SDEV — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-29

• Pursuant to oversight by our Board of Directors (the “Board”) and recommendations from our Investment Advisory Committee, our core business consists of the accumulation, holding and deployment of operating digital assets for use within blockchain-based networks to support protocol-level services, in…

• The Company safeguards its SKY through Company-controlled wallets secured by the multi-party computation ("MPC") key management platform provided by Fireblocks, Inc. (“Fireblocks”) and maintains a qualified custody relationship with Payward Financial, Inc. (doing business as Kraken Financial), a Wyo…

• The legal and regulatory landscape applicable to blockchain-based networks and digital assets continues to evolve in the United States and internationally. Multiple regulators have asserted jurisdiction over aspects of digital asset markets, including anti-money laundering compliance, market integri…

• A substantial portion of the Chief Executive Officer’s potential compensation under the CEO PSUs depends on the Company’s stock price and on the growth of the Company’s Digital Asset NAV. Digital Asset NAV is affected by the Company’s decisions to acquire, hold, stake, or dispose of digital assets. …

• The VWAP RSU tranches are earned upon the Company’s Common Stock achieving 10-trading-day VWAP thresholds of $1.70, $2.55, and $5.10 per share during a five-year performance period beginning October 16, 2026. The closing price of the Company’s Common Stock on September 30, 2026 was $2.59, which exce…

Text removed vs the prior filing · source: 10-Q · 2026-07-30

• Pursuant to oversight by our Board of Directors and our Digital Asset Strategy Advisory Committee established by our Board of Directors, our core business consists of the accumulation, holding, and deployment of operating digital assets for use within blockchain-based networks to support protocol-le…

• The Company holds and safeguards its SKY tokens through a combination of qualified third-party custody and Company-controlled wallets managed through third-party key management infrastructure. Payward Financial, Inc. (“Kraken”) serves as the Company’s qualified custodian pursuant to Wyoming law.

• The regulatory framework applicable to blockchain-based networks and digital assets continues to evolve in the United States and internationally. Regulatory developments affecting trading venues, custodians, or service providers may impact access, liquidity, or pricing of digital assets held by the …

• A substantial portion of the Chief Executive Officer's potential compensation under the CEO PSU awards is tied to the growth of the Company's Digital Asset NAV, which is affected by the Company's decisions to acquire, hold, stake, or dispose of digital assets. The CEO PSU awards were designed and ap…

• During the three months ended June 30, 2026, the Company completed several significant corporate actions that advanced its digital asset treasury strategy and simplified its capital structure. On June 12, 2026, the Company agreed with R01, and on June 15, 2026, the Company agreed with Framework, to …

Text removed vs the prior filing · source: 10-Q · 2026-07-30

• On February 24, 2026, the Company and its directors were named as defendants in a putative class action (the “Action”) filed in the Delaware Court of Chancery by a purported stockholder of the Company. The lawsuit is captioned Edward Smith v. NovaBay Pharmaceuticals, Inc. et al., C.A. No. 2026-0260-…

• The individual defendants and the Company believe that the allegations in the Action were meritless, denied and continue to deny those allegations, and deny that any violation of applicable law has occurred. However, solely to minimize expenses and distraction and to avoid the uncertainty of any lit…

• On May 12, 2026, the parties entered into a Stipulation and Proposed Order Dismissing the Action as Moot (the “Stipulation and Proposed Order”), pursuant to which the Company agreed to pay $225 thousand to fully resolve the plaintiff’s counsel’s claim for an award of attorneys’ fees and reimbursemen…

• In entering the Stipulation and Proposed Order, the Court was not asked to review, and did not pass judgment on, the payment of the attorneys’ fees and expenses or their reasonableness.

Text added vs the prior filing · source: 10-Q · 2026-10-29

• During the three months ended September 30, 2026, there have been no material changes to the procedures by which security holders may recommend nominees to our Board of Directors.

• During the three months ended September 30, 2026, none of our directors or Section 16 officers adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each such term is defined in Item 408 of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-07-30

• During the three months ended June 30, 2026, none of our directors or Section 16 officers adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each such term is defined in Item 408 of Regulation S-K.