Gold bars to be exempt from tariffs, White House clarifies
ROUND ROCK, Texas - AYRO, Inc. (NASDAQ:AYRO) announced Tuesday it is exploring strategic alternatives to enhance stockholder value, including initiatives focused on stablecoin technology and growth of its core business. According to InvestingPro data, the company’s stock has declined over 44% in the past six months, highlighting the urgency for strategic changes.
The electric vehicle manufacturer reported a cash position of approximately $15.4 million as of March 31, 2025, which it says provides flexibility to pursue strategic opportunities. While InvestingPro analysis shows AYRO maintains more cash than debt and a healthy current ratio of 2.2, data also indicates the company is quickly burning through its cash reserves. Get access to 13 more exclusive InvestingPro Tips to better understand AYRO’s financial position.
"We continue to actively explore all strategic avenues to create value for our stockholders," said Josh Silverman, Executive Chairman of AYRO, in a press release statement.
The company also announced a 1-for-16 reverse stock split effective Wednesday, June 25, 2025. AYRO’s common stock will begin trading on a split-adjusted basis when markets open Thursday, June 26, under the same NASDAQ:AYRO symbol but with a new CUSIP number (054748306). With a beta of 3.46, the stock has shown significant volatility compared to the broader market.
The reverse split, approved by stockholders at the annual meeting on May 19, 2025, will reduce outstanding shares from approximately 8.69 million to about 543,217 shares. Any fractional shares resulting from the split will be rounded up to the nearest whole number.
AYRO designs and produces zero emission vehicles, including its flagship AYRO Vanish. The company’s announcement indicates a potential shift in business focus, with specific interest in technologies underlying stablecoins while maintaining its electric vehicle operations. Based on InvestingPro’s Fair Value analysis, the stock appears fairly valued at current levels, though analysts anticipate sales declines in the current year.
The company’s stock will continue trading on the Nasdaq Capital Market, with proportional adjustments being made to equity awards, warrants, and other convertible securities.
In other recent news, AYRO Inc. held its annual meeting where stockholders approved an amendment to increase the authorized shares of common stock from 200 million to 1.2 billion. This change in the company’s Amended and Restated Certificate of Incorporation was filed with the Secretary of State of Delaware. Additionally, the stockholders elected six directors to the board and ratified CBIZ CPAs P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2025. A potential reverse stock split was also approved for a future date. In a related development, AYRO Inc. announced a change in its independent accounting firm, transitioning from Marcum LLP to CBIZ CPAs P.C. following Marcum’s attest business acquisition by CBIZ. Marcum’s reports for 2023 and 2024 did not contain adverse opinions, although the 2024 report did express doubt about AYRO’s ability to continue as a going concern. The company disclosed material weaknesses in its internal control over financial reporting, citing issues like insufficient segregation of duties. These developments reflect AYRO’s ongoing adjustments in corporate governance and financial oversight.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.