Bitcoin Treasury KindlyMD faces Nasdaq delisting, stock price drops 99%.

Bitcoin financial management company KindlyMD is facing the risk of being delisted from Nasdaq.

According to exchange regulations, the company must regain compliance by June 8, 2026. To achieve this, the company's stock price must close at $1 or above for 10 consecutive trading days.

The company's stock is traded on Nasdaq under the ticker symbol 中井 with the stock code NAKA, and closed at $0.38 on Tuesday. Since October and November, the stock price has remained below $1, down nearly 99% from its yearly high of $34.77.

There is still room for improvement in the exchange's regulatory oversight.

Nasdaq wrote in its notice: "Nasdaq may, at its discretion, require a company to maintain this closing price for more than 10 consecutive trading days (usually not more than 20 trading days) before determining that the company has regained compliance." KindlyMD shared this notice with investors via [relevant link should be inserted here]. U.S. Securities and Exchange Commission filing.

KindlyMD completed a merger with Nakamoto in August, forming a Bitcoin merger company with David Bailey serving as CEO of the merged entity. The real trouble began to brew. In September, previously restricted shares sold during a $200 million financing round were unlocked.

"For those shareholders who came seeking trading opportunities, I suggest you exit," Bailey said in a shareholder letter at the time. "This transition period may bring uncertainty for investors, and we look forward to our supporters coming together with confidence after the transition ends."

The company encountered more trouble in November, when it had to delay the release of its third-quarter financial report and cited the complex accounting methods following the merger with Nakamoto.

According to data, KindlyMD currently holds 5,398 Bitcoin, valued at $474 million at today's prices. Bitcoin Treasury Meanwhile, the company's market capitalization has dropped to $256 million.