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Eva Live Inc, a Nevada-based company specializing in computer programming and data processing services, has announced a significant change in its capital structure. The company, which has seen its stock surge over 100% year-to-date according to InvestingPro data, reported the completion of a 1-for-4 reverse stock split and an increase in authorized shares through a Certificate of Amendment filed with the Secretary of State of Nevada.
As of Monday, the company’s total authorized shares have been elevated to 305 million, comprising 300 million shares of common stock and 5 million shares of preferred stock, each with a par value of $0.0001. The reverse stock split, which became effective on February 4, 2025, consolidated every four shares of issued and outstanding common stock into one share. This move aims to reduce the total number of outstanding shares from approximately 125 million to 31 million, without altering the stockholder’s percentage ownership, except for adjustments due to rounding of fractional shares. Despite showing strong revenue growth of 152% in the last twelve months, InvestingPro analysis indicates the company’s overall financial health score remains weak at 1.53 out of 5.
Stockholders who held fractional shares as a result of the reverse stock split will receive one whole share instead of a fractional share. Direct Transfer, LLC, the company’s transfer agent, is managing the exchange process and will provide instructions to stockholders holding stock certificates. Those with shares in brokerage accounts do not need to take any action, as the changes will be automatically reflected.
The Financial Industry Regulatory Authority (FINRA) announced the reverse stock split on February 10, 2025, with the stock set to trade on a split-adjusted basis on the OTC Markets from the market open on February 11, 2025. The company’s trading symbol, "GOAI," will remain unchanged, but the common stock will have a new CUSIP number, 298892209, following the reverse stock split. The stock is currently trading near its 52-week high of $4, though analysis suggests it may be overvalued at current levels.
This strategic move by Eva Live Inc has been approved by both the company’s board of directors and its stockholders. The information regarding these corporate actions is based on the latest SEC filing by the company.
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