Sharps Technology's stock price of SOL treasury company drops to a historic low after submitting its first quarterly financial report BlockBeats News: On November 18th, Sharps Technology announced its first quarterly financial report after adopting a Solana centered digital asset reserve strategy. The data shows that its core medical device business has minimal revenue, while the company holds nearly 2 million SOL tokens. This Nasdaq listed company disclosed in regulatory documents that its digital asset portfolio had a fair value of $404 million as of September 30, but this data reflects the end of quarter price level. However, based on the current SOL price of approximately $138, the company's position valuation has significantly decreased to $275 million. In addition, the company's quarterly product revenue was only $83622, while product costs exceeded $1.2 million, resulting in significant losses in manufacturing operations. Sales and administrative expenses surged to $110.7 million, driving the quarterly net loss to nearly $103 million. Driven by cryptocurrency holdings, total assets surged from $7.3 million at the end of last year to $444 million. The financial report also shows that the company recognized unrealized gains of $15.5 million in digital assets for the current period, and listed $7.6 million in margin loans and multiple warrant liabilities related to the August financing. Sharps announced at the end of August the launch of Solana's asset reserve strategy through over $400 million in private equity financing, supported by institutions such as ParaFi Capital and Pantera Capital. In early October, a $100 million stock repurchase plan was proposed, but the latest documents did not disclose the progress of the plan. The market response remains sluggish. The company's stock price fell to a historic low this week and has been declining for several months since hitting a high of $16 at the end of August. According to Google Finance data, the stock price fell below $2.90 on Monday morning, and the market value was significantly lower than the current implied value of its Solana holdings.