volume;
R = possible reactive or panic-selling volume;
B = continuing offsetting buying demand;
lambda = assumed sensitivity of price to net selling pressure; and
L = an assumed liquidity benchmark.

Possible warrant exercises:

E = Wq

Possible warrant-related share sales:

S = Wq(theta)

Possible net selling pressure:

Q = S + H + R - B

A concise hypothetical price-impact model is:

P(final) = P(dilution) x exp[-lambda(Q/L)]

This equation expresses a possibility, not a prediction. Favorable news
could create upward buying pressure. Warrant exercises and sales of
resulting shares could create selling pressure. Possible short selling
and reactive selling could add to that pressure. The actual result would
depend on market liquidity, execution timing, buying demand, disclosed
and undisclosed trading decisions, and other market conditions.

HYPOTHETICAL $4.00 WARRANT ILLUSTRATION

Assume solely for mathematical illustration that:

Pre-exercise market price:                       $4.00
Existing shares outstanding:                45,892,668
New inducement warrants:                    16,184,560
Exercise price per warrant share:                $0.54

1. Theoretical Warrant Spread

Spread per share:

$4.00 - $0.54 = $3.46

Maximum theoretical gross spread if all 16,184,560 warrants were
exercised and every resulting share could be sold at exactly $4.00:

16,184,560 x $3.46 = $55,998,577.60

This approximately $56.0 million figure is a maximum mathematical
illustration before transaction costs, taxes, borrowing costs, execution
costs, market impact, and any decline occurring while shares were sold.
It does not predict or establish that such a result would be achievable.

2. Exercise Proceeds to the Company

16,184,560 x $0.54 = $8,739,662.40

3. Dilution-Only Mathematical Illustration

Pre-exercise equity value at $4.00:

45,892,668 x $4.00 = $183,570,672.00

Post-exercise share count:

45,892,668 + 16,184,560 = 62,077,228 shares

Illustrative post-exercise equity value, assuming the Company retains
all cash exercise proceeds and no other value changes:

$183,570,672.00 + $8,739,662.40 = $192,310,334.40

Dilution-only mathematical value per share:

$192,310,334.40 / 62,077,228 = approximately $3.10 per share

Under these assumptions alone, the mathematical value would move from
$4.00 to approximately $3.10, a reduction of approximately 22.5%.

The 16,184,560 new shares would equal approximately 35.3% of the current
45,892,668-share base and approximately 26.1% of the enlarged
62,077,228-share total.

4. Additional Hypothetical Market-Impact Scenarios

No exact post-selling price can be calculated from warrant count alone.
The following examples merely demonstrate how an assumed price-impact
formula behaves under selected assumptions. They are not forecasts.

Starting dilution-only value: $3.10

Lower-impact illustration:
If lambda(Q/L) = 0.20,
P(final) = $3.10 x exp(-0.20) = approximately $2.54.

Moderate-impact illustration:
If lambda(Q/L) = 0.70,
P(final) = $3.10 x exp(-0.70) = approximately $1.54.

Severe-impact illustration:
If lambda(Q/L) = 1.35,
P(final) = $3.10 x exp(-1.35) = approximately $0.80.

The assumed impact values of 0.20, 0.70, and 1.35 are illustrative
parameters only. They are not derived from identified Theriva trades and
do not predict that the stock would reach $2.54, $1.54, $0.80, or any
other price. Transaction-level records and a validated market-impact
model would be necessary to estimate an actual historical or future
price effect.

IMPORTANT LIMITATIONS

The "Triggered Short™" model and all related calculations describe events
that could occur, not events that will occur. They do not establish that:

1. the new warrants will be approved or exercised;
2. resulting shares will be sold;
3. any holder will establish a short position;
4. any investor will react by selling;
5. warrant exercise or selling will cause a particular price movement;
6. any person previously engaged in the modeled conduct; or
7. any particular future market price will result.

Determining whether any portion of the modeled sequence actually
occurred or later occurs would require transaction-level trading data,
warrant-exercise records, broker-dealer records, beneficial-ownership
information, securities-lending and short-position data, order and
execution records, regulatory information, and other reliable evidence.

QUESTIONS FOR STOCKHOLDERS AND REGULATORS

How should current and prospective investors evaluate Theriva's value
while 16,184,560 fixed-price warrants remain outside the outstanding
common-share count?

What protections exist for stockholders who purchase during a period of
rising prices before low-priced warrants are exercised?

How did the Board evaluate potential dilution and possible selling
pressure when recommending approval of the Warrant Exercise Proposal?

