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TAOP

TAOP US Stock
$10.42
Open: $10 High: $11.49 Low: $9 Close: $10.38
Range: 2021-03-02 - 2021-03-03
Volume: 1,002,414
Market: Open
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TAOP
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TAOP News
Latest news about the TAOP
  • TAOP Appoints Dongfeng Wang As Chief Strategy Officer

    SHENZHEN, March 03, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced the appointment of Dongfeng Wang to Chief Strategy Officer. Mr. Wang will be responsible for blockchain and digital assets business development and will be a driving force for the Company to uncover marketplace opportunities. “We are pleased to bolster our management team by adding Mr. Wang’s experience and expertise in blockchain and investment. As we seek to tap into the blockchain and digital asset market, Mr. Wang is exactly the transformational leader we need to seize the opportunities," said Mr. Jianghuai Lin, Chairman and CEO of TAOP. Mr. Dongfeng Wang, age 45, has 22 years of work experience in the Internet industry. He has gone through the era of PC Internet and mobile Internet, and deeply participated in the growing blockchain Internet. His rich entrepreneurship experience put him in the forefront of development trends in digital revolution, and enabled him to accumulate great management expertise in enterprise positioning and corporate innovation. In 2004, Mr. Wang founded Zcom Digital Magazine, one of the earliest e-magazine platforms in China. In 2009, Mr. Wang co-founded Forgame Group, a company engaged in the business of game and fintech in China, and successfully listed the company on the Main Board of The Stock Exchange of Hong Kong Limited in 2013. In 2017, Mr. Wang started investments in blockchain technology and digital assets mining operations as a venture partner of Longling Capital Co. Ltd, a Chinese venture capital firm specializing in seed stage, early stage and angel investments. Mr. Wang graduated from Beijing Construction University with a bachelor’s degree in International Trade. About Taoping Inc. Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For further information, please contact: Taoping Inc.Chang QiuEmail: chang_qiu@taoping.cnhttp: //www.taop.com/or Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: taop@dgipl.com

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  • TAOP Announces $3.35 Million Registered Direct Offering of Ordinary Shares

    SHENZHEN, March 02, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it has entered into a securities purchase agreement (the “Purchase Agreement”) with certain strategic investors (the “Investors”) on March 1, 2021. Pursuant to the Purchase Agreement, the Company agreed to sell to the Investors an aggregate of 500,000 ordinary shares, no par value (the “Ordinary Shares”) at a purchase price of $6.70 per share, in a registered direct offering. The gross proceeds to the Company from the financing are $3.35 million before deducting estimated offering expenses. For more details of the financing, please see the Company’s Report on Form 6-K to be filed on or about March 2, 2021. The Ordinary Shares described above are being offered through a prospectus supplement pursuant to the Company’s effective shelf registration statement and the base prospectus contained therein. A shelf registration statement (SEC Filing No. 333-229323) relating to these securities has been filed with and was declared effective by the Securities and Exchange Commission (the “SEC”) on February 11, 2019. A prospectus supplement related to the offering will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Taoping Inc. Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For further information, please contact: Taoping Inc.Chang QiuEmail: chang_qiu@taoping.cnhttp://www.taop.com/or Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: taop@dgipl.com

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  • TAOP Stock: The Blockchain Move That Has Smart Display Play Taoping Shooting Higher

