Psyched Wellness Provides Corporate Update
Cash-burning micro‑cap supplement company faces leadership vacuum after CEO exit, with no safe‑harbor in sight.
Psyched Wellness announced the resignations of CEO Jeff Stevens (effective May 31, 2026) and director Janeen Stodulski (effective June 9, 2026). Stevens also resigned from all roles at the operating subsidiary AME Wellness Inc. Chairman Michael Nederhoff will serve as Interim CEO, and the Board is searching for a permanent replacement. No reason for the departures was provided.
This news is a negative signal, but its impact on a stock that has already collapsed to $0.01 is limited. The resignation of the CEO without explanation or a permanent successor increases governance uncertainty. In the context of the March 2026 financing that gave Gotham Green Fund board control (including nomination rights for a majority of directors), the departure likely marks the final transfer of power to the investor group. The market appeared to price in distress well beforehand; the stock has traded at $0.01 for months and showed no meaningful reaction on the day of the announcement. The event does not introduce a new financial shock or operational breakdown beyond what is already known, but it reinforces the pattern of instability.
Psyched Wellness develops and sells dietary supplements based on its proprietary Amanita muscaria extract (AME‑1). Its products — originally “Calm” and later a double‑strength version “Calmer,” plus a seasonal “Santa” shot — are marketed for relaxation and stress management. The company operates as a reporting issuer in Canada (CSE: PSYC) and a U.S. OTC listing. All meaningful revenue is generated from these consumer supplement sales, which remain at a very early stage.