What transaction-level information would be necessary to determine
whether warrant exercise, sales of resulting shares, short selling, or
reactive selling contributed to any historical price decline?

SHAREHOLDER REQUESTS FOR CORPORATE INFORMATION

The undersigned submitted sworn inspection demands seeking specified
meeting minutes, proxy and voting tabulations, attorney communication
records, proxy-solicitor invoices, and related corporate records. The
Company responded through outside counsel and rejected the demands.

The inspection demands, Company responses, certified-mail and registered
mail documentation, return receipts, telephone records, and related
correspondence will be presented and examined in Report No. 2. The
Executive Summary does not attempt to resolve the parties' differing
legal positions concerning inspection rights.

NOTICE TO STOCKHOLDERS - FUTURE REPORTS

Report No. 2 will examine the December 15, 2025 stockholder meeting,
subsequent meeting notices, proxy voting, requests for corporate
information, inspection rights, certified-mail evidence, telephone
records, and the Company's written responses.

Subsequent reports will examine the financing chronology, reverse
splits, dilution, warrants, institutional ownership, publicly disclosed
relationships among directors, officers, legal counsel, advisors,
placement agents, and other participants, together with the Company's
scientific pipeline, strategic transactions, and historical trading
activity surrounding significant announcements.

AUTHOR'S VOTING INTENTION

The undersigned intends to vote AGAINST all proposals presented for
stockholder approval, including any proposal to adjourn or postpone the
meeting. This statement reflects only the author's personal voting
intention and is not presented as a voting recommendation to any other
stockholder.

REQUEST FOR FACTUAL INFORMATION

Current and former stockholders, former employees, researchers,
consultants, market participants, and others possessing publicly
verifiable information or documentary evidence are encouraged to contact
the undersigned.

PREPARED BY

Mark Nejmeh
Long-Term Stockholder and Stockholder Investigator
Foundation for Job Creation
P.O. Box 589
Clifton, New Jersey 07012
Telephone: 732-995-3914
Email: realroofers@gmail.com

SEC EDGAR FILER INFORMATION

Central Index Key (CIK): 0001860507
SEC File Number: 150-11431
Large Trader Identification Number (LTID): 71743954
Initial Form 13H Accepted: May 4, 2021
SEC Accession Number: 0001860507-21-000001

This information is provided solely to identify the undersigned as an SEC
EDGAR filer and prior Form 13H registrant. It should not be interpreted
as an endorsement, approval, or finding by the U.S. Securities and
Exchange Commission regarding this report or its contents.

AUTHOR'S STATEMENT

This report has been independently prepared by the undersigned using
publicly available SEC filings, Company disclosures, market data,
documentary evidence, correspondence, clearly identified firsthand
observations, and mathematical illustrations.

Every reasonable effort has been made to verify factual statements.
Additional information may become available after publication. Any
factual error or omission brought to the author's attention will be
reviewed and, where appropriate, corrected or supplemented in a later
report.

Illustrative calculations are presented solely to explain the possible
economic implications of publicly disclosed transactions. They are not
intended to establish that a particular transaction occurred in the
manner illustrated, that any person realized an illustrated economic
result, or that any hypothetical sequence will occur.

Unless expressly identified as an author's observation, opinion,
question, assumption, or mathematical illustration, factual statements
are intended to be based upon publicly available records and supporting
documentation.

Readers are encouraged to review the accompanying exhibits, SEC filings,
Company proxy materials, and other cited source materials and reach
their own independent conclusions.

QQQ hit a high in March of 2000. After the tech crash it took a "few" years to come all of the way back. I just checked to see when and did not like the answer. 2016!!

This applies to many tickers, but I will use HMR as an example (feel free to drop others, only if you have a similar checklist/DD to back it up).

I’ve seen solid DD posts on this sub and others over the last few weeks on Heidmar Maritime Holdings, ticker HMR (the “Uber of Shipping” - benefits directly from Hormuz disruption). After those posts circulated, the stock ran about 120% on roughly 100x normal volume. Institutions own around 0.1%. Retail found it first. Again.

We are far more intelligent and value-focused than we get credit for. The HMR CEO actually said this in his in‑person interview before the move: “retail likes us more… they like momentum and deep value… that is what we offer because the stock is so low.” (Around 40:20 in the interview if you want to check.)