    Taoping (NASDAQ:TAOP) stock is on the rise Friday after announcing a deal with Great Bay Capital Investment Limited. Source: Shutterstock A news release reveals that Taopin has entered into a two-year agreement that has Great Bay Capital serving as a consultant. This will have it offering business development services to the company with a focus on blockchain technology. That agreement will aid Taoping in its efforts to invest in cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH). It also gives the company the benefit of exposure to possible future investors in its business.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Another benefit for Taopin from the deal is the possible introduction to blockchain merger and acquisition targets. Great Bay Captial will also work alongside the company and help it with any M&A plans. The deal between the two companies also includes a warrant for Great Bay Capital. This is being given within seven days after the start of the consulting agreement. It allows Great Bay Capital to purchase 1,000,000 shares of TAOP stock at a price of $3.50 per share. 7 Overvalued Stocks Investors Just Don’t Get Tired Of Jianghuai Lin, chairman and CEO of Taoping, said this about the news boosting TAOP stock up today. “It’s time for TAOP to embrace the opportunities in blockchain industry and digital assets, especially Bitcoin. We believe Great Bay can help us achieve this goal.” News of the deal today has shares of TAOP stock experiencing heavy trading. As of this writing, more than 13 million shares have traded. For comparison, the daily average trading volume for the stock is closer to 403,000 shares. TAOP stock was up 16.5% as of Friday afternoon. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden's Presidency The post TAOP Stock: The Blockchain Move That Has Smart Display Play Taoping Shooting Higher appeared first on InvestorPlace.

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  • TAOP Enters into Consulting Agreement with Great Bay Capital Investment for Blockchain Deployment

    SHENZHEN, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announced today that the Company has entered into a consulting agreement (the "Consulting Agreement") with Great Bay Capital Investment Limited ("Great Bay"). Pursuant to the Consulting Agreement, TAOP engaged Great Bay as a consultant for a two-year term effective February 19, 2021. Great Bay will provide various consulting services including the following: Provide the Company with business development services focused on blockchain and digital assets (such as Bitcoin, Ethereum, etc.) investment opportunities. Introduce TAOP to potential investors for strategic investment. Introduce potential M&A targets in blockchain industry, and assist TAOP in completing relevant due diligence work and propose M&A plans. “TAOP started research on applying blockchain technology to Taoping New-media Ecosystem three years ago. In the past three years, we kept upgrading Taoping smart cloud platform and Taoping screens are now available in 211 cities across 26 provinces in China. Also, growing market demand for digital assets such as Bitcoin, maturity of advanced solutions, and improving regulatory clarity present considerable market opportunities. It’s time for TAOP to embrace the opportunities in blockchain industry and digital assets, especially Bitcoin,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We believe Great Bay can help us achieve this goal.” In consideration for the services to be provided by Great Bay, the Company agreed to issue to Great Bay a warrant (the “Warrant”) within 7 days after the execution of the Consulting Agreement for the purchase of 1,000,000 ordinary shares of the Company, exercisable at $3.50 per share (subject to adjustment) at any time prior to the 181st calendar day after the date of issuance. The Warrant can only be exercised for cash. The Warrant and its underly ordinary shares will be issued to Great Bay in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended and/or Regulation S promulgated thereunder. About Taoping Inc. Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For further information, please contact: Taoping Inc.Chang QiuEmail: chang_qiu@taoping.cnhttp://www.taop.com/or Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: taop@dgipl.com

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  • The Taoping (NASDAQ:TAOP) Share Price Is Up 60% And Shareholders Are Holding On

    Passive investing in index funds can generate returns that roughly match the overall market. But one can do better than...

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  • TAOP and Ivy International Education Forming Joint Venture to Develop and Market New Learning Programs for Quality Education

