Taoping Inc Stock Price, News & Analysis

Taoping Inc. (NASDAQ: TAOP) has entered into a share purchase agreement to acquire a 51% stake in Render Lake Tech Ltd., a cloud infrastructure service provider based in Canada. This acquisition, valued at approximately $1.53 million, will be completed in four phases involving the issuance of 144,204 ordinary shares of TAOP. The deal aims to expand Taoping's capabilities in cloud computing, NFT, and online gaming, with Mr. Qian Wang appointed as CIO and director of the NFT Business Division. The closing is targeted for April 30, 2021, pending customary conditions.

Taoping Inc. (NASDAQ: TAOP) has announced a strategic cooperation framework agreement with Shanghai Guanghua Education and Wuhu Sasan Education. This three-year partnership aims to establish a joint venture in Wuhu, China, where TAOP will hold 51% equity. The joint venture will focus on digitalizing educational resources and providing online education through TAOP's smart cloud platform. Additionally, they plan to collaborate on study abroad programs and explore cloud computing opportunities. This initiative is expected to enhance the quality and accessibility of education in over 200 Chinese cities.

Taoping Inc. (NASDAQ: TAOP) has entered into a strategic cooperation agreement with BitFuFu.com to enhance their blockchain cloud computing initiatives. The agreement includes a $10 million purchase of blockchain cloud computing services over three years, starting with a $1 million subscription for the first year. This partnership aims to facilitate Bitcoin mining using Antminer, a leading mining brand. The CEO stated this marks the launch of TAOP's blockchain and digital asset business, focusing on joint development in blockchain technology.

Taoping Inc. (NASDAQ: TAOP) has announced a share purchase agreement to acquire 100% equity interest in Taoping New Media Co., Ltd. This strategic acquisition positions TAOP to enter China's $25.5 billion out-of-home advertising market, enhancing its revenue streams from the existing digital advertising network. The deal involves issuing 1,213,630 ordinary shares to Taoping New Media's shareholders, valued at $10.24 million. The transaction is set to close by May 10, 2021, subject to certain conditions, including internal approvals and no adverse impacts before closing.

Taoping Inc. (NASDAQ: TAOP) has announced the creation of a new Digital Culture Business Division aimed at expanding its presence in the new media and education sectors. The division will integrate AI and big data technology to develop a platform that connects online and offline channels. Zhixiong Huang has been appointed as director, alongside Huan Li, who brings over 15 years of media experience. This initiative is part of Taoping's strategy to capitalize on growth opportunities in the digital culture industry.

Taoping Inc. (NASDAQ: TAOP) announced the establishment of a Blockchain Business Division and the appointment of Linxi Deng as its director. Deng brings over five years of experience in Bitcoin mining operations, previously serving as COO at Polar Bear Mining. She has also held significant roles at New Block (Beijing) Technology and various internet firms. The company aims to leverage Deng's expertise to enhance its growth strategy in the blockchain sector.

Taoping Inc. (NASDAQ: TAOP) has appointed Dongfeng Wang as Chief Strategy Officer, focusing on blockchain and digital asset business development. His extensive experience in the internet and blockchain sectors positions him well to identify marketplace opportunities. Wang co-founded Forgame Group, which went public in Hong Kong, and has significant experience in investment and entrepreneurship. This strategic addition aims to enhance the company's capabilities in the evolving digital landscape, as articulated by Chairman and CEO Jianghuai Lin.

Taoping Inc. (NASDAQ: TAOP) has entered a securities purchase agreement with strategic investors to sell 500,000 ordinary shares at $6.70 each, raising $3.35 million before expenses. The registered direct offering will be conducted under an effective shelf registration statement. The proceeds are expected to support the company’s operations, focusing on internet-based display solutions for targeted advertising and online retail. Further details will be available in a Form 6-K filing.

Taoping Inc. (NASDAQ: TAOP) announced a securities purchase agreement to raise approximately $7.75 million through the issuance of 1,900,000 ordinary shares at an average price of $4.08. The funds will be allocated for working capital and corporate purposes. The private placement is set to close by March 21, 2021 and is contingent on customary closing conditions. The offering is conducted under exemptions from registration requirements, thus the securities are unregistered. TAOP aims to leverage this financing to enhance value creation in 2021.