SCWorx Corp. WORX

Investors go on ChatGPT and ask this question “How many warrants fully diluted does Iroquois and it’s affiliate have of WORX stock and what is the Straight price of those warrants? Here’s the answer you will get and it’s accurate

Here’s what SCWorx (ticker: WORX) has on record for Iroquois and its affiliated funds, based on the most recent Schedule 13G/A filed August 13, 2025. 

1. How many warrants they control (fully diluted)
   • Iroquois Master Fund Ltd.
   Warrants to purchase 12,139,030 WORX common shares.
   • Iroquois Capital Investment Group LLC (“ICIG”)
   Warrants to purchase 9,628,258 WORX common shares.

If you treat both of those entities as part of “Iroquois and its affiliates,” you add them:

Let’s add carefully, digit by digit:
• 12,139,030

•	9,628,258

⸻

Step 1 (ones place): 0 + 8 = 8
Step 2 (tens): 3 + 5 = 8
Step 3 (hundreds): 0 + 2 = 2
Step 4 (thousands): 9 + 8 = 17 → write 7, carry 1
Step 5 (ten-thousands): 3 + 2 + carried 1 = 6
Step 6 (hundred-thousands): 1 + 6 = 7
Step 7 (millions): 2 + 9 = 11 → write 11

So that totals 21,767,288 WORX shares underlying warrants across Iroquois Master Fund + ICIG. 

That number is “fully diluted” in the sense that it’s the full number of common shares those warrants could buy if you ignore the ownership caps (the 4.99% and 9.99% blockers). The filing explicitly says some of these warrants can’t be exercised if it would push them over 4.99% or 9.99% ownership at that moment, but for modeling dilution you usually ignore the blocker and count all of them. 

1. What is the strike (exercise) price?

SCWorx has issued Iroquois multiple rounds of warrants at different strikes. The 13G doesn’t list every strike per tranche, but we can pull the disclosed pricing on the current Iroquois paper:
• A big chunk of Iroquois’s position comes from recent financing rounds where SCWorx issued:
• “Private Investment Warrants” with a $0.3496 per share exercise price, subject to those same 4.99% / 9.99% ownership blockers. These are referenced in SCWorx shareholder materials asking approval for issuing up to 21,988,638 shares on exercise of January 2025 Private Investment Warrants at $0.3496. That same $0.3496 price also shows up as the conversion price on Iroquois’s convertible notes. 
• Reload / inducement warrants at about $0.31 per share ($0.31004 stated) that were issued after certain holders (including these funds) agreed to exercise older warrants for cash; those new warrants have a five-year term and become exercisable after shareholder approval. 

So, in plain English:
• Iroquois and its affiliate funds together control warrants on about 21.77 million WORX shares on a fully diluted count.
• The core strike levels on those warrants are roughly $0.35 per share ($0.3496) from the financing warrants and about $0.31 per share ($0.31004) from the reload / inducement warrants. 

Important nuance: older legacy SCWorx warrants historically had much higher strikes (pre-reverse-split math like $51–$60+ per share before the company massively recapitalized), but the meaningful Iroquois paper driving current dilution is in the ~$0.31–$0.35 range as disclosed in 2025 filings. 

Added 4k

The management and CEO of $WORX did the most toxic financing deal I have ever seen in 45 years on Wall Street. Please take a look at sec.gov and go to WORX and look at their filings. This financing deal is going to force $WORX management to do a reverse split or get listed. If they do a reverse split it’s gonna have to be at least 10 for one in my opinion after the reverse the stock will sell off in my opinion, as almost every company that does a reverse stock immediately sells off. The dilution on this company will be immense as Iroquois Capital has to get paid back the money that they invested in $WORX. The Company continues to lose money. They will probably need to raise more Capital.

Read the $WORX Filings!!!!! (Go to sec.gov) The the Iroquois financing deal is in the Company 8K. It’s all there! $LTRY Managenent executed one of the most dilutive financing deals Ever. They completely diluted the shareholders with this dilutive financing, and the shareholders will be diluted again with either a reverse merge of $WORX to keep their NASDAQ listing Requirements or if $WORX stays below $1 then the Company will get moved off the NASDAQ. Either way it’s really bad for the investors. They keep trying to pump this stock and historically it runs up and then comes crashing down. Obviously this person in these twits, Michael Jackson, is trying to pump $WORX stock and I see him attempting to push other stocks.

$WORX $CDT $

Read the Filings! (sec.gov) The the Iroquois financing deal is in the 8K. It’s all there! $LTRY Managenent executed one of the most dilutive financing deals Ever. They completely diluted the shareholders with this financing, and the shareholders will be diluted again with either a reverse merge to keep their NASDAQ listing Requirements or $WORX get moved off the NASDAQ. Either way it’s really bad for the investors.

$WORX will have to do a reverse stock split in my opinion, to keep it NASDAQ listing requirements. See $WORX latest filings and what they say about this.

As a professional equity investor with over 35 years experience here’s what I believe is going to happen with $WORX stock. The SEC provided a letter to $WORX that the Company is not meeting the Nasdaq listing Requirements because their share price is under $1 dollar. Therefore, the company has to options to get the stock over a dollar or to do a reverse split. It’s most likely the company will do our reverse split in my opinion. Should this happen? I believe the company will do a four or five through one reverse split. They currently have 2.1 million shares out outstanding so they’re either gonna have 400,000 to 500,000 shares outstanding after the split. Cuey needs to get their investment back by selling registered shares of $WORX in the open market. According to the AK filed by the company showing the Iroquois financing deal, Iroquois has something called a blocker, which means they take only 4.9% at a time stock from the company to sell the open market. This is so they don’t have to report their sales.. So in essence, the company will have to keep issuing more and more shares. This will pay a enormous pressure on the stock price.

DO YOUR RESEARCH!!!!! Management signed a toxic financing deal with Iroquois. See $WORX 8K. It’s all in there. $WORX needs to pay back a significant equity financing, over $2MM($WORX market Cap. Is $1.4MM) to Iroquois. The 8K which details the financing deal has what is referred to as a “Blocker”. That means Iroquois only requests 4.9% of $WORX shares outstanding at a time so they can sell there shares into the open market without reporting their ownership. It’s surprising the SEC allows this loophole but they do. So as the stock goes lower from the selling pressure, Iroquois keeps receiving more and more additional shares to pay off their investment. This is referred to as a “Death Spiral”.

Additionally, it’s public information report by $WORX that the SEC notified the Company that they are not meeting the NASDAQ Listing Requirements to stay on the NASDAQ Exchange because $WORX stock price is below $1 a share. That’s forces the Company to do a reverse stock Split, in my opinion. So if they need to keep the stock over $1 and they need to do reverse stock Split to do so, it’s my opinion, the Company will need to do at least a 10 for 1 reverse stock split. This puts additional pressure on the stock price because Iroquois has to receive Additionally shares to get their investment back.

Do your research on WORX. SEC.gov has all the filings and information. WORX revenue steadily declining for the past 8 quarters. Company continues to lose money. WORX did a death spiral financing with Iroquois, which is available to read in their 8K. Iroquois will keep getting issued free trading Shares to sell in the open market. No one can figure why WORX management signed one of the most toxic financing deals ever! Educate yourself. Don’t be fooled.