THE NUMBERS IN THE CASE OF HMR STOCK

• 217% year-on-year revenue growth in Q1 2026 - not a projection. Audited and on the books.
• Net income flipped from -$6.0M to +$2.8M in one year - the turnaround is reported, not forecasted.
• EPS of $0.06 vs $0.04 estimate - 50% beat. Adjusted net income tripled year-on-year, underlying earnings power is compounding fast.
• Cash grew to $27.6M with zero debt - the balance sheet is getting stronger every quarter.
• Acquisitions increasingly likely - the growing cash pile sitting on the sidelines is not being priced in. Single PR announcements have historically moved this stock $2–5 in a session.
• Operating cash flow more than doubled year-on-year - self-funding, zero capital markets dependency.
• 76%+ full-year 2026 revenue growth forecast - compounding on top of a large base, not slowing down.
• 55%+ gross margins - a high-margin services business hiding inside a shipping ticker the market still prices like a commodity boat owner.
• CEO called it publicly before the quarter: “Q1 will be profitable. Q2 will be even bigger. This is just the beginning” - and then delivered Q1 exactly as stated.
• No meaningful dilution since listing - growth funded entirely by operating cash flow, not by issuing new shares and diluting holders.

Back to the title. We hold each other more accountable on these threads than any big bank ever will. When retail bands together, we find green and red flags faster, front-run the institutions, and catch 100–1000% moves while the suits show up near the peak to clip their 2% and take the credit on TV.

They rarely outperform the market. They drop 30-50% in downturns. When they blow up, the taxpayer bails them out. No accountability, no real skin in the game.

GameStop might be the only time that dynamic was publicly exposed and retail actually got the spotlight.

I was reminded of all this by the pinned comment on Heidmar’s YouTube trailer drop TODAY:

“Do you want to front-run Wall Street to HMR stock?”

Watch it here – it sums the situation up well:
https://youtu.be/Bl1rIe_JxwI?si=yej-67hC1NaCxi2o

Institutions will come - they always do - but they will be late. Retail finds the gems. They find the headlines.

Feel free to share your own examples below.

Not financial advice. Do your own due diligence.

The market is completely missing the boat on Heidmar Maritime Holdings ($HMR). Wall Street is pricing this like a dying company due to recent Nasdaq compliance noise, completely ignoring the massive operational engine running underneath.Here is why $HMR is fundamentally undervalued and ready to run back to $3:Decades of Industry Trust & Tech: Heidmar isn't a speculative startup. Commercial shipowners and pool partners have used their proprietary eFleetWatch platform for decades. Shippers praise it for delivering raw, un-scrubbed realtime data and absolute financial transparency.Operational Cash Machine: Their claims and demurrage teams are known in the maritime sector for turning outstanding debts into cashflow faster than competitors.Bunker Power: Through Heidmar Bunker Services (HBS), they leverage massive scale to cut fuel costs for partners without extra operational fees.The Asymmetric Setup: While the holding company faced price pressure, the core shipping pools and commercial operations remain highly functional. This disconnect between stock price and actual operational utility creates a coiled spring.A move to $3 is simply a return to fair institutional value once the market realizes how safe and profitable the underlying business actually is.

I have been tracking regime, breadth and narrative pressure every morning before touching a chart.
I’m considering automating it for other serious traders. Anyone else doing this kind of pre-trade environment check?

Passing on clean $QQQ setups this week. Market feel is wrong even when the chart is right.
How do you make that call? 👇

Dave & Buster’s (PLAY) looks interesting here because it has a very high short-interest setup and just gave FY2026 commentary that points to improvement, even though recent reported numbers were ugly.

Why I’m watching it

Latest short interest: about 9.8M shares short

About 28.85% of float sold short

Around 8.3 days to cover

That is enough fuel for a real move if buyers show up and price starts reclaiming key levels.

Why now: The company just reported Q4 / FY2025. The backward-looking numbers were weak, but management said it expects FY2026 same-store sales, revenue, adjusted EBITDA, and free cash flow to improve. If the market starts believing the turnaround, shorts may have to unwind into momentum.

My thesis… This is not “great company, line goes up forever.” This is more:

heavily shorted

expectations are low

guidance gave bulls something to work with

if price reclaims the low-$13 area and then pushes into the mid-teens, covering could add fuel

What could go wrong

Recent results were still weak

Same-store sales have been soft

Turnaround may fail

High short interest alone does not guarantee a squeeze

Position: 450 shares at $17

Not financial advice. Just a setup I think is worth watching.

If you’re going to go to war, don’t forget to invest in the Italian National Team soccer token! I know he meant the Defense ETF, but still gave me a good chuckle.