Stablecoin Development Corp
SDEVNYSEHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | $9.8M | $10.5M | $14.4M | $10.2M | $9.9M |
| Operating income | −$8.4M | −$7.4M | −$4.1M | −$14.4M | −$8.9M | −$6.4M |
| Net income | −$22.1M | −$7.2M | −$9.6M | −$10.6M | −$5.8M | −$11.0M |
| Total assets | $9.0M | $3.4M | $9.0M | $16.4M | $24.0M | $15.2M |
| Total liabilities | $31.9M | $3.6M | $5.7M | $5.8M | $13.8M | $2.9M |
| Equity | −$23.2M | −$129,000 | $3.3M | $10.6M | $10.2M | $12.3M |
| EPS (diluted) | $-3.80 | $-12.68 | $-139.14 | $-10.10 | $-5.26 | $-0.31 |
| Shares out. | 5.8M | 30.1M | 2.0M | 51.4M | 41.8M | 28.0M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- 95.5%
- Return on assets
- −245.1%
- Return on capital (ROCE)
- −106.9%
- Liabilities / assets
- 352.6%
- Debt / equity
- —
- Book value / share
- $-3.98
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -77.49distress
- Accruals / assets
- −151.8%clean
- Piotroski F-Score
- 3/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 3 severe● 2 warning● 2 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Strong return on equity (>15%)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Apr 1, 2025
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Sky Frontier FoundationActivist (13D)May 27, 2026
- Tether Global Investments Fund, S.I.C.A.F., S.A.Passive (13G)May 22, 2026
- Framework Ventures Iv L.P.Activist (13D)May 19, 2026
- R01 Fund LpActivist (13D)May 19, 2026
- Poplar Point Capital Management LlcActivist (13D)Mar 11, 2026
- Lazar David E.Activist (13D)Jan 29, 2026
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Lazar David E.10% owner | Oct 21, 2025 | Grant | 6.4M | — |
| Framework Ventures Iv L.P.10% owner | Oct 21, 2025 | Conversion | 56.8M | $0.00 |
| R01 Fund LpOfficer — Chief Executive Officer | Oct 21, 2025 | Conversion | 56.8M | $0.00 |
| Kazley Michael JohnOfficer — Chief Executive Officer | Oct 21, 2025 | Conversion | 56.8M | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 383,003 | 3.5 | -17.5% |
| Apr 30, 2026 | 464,405 | 3.9 | +2.5% |
| Apr 15, 2026 | 453,151 | 1.7 | -30.0% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operations · Regulation FD disclosureMay 20, 2026
- Prior financials not reliable (restatement)Apr 29, 2026
- Results of operationsApr 6, 2026
- Director / officer change · Amended charter or bylawsApr 1, 2026
- Results of operations · Regulation FD disclosure · Other material eventMar 23, 2026
- Amended charter or bylaws · Shareholder voteMar 12, 2026
- Modified shareholder rights · Amended charter or bylawsFeb 20, 2026
- Other material eventFeb 12, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- SCHEDULE 13DMay 27, 2026
- SCHEDULE 13GMay 22, 2026
- 8-KFORM 8-KMay 20, 2026
- SCHEDULE 13D/AMay 19, 2026
- SCHEDULE 13D/AMay 19, 2026
- 4FORM 4May 19, 2026
- 4FORM 4May 19, 2026
- 4FORM 4May 19, 2026
- 10-QFORM 10-QMay 15, 2026
- 4/AFORM 4/AApr 30, 2026
- 4/AFORM 4/AApr 30, 2026
- 4/AFORM 4/AApr 30, 2026
- SCHEDULE 13D/AApr 30, 2026
- SCHEDULE 13D/AApr 30, 2026
- 10-K/AFORM 10-K/AApr 29, 2026