Taoping Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

Taoping Inc. has announced that it has cured the bid price deficiency and regained compliance with Listing Rule 5550(a)(2) of The Nasdaq Stock Market. The company's ordinary shares will continue to trade uninterrupted on NASDAQ under the ticker 'TAOP'.

SHENZHEN, China, Aug. 16, 2023 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company" or "Taoping"), today announced that on August 15, 2023, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has cured the bid price deficiency, and that the Company has regained compliance with Listing Rule 5550(a)(2). Accordingly, this matter is now closed and the Company's ordinary shares will continue to trade uninterrupted on NASDAQ under the ticker "TAOP".

About Taoping Inc.

Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative solutions to help customers in both the private and public sectors to more effectively communicate and market to their desired targets. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. For more information about Taoping, please visit www.taop.com. You can also follow us via LinkedIn, Twitter or YouTube.

Safe Harbor Statement

This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results due to our limited operating history of providing smart cloud services, the effects of the global Covid-19 pandemic, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

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SOURCE Taoping Inc.

FAQ

What did Taoping Inc. announce?

Taoping Inc. announced that it has regained compliance with Listing Rule 5550(a)(2) of The Nasdaq Stock Market.

What does this mean for the company?

This means that the company has cured the bid price deficiency and its ordinary shares will continue to trade uninterrupted on NASDAQ under the ticker 'TAOP'.

What is the significance of regaining compliance with Listing Rule 5550(a)(2)?

Regaining compliance with Listing Rule 5550(a)(2) is important for the company as it ensures that its shares can continue to be traded on NASDAQ.

Will there be any interruption in trading for Taoping Inc.?

No, there will be no interruption in trading for Taoping Inc. as its ordinary shares will continue to trade uninterrupted on NASDAQ.

What is the ticker symbol for Taoping Inc.?

The ticker symbol for Taoping Inc. is 'TAOP'.