Taoping Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

Core Points - Taoping Inc. has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share [1][2] - The company has a compliance period of 180 calendar days until December 18, 2024, to regain compliance [3] - If the company fails to regain compliance, it may be eligible for an additional 180-day grace period under certain conditions [4] Compliance Details - The non-compliance was determined based on the closing bid price for 30 consecutive business days from May 6, 2024, to June 20, 2024 [2] - To regain compliance, the company must maintain a closing bid price of at least$1.00 for a minimum of 10 consecutive business days during the compliance period [3] - The company may consider implementing a reverse stock split to meet the minimum bid price requirement [5] Current Status - The notification does not have an immediate effect on the trading of the company's ordinary shares, which will continue to trade on Nasdaq under the ticker "TAOP" [5] - The company intends to monitor its closing bid price and explore options to regain compliance [5] Company Overview - Taoping Inc. specializes in developing innovative smart cloud platform services, new media, and artificial intelligence solutions [1][6] - The company has established a city partner ecosystem and a comprehensive portfolio of high-value areas for its products [6]