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Nakamoto, the company owning Bitcoin Magazine and conferences, plans a 1-for-40 reverse stock split to avoid NASDAQ delisting after its share price fell below $1 for 30 consecutive days.
Nakamoto's share price closed at 16 cents, down 99% from May last year when it traded above $25. The company reported a $238.8M Q1 net loss, with over $102M attributed to mark-to-market losses on its 5,000 Bitcoin treasury.
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