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Midas Edge

Stablecoin Development Corp

For the period ended Mar 31, 2026. Filed May 15, 2026.

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About this filing

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, 2026 · Filed May 15, 2026

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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Contents

Item 1. FINANCIAL STATEMENTS

STABLECOIN DEVELOPMENT CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value amounts)

March 31, 2026December 31, 2025
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents$18,405$7,958
Prepaid expenses and other current assets648717
Total current assets19,0538,675
Digital assets, at fair value160,086—
Other assets604360
TOTAL ASSETS$179,743$9,035
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Liabilities:
Current liabilities:
Accounts payable$1,978$257
Accrued liabilities1,127396
Unsecured Convertible Notes, net of discounts—67
Operating lease liabilities471422
Total current liabilities3,5761,142
Warrant liabilities, at fair value33,715639,071
Operating lease liabilities-non-current166287
Deferred tax liabilities, net3,461—
Total liabilities40,918640,500
Commitments and contingencies (Note 7)
Mezzanine (temporary) equity:
Preferred stock, $0.01 par value; 5,000 shares authorized; Series F Preferred Stock; 0 and 1,347 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively—350
Stockholders’ equity (deficit):
Preferred stock, $0.01 par value; 5,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at March 31, 2026 and December 31, 2025—6
Common stock, $0.01 par value; 5,000,000 shares authorized, 26,717 and 25,216 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively*267252
Additional paid-in capital*405,209186,981
Accumulated deficit(266,651)(819,054)
Total stockholders’ equity (deficit)138,825(631,815)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)$179,743$9,035
*After giving retroactive effect to a 1-for-5 reverse stock split that became effective February 20, 2026.
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.