Taoping (TAOP) Receives Nasdaq non-compliance Notice

Taoping Inc. (Nasdaq: TAOP), a provider of innovative smart cloud platform services and solutions, new media and artificial intelligence (AI) solutions, today announced that on December 19, 2024, it received notification from The Nasdaq Stock Market LLC ("Nasdaq") confirming the Company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through June 16, 2025.

To regain compliance with Nasdaq's minimum bid price requirement set forth under Nasdaq Listing Rule 5810(c)(3)(A), the closing bid price of the Company's ordinary shares needs to be at least US$1.00 per share or greater for at least ten consecutive business days by June 16, 2025.

The Company intends to monitor the closing bid price of the ordinary shares and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to June 16, 2025 in order to regain compliance.

This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of the Notification Letter. The Notification Letter has no immediate effect on the listing of the Company's ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker "TAOP".

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