Microvast Holdings announces departure of chief financial officer
Retractable Technologies (NASDAQ:RVP) President and CEO Thomas J. Shaw reported purchasing 21,687 shares of common stock at a price of $0.6582 on June 17, 2025. The total value of the purchase was $14,274. The purchase comes as the stock trades near its 52-week low of $0.56, with InvestingPro analysis suggesting the company is currently undervalued despite facing profitability challenges.
Following the transaction, Shaw directly owns 15,440,673 shares of Retractable Technologies. Shaw also indirectly owns 831,600 shares through voting or investment control. The company, with a market capitalization of $19.6 million, maintains a strong balance sheet with more cash than debt, though InvestingPro data reveals rapid cash burn in recent quarters. Subscribers can access 6 additional key insights about RVP’s financial health.
In other recent news, Retractable Technologies Inc. has appointed a new independent registered public accounting firm following a merger involving its previous auditor. Moss Adams LLP, the former auditor, merged with Baker Tilly US, LLP, leading to Moss Adams’ resignation. As a result, the Audit Committee of Retractable Technologies’ Board of Directors approved Baker Tilly as the new auditor. The audit reports from Moss Adams for the fiscal years ending December 31, 2023, and 2024, as well as the three-year period ending December 31, 2024, did not contain any adverse opinions or disclaimers. There were no disagreements between Retractable Technologies and Moss Adams regarding accounting principles or auditing procedures during the specified periods. Retractable Technologies confirmed that there were no consultations with Baker Tilly on accounting principles or audit opinions prior to their appointment. The company also provided Moss Adams with a copy of the SEC filing, and Moss Adams confirmed their agreement with the statements made in the report. These developments were disclosed in a press release and an SEC filing.
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