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LOS ANGELES - Eva Live Inc. (OTCQB:GOAI), an artificial intelligence company, has initiated a 4-to-1 reverse stock split effective today, as part of its strategy to qualify for uplisting to a national securities exchange. The company’s common stock will begin trading on a split-adjusted basis immediately. According to InvestingPro data, the stock has seen a significant 20% price increase over the past six months and is currently trading near its 52-week high.
The reverse stock split aims to elevate the company’s share price to meet the listing standards of a national exchange, which the company believes will enhance shareholder value and attract more institutional investors. While the company has achieved impressive revenue growth of 153% in the last twelve months, InvestingPro data reveals challenges with an EBITDA of -$12.41M and a weak gross profit margin of 33%. David Boulette, CEO of Eva Live Inc., stated that the reverse split is crucial for the company’s long-term growth and expansion plans.
Under the terms of the reverse stock split, every four shares of the company’s issued and outstanding common stock will be combined into one share. Shareholders will not receive fractional shares; instead, they will be rounded up to the nearest whole share. The adjustment will occur automatically in shareholders’ accounts without any required action on their part.
Eva Live Inc. is focused on developing advanced AI solutions for businesses and consumers, utilizing technologies such as machine learning and natural language processing to enhance efficiency and innovation. The company is committed to ethical AI development and ongoing research in the field.
Investors can find additional information about the reverse stock split in the company’s filings with the Securities and Exchange Commission (SEC). This move is based on a press release statement and involves forward-looking statements that are subject to risks, uncertainties, and other factors that could affect actual outcomes.
Eva Live Inc. has made clear that it does not intend to update any forward-looking statements unless required by law. The company’s future results could be influenced by market conditions, regulatory approvals, and its ability to meet the listing requirements of a national securities exchange. For deeper insights into Eva Live’s financial health and additional analysis, investors can access more than 30 key financial metrics and exclusive ProTips through InvestingPro.
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