According to CoinMeta, Sphere 3D has revised its in-market stock issuance plan due to cash flow shortages, intending to sell up to $10.3 million worth of shares. At a price of $2.35 per share, the full issuance would add approximately 4.38 million new shares, raising the total share capital to around 13 million shares, resulting in a dilution of about 50.9%. As of March 31, Sphere 3D held $3.15 million in cash and 26.2 bitcoins, and earned $2.79 million by selling bitcoins in the first quarter. The audit report mentioned ongoing operational risks, and Cathedra experienced a net cash outflow of $1.17 million in the first quarter.