Nakamoto Stock at $0.22, Faces Nasdaq Delisting by June 8

Nakamoto received a Nasdaq deficiency notice on December 10 after its stock traded below ₱60 ($1) for 30 consecutive business days. The company now has until June 8 to close at or above $1 for 10 consecutive days or face delisting.

The stock trades around $0.21, down 99% from its all-time high of $34. CEO David Bailey used the collapsed stock to buy two companies he founded — BTC Inc. and UTXO Management — in a deal that doubled outstanding shares to approximately 690 million. Renowned short seller Jim Chanos dubbed the transaction "Theater of the Absurd."

Nakamoto disclosed in March it sold 284 BTC at $70,422 per coin to fund operations, realizing losses against a weighted average purchase price of $118,171. The company accumulated 5,342 BTC during 2025 at that higher cost basis, totaling approximately ₱37.73 billion ($631.39 million) in purchases. Year-end 2025 financials showed a ₱3.12 billion ($52.2 million) net loss driven by a ₱9.93 billion ($166.2 million) decline in digital asset fair value.

The company said in an SEC filing that approval of a reverse stock split proposal would provide additional flexibility to address the minimum bid price requirement if necessary. Nakamoto warned that issuing additional shares would be dilutive to existing stockholders and may cause a decline in the trading price of its common stock.

Nakamoto originated from a May 12, 2025 merger between Kindly MD and Nakamoto Holdings, pivoting from a healthcare model to a Bitcoin treasury strategy. The company's authorized share count stands at 10 billion, and if the June 8 deadline passes, Nasdaq may grant an additional 180-day extension.