Terms of use

1. What DilutionLens is

DilutionLens is an independently operated website covering Australian listed companies, operated by Assemblance Technologies LLC (Delaware, USA). It publishes structured summaries of documents ASX-listed companies have lodged publicly — share issuance filings, capital-raise announcements, option and rights schedules, quarterly cash reports and directors' interest notices. Every figure links to the filing it was taken from. The site is not affiliated with, endorsed by, or a service of ASX Limited, ASIC, or any listed company.

2. Not financial advice, and not a financial service

DilutionLens does not hold an Australian Financial Services Licence. It does not provide financial product advice, does not deal in financial products, and does not offer any other financial service. Nothing on the site is a recommendation to buy, hold or sell any security, and nothing on it is a forecast of what any company will do.

The dilution risk level is produced by a fixed formula applied to figures a company has already disclosed in its own filings — cash runway, share-count growth, raise frequency, options and rights on issue, and announced-but-unsettled issues. It reports history. It is not a credit rating, not an assessment of a company's management or prospects, and not a statement about what its shares are worth. The component breakdown on each company page shows which disclosed facts produced the level, and the methodology page explains what the formula measures and what it deliberately ignores.

To the extent any content on this site is treated as general financial product advice, it has been prepared without regard to your objectives, financial situation or needs. You should consider whether it is appropriate for you, and obtain your own professional advice, before acting on it.

3. Accuracy, automation and AI-generated text

Data is extracted from filings automatically and the site rebuilds daily. No person reviews each page before it is published. The short company write-ups are generated by an AI language model from the same extracted figures; every number in them is checked against the source data and a write-up that fails that check is withheld rather than published, but the wording is machine-written and may be imprecise or incomplete.

Extraction errors are possible and some do occur. Where anything on this site differs from the linked filing, the filing is correct and this site is wrong. Always check the source document before relying on a figure. Share prices and market capitalisations are delayed and indicative, are shown for context only, and are not a licensed market-data feed.

Found a number that does not match the filing? Email corrections@dilutionlens.com — the corrections process is set out on the methodology page.

4. Your use of the site

You may read the site, and quote or link to it with attribution. You may not systematically scrape, harvest or bulk-copy it, republish it as a substitute product, or use it in a way that interferes with its operation or with other people's use of it. The one exception is the authenticated developer access included with a paid subscription, on the terms in section 6.

The presentation, the dilution-risk methodology, the written summaries and the structured data on this site belong to DilutionLens. The underlying filings belong to the companies that lodged them and are linked rather than hosted here. "ASX" and related marks belong to ASX Limited.

5. Your account

A free account is optional — the site works without one. You create it by giving an email address and clicking the link we send; there is no password. Keep access to that mailbox secure, because anyone who can read it can sign in as you. Tell us if you think someone else has.

An account is personal to you. Do not share it, sell access to it, or run it on behalf of several people. A free account includes a set number of full company unlocks each calendar month; unused unlocks do not carry over, and the number may change for future months. Using scripts or multiple accounts to get around that limit, or to extract the site in bulk, is the systematic copying that section 4 prohibits.

You can close your account at any time by asking us — the privacy policy explains how and what is deleted. We may suspend or close an account that breaches these terms, and we will say why unless there is a good reason not to. The site is free at this tier and we do not promise it will always be available or always be free.

6. Paid subscriptions

A paid subscription unlocks the full depth of every company page. It is billed in advance, monthly or annually, in Australian dollars, and renews automatically at the end of each period until you cancel. Payment is processed by Stripe: your card details go from your browser to Stripe and never reach our servers. The checkout page names our operator, Assemblance Technologies LLC; your card statement will read DILUTIONLENS. The checkout page shows the final amount, including any taxes that apply, before you pay.

The price you subscribe at stays your price for as long as your subscription remains active — including any launch pricing. We can change the prices offered to new subscribers at any time. We will not change the price of an existing subscription without at least 30 days' notice before the renewal it first applies to, and you can cancel before that renewal takes effect.

You can cancel at any time from your account page, which opens Stripe's billing portal — or, if you prefer, by emailing our.admin.billing@gmail.com from your account address and asking; we will do it for you. Cancelling stops future charges; your paid access continues to the end of the period you have paid for, and your account then returns to the free tier. Nothing else changes — your account, watchlist and settings stay. If a renewal payment fails, Stripe retries it; your paid access continues for 7 days while it does, and if payment has not succeeded by then your account returns to the free tier. You can resubscribe at any time.

A paid subscription includes developer access for your own use: the site's documented API, its MCP endpoint and per-company CSV downloads, using keys created on your account page. Keys are personal to your account. You may use them for your own analysis, including inside tools you run, within the documented rate limits. You may not use them to redistribute or resell the data, to republish it as a dataset or a substitute product, or to extract the site in bulk — the limits in section 4 continue to apply to this access, and we may revoke keys used in breach of them.

The Australian Consumer Law's consumer guarantees apply to paid subscriptions and nothing in these terms excludes them. If you believe your subscription has not delivered what these terms describe, email our.admin.billing@gmail.com and we will put it right — by fixing the problem, resupplying the service or refunding, as the law requires. We do not otherwise refund the unused part of a period after you cancel; that is why cancelling keeps your access until the period ends.

If you change your mind, email our.admin.billing@gmail.com within 14 days of a payment and we will refund it in full and end the subscription, provided you have not made bulk use of the data export or the API. This is in addition to your rights above, not a limit on them.

7. Liability

The site is provided as-is. To the extent permitted by law, DilutionLens excludes all warranties and is not liable for any loss arising from your use of, or reliance on, the site — including any investment decision made in reliance on it.

Nothing in these terms excludes, restricts or modifies any consumer guarantee, right or remedy under the Australian Consumer Law that cannot lawfully be excluded. Where a guarantee applies and liability can lawfully be limited, our liability is limited to resupplying the relevant service or paying the cost of having it resupplied.

8. Companies and individuals named on this site

If you are a listed company, or a director named in a filing we have summarised, and you believe something published here is wrong, unfair or should not appear, tell us. Data errors go to corrections@dilutionlens.com. Requests about personal information go to privacy@dilutionlens.com (see the privacy policy). Legal notices, including a concerns notice under defamation legislation, should go to legal@dilutionlens.com.

Where we agree a risk level is questionable, we mark it under review and it shows as "Not rated" until the question is resolved. We would rather publish nothing than a figure we are defending.

9. Changes, and governing law

The site changes continuously and these terms may change with it. The version and date at the top of this page tell you which terms are current; changes apply from the date they are published. A change to section 6 that affects an existing subscription is handled the way section 6 says — with notice before it applies to you.

These terms are governed by the laws in force in Australia, and you submit to the non-exclusive jurisdiction of the Australian courts.