---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-018612"
form_type: "8-K"
ticker: "SDEV"
cik: "0001389545"
company_name: "Stablecoin Development Corp"
filed_at: "2024-05-29T23:59:59+00:00"
generated_at: "2026-06-01T07:38:13.942704+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-018612
- form_type: 8-K
- ticker: SDEV
- cik: 0001389545
- company_name: Stablecoin Development Corp
- filed_at: 2024-05-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.01, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389545/000143774924018612/0001437749-24-018612-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389545/000143774924018612/nby20240529_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-018612
- JSON: https://secwatch.observer/filing/0001437749-24-018612.json
- Plain text: https://secwatch.observer/filing/0001437749-24-018612.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.