    NEW YORK, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announced today that the Company has entered into a strategic partnership agreement with Ivy International Education Technology Co., Ltd. (“Ivy International Education”) to develop and market new learning programs for quality education. Ivy International Education is a professional organization engaged in study abroad consulting, Project-Based Learning (PBL) program consulting, online education, and charitable education programs. Ivy International Education is the only authorized representative of interactive K-12 Online Learning program provider MommyDaddyMe in the Chinese mainland market. As part of the agreement, TAOP and Ivy International Education intend to form a joint venture company in China around February 2021. TAOP and Ivy International Education will own 51 percent and 49 percent equity interests in the joint venture, respectively. The joint venture plans to take the following actions in 2021: Attract high-income group with study abroad intent by taking advantage of Taoping’s new media ecosystem and established exclusive marketing spaces in residential buildings, office buildings, shopping malls, hotels, and cinemas in over 200 cities in China; Develop and promote online and offline Project-Based Learning (PBL) programs developed by Ivy International Education for quality education; Build a new online education platform by combining Taoping smart cloud platform technology and Ivy International Education’s experienced teacher team; Work together on charitable education programs. “We are excited about this partnership as we believe it is a milestone for TAOP to tap into the education market with growing demands for online and offline innovative learning programs,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We believe that by combining TAOP’s advertising network and smart cloud platform technology with Ivy International Education’s expertise in international and online education, the joint venture will be well positioned to bring new learning experience to our communities of over 200 cities in China.” About Taoping Inc. Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For further information, please contact: Taoping Inc.Chang QiuEmail: chang_qiu@taoping.cnhttp://www.taop.com/or Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: taop@dgipl.com

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  • TAOP Raises $2.0 Million To Accelerate Growth

    SHENZHEN, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it has entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors (the “Investors”) on January 19, 2021. Pursuant to the Purchase Agreement, the Company agreed to sell to the Investors an aggregate of 740,740 ordinary shares, no par value (the “Ordinary Shares”) at a purchase price of $2.7 per share, in a registered direct offering. The gross proceeds to the Company from the financing are approximately $2.0 million before deducting estimated offering expenses. For more details of the financing, please see the Company’s Report on Form 6-K to be filed on or about January 21, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. “We appreciate the Investors’ confidence in our management team and growth strategy, and will continue to serve customers well and create long-term value for shareholders," said Mr. Jianghuai Lin, Chairman and CEO of TAOP. About Taoping Inc. Taoping Inc. (TAOP), is a leading provider of smart display terminals for targeted advertising and online retail. The Company provides integrated end-to-end digital advertising solutions enabling customers to distribute and manage advertisements on advertisement display terminals. Connecting cloud-based advertisement terminal owners, advertisers and consumers, it builds up a resource sharing "Smart IoT Terminal - Taoping Net/ App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For further information, please contact: Taoping Inc.Chang QiuEmail: chang_qiu@taoping.cnhttp://www.taop.com/or Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: taop@dgipl.com

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  • Taoping Cooperates with Guangke Digital Technology to Expand Application of Taoping Smart Cloud Platform

    NEW YORK, Dec. 07, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that the Company has signed a strategic cooperation agreement with Guangke Digital Technology Co., Ltd. (“Guangke Digital”) for the application of Taoping Smart Cloud Platform to enable cloud operations of Guangke’s projection equipment. Guangke Digital is engaged in the development, production and manufacturing of photonic crystal metamaterial-based projection film and screen products. Such photonic films can be coated on glasses to enable double-sided display and can be coated on walls and projection screens to enable borderless high-resolution display. With projection equipment, the new films can be used in multiple scenarios such as retail showcases, transportation hubs and elevators. Over the years, Taoping has developed Taoping Smart Cloud Platform and the associated Cloud Window App, which provides a shared resource pool that integrates media resources and advertisers in an all-round and multi-channel manner, and provides cloud management, control, order optimization and maintenance to effectively configure and use resources. Taoping Smart Cloud Platform can be flexibly assigned and expanded for all users of the platform.Under the strategic cooperation agreement, Guangke Digital is granted a license from Taoping to connect its projection equipment and photonic screens to Taoping Smart Cloud Platform, and both parties will collaborate on market development. With integrated management and order optimization of Taoping Smart Cloud Platform, online ads can be displayed programmatically and in real-time. Both parties agreed a license fee and a monthly maintenance and support fee for each Cloud Window App installation.“Our cooperation with Guangke Digital will provide more display options for our customers and further expand Taoping New Media ecosystem beyond our own network,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We expect new revenue streams for the Company as Taoping Smart Cloud Platform is adopted by partners like Guangke Digital.”About Taoping Inc.Taoping Inc. (TAOP), is a leading provider of smart display terminals for targeted advertising and online retail. The Company provides integrated end-to-end digital advertising solutions enabling customers to distribute and manage advertisements on advertisement display terminals. Connecting cloud-based advertisement terminal owners, advertisers and consumers, it builds up a resource sharing "Smart IoT Terminal - Taoping Net/ App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cn http://www.taop.com/orDragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: taop@dgipl.com

