NovaBay sells DERMAdoctor skincare for $1.07M; reports Q4 net sales $3.7M, operating loss $3.2M

Stablecoin Development Corp

Sells DERMAdoctor for ~$1.07M cash to New Age Investments; closing expected by March 31, 2024.
Q4 2023 net sales $3.7M (DERMAdoctor $0.9M, eyecare/wound care $2.8M); operating loss $3.2M.
FY 2023 net sales $14.7M, operating loss $7.4M including $2.5M non-cash impairment of DERMAdoctor assets.
CEO says sale reduces operating expenses and provides cash to focus on core Avenova business and Eyenovia partnership.
Cash as of Dec 31, 2023 was $3.1M; convertible notes $1.1M net.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Stablecoin Development Corp reported preliminary financial results for three and twelve months ended December 31, 2023.

Period: three and twelve months ended December 31, 2023
Result: preliminary results

Exact text from the filing

On March 14, 2024, the Company issued a press release announcing that it had entered into the Purchase Agreement and regarding its results for the three and twelve months ended December 31, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Stablecoin Development Corp entered into Membership Unit Purchase Agreement with New Age Investments LLC valued at $1,070,000 (effective 2024-03-12).

Action: entry
Agreement: asset purchase
Counterparty: New Age Investments LLC
Value: $1,070,000
Effective: 2024-03-12

Exact text from the filing

On March 12, 2024, NovaBay Pharmaceuticals, Inc., a Delaware corporation (the “ Company ”), entered into a Membership Unit Purchase Agreement (the “ Purchase Agreement ”) by and among: (i) New Age Investments LLC, a Florida limited liability company (the “ Buyer ”); (ii) DERMAdoctor, LLC, a Missouri limited liability company (“ DERMAdoctor ”); and (iii) the Company.

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Source: SEC EDGAR

accession 0001437749-24-007754

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