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SHENZHEN, China - Taoping Inc. (NASDAQ:TAOP), a provider of smart cloud services currently trading at $0.29 with a market capitalization of $4.88 million, has announced a one-for-thirty reverse stock split approved by its board of directors. Starting May 29, 2025, the company’s ordinary shares will trade on the Nasdaq under the same ticker "TAOP" but with a new CUSIP number.
The reverse stock split will convert every thirty existing ordinary shares into one, aiming to boost the per-share trading price to comply with Nasdaq’s $1.00 minimum bid price rule for continued listing. The move comes as the stock has declined 61% over the past year and currently trades at just 0.31 times book value, according to InvestingPro data. Post-split, Taoping is expected to have approximately 0.89 million ordinary shares outstanding, not accounting for shares issuable under outstanding options and convertible notes.
Shareholders with shares in brokerage accounts will see the consolidation occur automatically, while those with share certificates will receive instructions from TranShare Corporation, the company’s transfer agent, on exchanging their certificates. The split will also proportionately adjust outstanding options, warrants, and other rights to purchase ordinary shares. InvestingPro subscribers have access to 13 additional key insights about Taoping’s financial health and valuation metrics.
No fractional shares will be issued; instead, fractional shares resulting from the split will be rounded up to the nearest whole share. The total number of authorized ordinary shares of Taoping will remain unaffected by the reverse stock split.
This strategic move is based on a press release statement and aims to satisfy listing requirements rather than altering the company’s total authorized shares. The information provided should be verified independently and does not endorse the company’s claims or future prospects.
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