Company: HSDTW
Filing Date: 2025-04-22
Form Type: PRE 14A
Source: 0001104659-25-037535
Chunk: 9

Company: Solana Co
Filing Date: 2025-04-22
Form: PRE 14A
Chunk 9
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 Reverse Stock Split Certificate of Amendment
”) is attached hereto as Appendix A . The following discussion is qualified in its entirety by the full text of the Reverse Stock Split Certificate of Amendment, which is incorporated herein by reference.

The Board has recommended the proposed Reverse Stock Split Certificate of Amendment to effect the reverse stock split be presented to the Company’s stockholders for approval. If the Reverse Stock Split Certificate of Amendment is approved by a majority of the Company’s stockholders, the Board will have discretion to determine, as it deems to be in the best interest of the Company’s stockholders, the specific ratio to be used within the range described above and the timing of the reverse stock split, which must occur any time prior to the first anniversary of its approval by the stockholders. The Board believes that stockholder approval of the range of reverse stock split ratios (as opposed to approval of a single reverse stock split ratio) provides the Board with maximum flexibility to achieve the purpose of a reverse stock split, as discussed below, and therefore is in the best interests of the Company and its stockholders.

The Board may, in its discretion, determine not to effect the reverse stock split if it determines, subsequent to obtaining stockholder approval, that such action is not in the best interests of the Company. By voting in favor of the reverse stock split, you are expressly authorizing the Board to determine not to proceed with, and abandon, the reverse stock split if it should so decide. The Board may, in its discretion, determine not to effect the reverse stock split if it determines, subsequent to obtaining the stockholder approval anticipated by the approval of Proposal 1, that such action is not in the best interests of the Company.

#### Reasons for the Reverse Stock Split
The Company’s Common Stock is quoted on the Nasdaq Capital Market under the symbol “HSDT.”

For the Common Stock to continue trading on the Nasdaq Capital Market, the Company must comply with various listing standards, including that our Common Stock maintain a minimum bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “

#### Minimum Bid Price Requirement
”). The closing price of the Company’s Common Stock on the Nasdaq Capital Market on April 21, 2025 was $0.27 per share and, over the prior 52 weeks, the closing price of the Company’s Common Stock has ranged from $0.27 to $5.07 per share.

On April 21, 2025