NovaBay receives additional NYSE non-compliance notice; approves 1-for-35 reverse split

Stablecoin Development Corp

Stockholders' equity $160k as of March 31, below $2M minimum; delisting risk if not cured by Oct 2025.
Board approved 1-for-35 reverse stock split effective May 30, 2024; shares reduce from ~40.3M to ~1.15M.
All 5 proposals at 2024 annual meeting passed, including reverse split and issuance of shares on warrants/notes.
Audit opinion includes going concern paragraph; company faces ongoing losses and equity deficiency.

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