KindlyMD Bitcoin Treasury Faces Nasdaq Delisting As It Plunges Below $1

Company Overview - KindlyMD Inc. is a healthcare and Bitcoin treasury company facing potential delisting from Nasdaq due to its share price falling below the minimum bid requirement for an extended period [1] - The company's shares, trading under the ticker NAKA, are currently priced at $0.38, down nearly 5% on the day and over 73% year to date [2] Compliance and Financial Performance - KindlyMD has received a notice from Nasdaq after its common stock closed below $1 for 30 consecutive trading days, which is out of compliance with Nasdaq Listing Rule 5450(a)(1) [1] - The company has until June 8, 2026, to regain compliance by maintaining a closing bid price of at least $1 for a minimum of 10 consecutive trading days [3] Bitcoin Strategy and Financial Impact - In May, KindlyMD merged with Nakamoto, a Bitcoin-focused public entity, raising over $700 million to fund Bitcoin purchases [4] - The company acquired 5,764 Bitcoin in August for approximately $679 million, resulting in an unrealized loss of roughly $176 million, or about 26% [5] - KindlyMD's third-quarter report showed revenue of $0.4 million from healthcare operations, while operating expenses rose to $10.8 million, largely due to costs associated with its Bitcoin strategy [7] - The company reported a net loss of $86 million for the quarter, including non-cash charges linked to the Nakamoto merger and unrealized digital asset losses [8]