House of Doge Major Shakeup: Terminates Official Dogecoin License, Replaces CEO, and Plans to Acquire McQueen Labs

BlockBeats news, October 26 - Nasdaq-listed company House of Doge Inc. (ticker: HODO) filed an 8-K on October 23, disclosing several major matters:

Leadership changes: Former CEO Marco Margiotta and CFO Charles Park resigned on October 22. The board appointed McQueen Labs CEO Curtis Hopkins as interim CEO and interim CFO.

Termination of original Dogecoin official authorization: An agreement was reached with the Dogecoin Foundation and MadeUpNumbers Ltd. to terminate the previously amended trademark license agreement. The company must change its corporate name by December 31, 2026, and cease using phrases such as "official corporate arm" or "official commercial partner." At the same time, a new non-exclusive trademark license agreement was signed, limited to designated 21Shares Dogecoin-related products and new products approved in writing, with revenue sharing required.

Asset transfer: Assets related to the Such App mobile application were transferred to ABJ Labs Inc. (operating as Dogecoin Labs) in exchange for $4 million worth of Dogecoin Labs common stock (based on a $120 million pre-money valuation). The transaction has not yet closed.

Proposed acquisition of McQueen Labs: A binding letter of intent was signed with McQueen Labs to acquire its MCQ Markets token platform and micro-lending business. The consideration for the token platform is $15 million, payable mainly in stock (no more than 19.99% common stock + 30% non-voting convertible preferred stock) and promissory notes.

The company also stated that it will evaluate a reverse stock split, financing plans, and rebranding.