NovaBay reports pro forma Q1 2024 net loss $2.3M after DERMAdoctor sale; 1:35 reverse split

Stablecoin Development Corp

Pro forma Q1 2024: product revenue $2.6M, net loss from cont. ops $2.3M (vs historical $3.1M).
FY2023 pro forma: net loss $5.8M (historical $9.6M); revenue reduced $3.6M from discontinued DERMAdoctor.
1-for-35 reverse stock split effective May 30, 2024, retroactively applied to pro forma per-share data.
Cash proceeds from DERMAdoctor sale were $1.07M; pro forma loss on divestiture $0.98M as of Dec 31, 2023.
Company now solely focused on remaining eye-care operations (Avenova) after divestiture.

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