SDEV

EX-99.1

2 ex_995199.htm

EXHIBIT 99.1

ex_995199.htm

Exhibit 99.1

Stablecoin Development Corporation Reports

Second Quarter 2026 Financial Results

•

Staking revenue of $2.2 million for the quarter and $4.7 million for the first half of 2026

•

SDEV grew its SKY position to 2.29 billion tokens (approximately 10% of total SKY supply) and eliminated all remaining warrant liabilities from its balance sheet

WEST PALM BEACH, Fla., July 31, 2026 (GLOBE NEWSWIRE) -- Stablecoin Development Corporation (NYSE American: SDEV) (the “Company” or “SDEV”), an on-chain holding company focused on long-duration participation in protocol-aligned digital asset ecosystems and providing public market access to the stablecoin economy, yesterday reported financial results for the second quarter and first half ended June 30, 2026. The Company filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission on July 30, 2026.

For the second quarter of 2026, the Company reported staking revenue of $2.2 million, a non-cash unrealized loss on digital assets of $50.6 million, and an operating loss of $53.8 million. For the first half of 2026, the Company reported staking revenue of $4.7 million and an operating loss of $31.6 million.

“In the second quarter we continued to build our position in what we believe is one of the most attractive on-chain ecosystems in digital finance, generating $2.2 million of staking revenue while growing our SKY holdings to approximately 10% of total SKY supply,” said Michael Kazley, Chief Executive Officer and Chairman of SDEV. “During the quarter we added to our SKY position through both open-market purchases and staking rewards, eliminated all remaining warrant liabilities to simplify our capital structure, and relocated our headquarters to West Palm Beach to lower our cost base. While the decline in the price of SKY during the quarter drove a non-cash loss in our reported results, no tokens were sold, the underlying fundamentals of the Sky Protocol ecosystem remain strong, and we are focused on disciplined execution as we position SDEV for long-term value creation.”

Second Quarter 2026 Highlights

•

Staking revenue of $2.2 million. Staking revenue was $2.2 million for the quarter and $4.7 million for the first half of 2026, reflecting rewards earned on the Company’s staked SKY holdings within the Sky Protocol ecosystem.

•

Second quarter GAAP results reflect a non-cash mark-to-market. The Company reported an operating loss of $53.8 million in the second quarter, driven by a $50.6 million non-cash unrealized loss on digital assets measured at fair value. No SKY tokens were sold during the quarter; the loss reflects the decline in the market price of SKY and does not affect the Company’s cash position or operations.

•

Grew the SKY position to 2.29 billion tokens. Held 2,286,511,374 SKY tokens as of June 30, 2026, representing approximately 10% of total SKY supply, with a fair value of $119.2 million and a cost basis of $147.2 million; the position grew during the period through both open-market purchases and staking rewards.

•

Earned 31.7 million SKY in staking rewards. Received 31,746,251 SKY tokens as staking rewards during the quarter, bringing cumulative staking rewards to 67,132,900 SKY tokens; substantially all of the Company’s holdings remained staked in the Sky Protocol.

•

Simplified the capital structure. Completed the cashless exercise of all outstanding October 2025 Pre-Funded Warrants on June 15, 2026, eliminating all remaining warrant liabilities from the balance sheet.

•

Reduced fixed costs. Relocated the Company’s principal executive offices to West Palm Beach, Florida, and terminated its legacy California office lease, lowering the Company’s ongoing occupancy costs.

A summary of the Company’s SKY holdings as of July 27, 2026 appears under “Subsequent Events” below.

Second Quarter 2026 Financial Results

Staking revenue was $2.2 million for the three months ended June 30, 2026 and $4.7 million for the six months ended June 30, 2026, reflecting rewards earned on the Company’s SKY holdings through on-chain staking within the Sky Protocol ecosystem. The Company earned 31,746,251 SKY tokens in staking rewards during the quarter, bringing cumulative staking rewards to 67,132,900 SKY tokens. Staking rewards are received in the form of SKY tokens.

Unrealized loss on digital assets. The Company recognized a non-cash unrealized loss on digital assets of $50.6 million for the second quarter and $28.0 million for the first half of 2026, reflecting the change in the fair value of its SKY holdings as the market price of SKY declined during the respective periods. The Company did not sell or otherwise dispose of any SKY tokens during these periods; the unrealized loss is a non-cash accounting item and does not affect the Company’s cash position, liquidity, or operations.

General and administrative expenses were $5.4 million for the second quarter and $8.3 million f

nby20260519_8k.htm

false 0001389545

0001389545

2026-05-20 2026-05-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 20, 2026

Stablecoin Development Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-33678

68-0454536

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

2000 Powell Street, Suite 1150, Emeryville, CA 94608

(Address of principal executive offices and zip code)

(510) 899-8800

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

SDEV

NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 20, 2026, the Company issued a press release announcing its results of operations for the quarter ended March 31, 2026 as well as its updated SKY holdings and accumulated staking rewards. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being “furnished” and shall not be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01. Regulation FD Disclosure.

On May 20, 2026, the Company issued a press release announcing its results of operations for the quarter ended March 31, 2026 as well as its updated SKY holdings and accumulated staking rewards. As discussed in the press release, the Company engages in SKY-related on-chain activities, including staking, and the Company holds approximately 2.26 billion SKY tokens as of May 14, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being “furnished” and shall not be deemed “filed” by the Company for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Press Release, dated May 20, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 20, 2026

Stablecoin Development Corporation

By:

/s/ Michael Kazley

Name:

Michael Kazley

Title:

Chief Executive Officer

nby20260402_8k.htm

false 0001389545

0001389545

2026-04-06 2026-04-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 6, 2026

Stablecoin Development Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-33678

68-0454536

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

2000 Powell Street, Suite 1150, Emeryville, CA 94608

(Address of principal executive offices and zip code)

(510) 899-8800

(Registrant’s telephone number, including area code)

NovaBay Pharmaceuticals, Inc.

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

SDEV

NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 6, 2026, Stablecoin Development Corporation (the “Company”) issued a press release announcing its updated SKY holdings and accumulated staking rewards. As discussed in the press release, the Company engages in SKY-related on-chain activities, including staking, and the Company holds approximately 2.15 billion SKY tokens as of March 31, 2026. The text of the press release is included as Exhibit 99.1 to this Form 8-K.

The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being “furnished” and shall not be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Press Release, dated April 6, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 6, 2026

Stablecoin Development Corporation

By:

/s/ Tommy Law

Name:

Tommy Law

Title:

Chief Financial Officer