KindlyMD Delays Quarterly Filing as Merger Accounting Drives Losses, Shares Down 7%

Kindly MD announced it will delay its quarterly earnings report due to complex merger-related accounting tied to its acquisition of Nakamoto Holdings. The company, which is now the 19th largest bitcoin treasury firm, reported expected substantial losses including a realized loss of approximately $1.41 million and an unrealized loss around $22.07 million. The losses stem from the merger as well as digital asset volatility. Despite offsetting gains from contingent liabilities, the shares of Kindly MD dropped by 7%, trading at $0.57. The delay comes as the firm works to comply with US GAAP accounting standards and PCAOB review procedures, indicating they will utilize the five-day extension provided by the SEC for filing the Form 10-Q for the period ending September 30.

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