Stablecoin Development Corp
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
SDEV$0.89-9.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value amounts)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $8,467 | $430 |
| Prepaid expenses and other current assets | 571 | 272 |
| Current assets, discontinued operations | — | 1,233 |
| Total current assets | 9,038 | 1,935 |
| Operating lease right-of-use assets | 343 | 955 |
| Property and equipment, net | 12 | 44 |
| Other assets | 479 | 480 |
| Other assets, discontinued operations | — | 9 |
| TOTAL ASSETS | $9,872 | $3,423 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Liabilities: | ||
| Current liabilities: | ||
| Accounts payable | $800 | $109 |
| Accrued liabilities | 1,780 | 581 |
| Bridge Loan | — | 500 |
| Unsecured Convertible Notes, net of discounts | 84 | 65 |
| Operating lease liabilities | 403 | 398 |
| Current liabilities, discontinued operations | — | 1,190 |
| Total current liabilities | 3,067 | 2,843 |
| Operating lease liabilities-non-current | 638 | 709 |
| Total liabilities | 3,705 | 3,552 |
| Commitments and contingencies (Note 7) | ||
| Stockholders’ equity (deficit): | ||
| Preferred stock, $0.01 par value; 5,000 shares authorized; Series B Preferred Stock; 1 shares issued and outstanding at March 31, 2025 and December 31, 2024 | 6 | 6 |
| Common stock, $0.01 par value; 150,000 shares authorized, 5,816 and 4,885 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively | 58 | 49 |
| Additional paid-in capital | 181,890 | 183,273 |
| Accumulated deficit | (175,787) | (183,457) |
| Total stockholders’ equity (deficit) | 6,167 | (129) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $9,872 | $3,423 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.