Wu Shuo has learned that, according to Blockspace disclosures, Nakamoto Inc. under David Bailey (stock code: NAKA) has submitted Schedule 14A to the U.S. SEC, planning to hold a special shareholders' meeting on May 8.

The main agenda of the meeting is to seek approval for a reverse stock split proposal with a ratio between 1:20 and 1:50.
It is reported that NAKA's move aims to bring the stock price back to the minimum compliance level of $1 required by Nasdaq to avoid potential delisting risks.