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  • TAOP Reports Financial Results for the Six Months Ended June 30, 2020

    SHENZHEN, China, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced its unaudited financial results for the six months ended June 30, 2020. Revenue was $3.7 million for the first six months of 2020, a decrease of $3.4 million, compared to $7.1 million for the same period last year. The decrease in sales is largely due to the impact of the COVID-19 pandemic and an unfavorable macro environment in China for the first half year of 2020.The Company incurred a loss from operations of $7.5 million for the first six months of 2020, compared to a loss from operations of $2.2 million for the same period of last year. The increase in loss from operations in the first half of 2020 was mainly attributed to an increase of $5.8 million in allowance for credit losses.Net loss attributable to the Company was $7.7 million for the first six months of 2020, compared to a net loss attributable to the Company of $1.8 million for the same period of last year. The net loss was mainly attributed to the loss from operations. Loss per share was $1.12 for the first six months of 2020, compared to loss per share of $0.24 for the same period of 2019. On July 30, 2020, the Company implemented a one-for-six reverse stock split of the Company’s ordinary shares. The basic and diluted loss per share were retroactively adjusted for all periods presented.Net cash used in operating activities was $1.2 million for the first six months of 2020, compared to net cash used in operating activities of $0.8 million for the first six months of 2019. For the first six months of 2020, negative operating cash flow was mainly attributable to the increased net loss, increase in advances to suppliers and decrease in accounts payable.Working capital deficit was $10.0 million as of June 30, 2020, compared to working capital deficit of $7.0 million as of December 31, 2019.“In first half of 2020, the new-media industry of China experienced a slowdown attributed to the unfavorable macro environment and COVID-19. Recognizing various challenges during this period, we moved quickly to enhance liquidity by raising additional capital and extending bank loans, reduce expense base and cash outflows to further our commitment to building long-term shareholder value,” said Mr. Jianghuai Lin, CEO and Chairman of Taoping Inc.Mr. Lin added, “We continued to advance our technology and platform to provide cost-effective digital advertising solutions to customers. In July, we upgraded the Taoping Smart Cloud Platform and optimized the performance of ad publishing, data monitoring, publication management, transaction system, and Application Programming Interface (API) docking. With Taoping Smart Cloud Platform, the Company will accelerate the integration of offline scenes and online Internet interaction channels, open connection to third-party Demand Side Platform (DSP) and Ad Exchange (ADX) Internet traffic platforms, and realize online and offline traffic interoperability through Real-Time Bidding (RTB) technology. During the third quarter, we are experiencing demand recovery. Looking ahead, we will seek opportunities to expand the product line based on our accumulated technological knowledge in the IT industry while continue to manage our financial position conservatively. We believe we are well-positioned to continue to expand and enhance our existing network and to create value well into the future.”Operational Highlights ●Taoping Alliance has penetrated into the county-level market nationwide. As of August 19, 2020, Taoping Alliance has 211 domestic members operating in 211 cities across 26 provinces out of 34 provincial-level administrative units in China as well as three overseas members (Toronto, Asia, and Singapore).      ●In August 2020, the Company released two new smart screen products—the 43-inch screen and the 55-inch screen to provide better scenario-based marketing service to advertisers.      ●In July 2020, the Company has upgraded its Taoping Smart Cloud Platform and rolled out in operation. The upgraded Taoping Smart Cloud Platform has optimized the performance of ad publishing, data monitoring, publication management, transaction system, and API interface docking: On one hand, it further strengthens users’ operating experience in Internet advertising, online site selection, data monitoring, online transactions; On the other hand, Taoping Smart Cloud Platform provides a shared resource pool that can be flexibly assigned and expanded for all users.      ●Effective on July 30, 2020, the Company implemented a one (1)-for-six (6) reverse stock split of issued and outstanding ordinary shares, no par value. The reverse stock split was intended to increase the per share trading price of the Company’s ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Stock Market. The reverse stock split did not affect the number of total authorized ordinary shares of the Company.      ●On August 20, 2020, the Company receive a letter from the NASDAQ Listing Qualifications staff notifying the Company that it has regained compliance with NASDAQ’s minimum bid price requirements for continued listing on the Nasdaq Capital Market, as a result of the closing bid price of the Company’s ordinary shares having been at $1.00 per share or greater for the last 15 consecutive business days, from July 30 through August 19, 2020. Financial Results for the First Six Months of 2020 RevenueRevenue was $3.7 million for the first six months of 2020, compared to $7.1 million for the same period of last year, a decrease of $3.4 million, or 47.2%. The decrease was primarily due to the impact of the COVID-19 pandemic and the unfavorable macro environment in China for the first half year of 2020.Gross ProfitGross profit was $1.5 million for the first six months of 2020, a decrease of $ 1.6 million compared to $3.1 million for the first six months of 2019. Gross profit as a percentage of revenue was 39.3% for the first six months of 2020, decreased from 44.0% for the same period of last year.The decrease in the overall gross profits primarily resulted from the decrease of product revenue from cloud-based display terminals, which have a comparatively higher gross profit margin and the increase of lower margin revenue from high-end data storage servers. The Company expects that the gross margin for the remaining of 2020 would be consistent with the first half of the year.Administrative, R&D and Selling ExpensesAdministrative expenses increased by $4.0 million, or 125%, to $7.1 million for the first six months of 2020, from $3.1 million for the same period of 2019. Such increase was a result of an increase of $5.8 million in allowance for credit losses, offset by the decrease in amortization of intangible assets and payrolls. The Company considered the Covid-19 impact and expected future credit losses in the determination of credit loss reserves as of June 30, 2020. As a result, the Company made credit loss reserves on uncollected accounts receivable from prior years of $5.8 million in first half of 2020 due to the deterioration of certain customers’ financial conditions. As a percentage of revenue, administrative expenses increased to 189% for the first six months of 2020, from 44.3% for the same period of 2019.Research and development (“R&D”) expenses decreased by $0.1 million, or 5.4%, to $1.8 million for the first six months of 2020, from $1.9 million for the first six months of 2019. Such decrease was primarily due to decrease in payroll and benefits for R&D staff as a result of the decrease in headcount, and the decrease of depreciation of software purchased. As a percentage of revenue, R&D expenses increased to 48.2% for the first six months of 2020, from 26.9% for the same period of last year. R&D expenses for the remaining of 2020 are expected to be consistent with the first half of the year.Selling expenses decreased by $0.2 million, or 52.2%, to $0.1 million for the first six months of 2020, from $0.3 million for the first six months of 2019. This decrease was primarily due to the decreased headcount of sales and marketing staff. Selling expenses for the remaining of 2020 is expected to be consistent with the first half of the year.Net loss attributable to CompanyAs a result of the cumulative effect of the foregoing factors, for the first six months of 2020, net loss attributable to the Company was $7.7 million, compared to a net loss attributable to the Company of $1.8 million for the same period of last year.Cash and Financial PositionAs of June 30, 2020, the Company had cash and cash equivalents of $0.3 million and restricted cash of $0.2 million, compared to $1.5 million of cash and cash equivalents as of December 31, 2019. Working capital deficit was $10.0 million as of June 30, 2020, compared to working capital deficit of $7.0 million as of December 31, 2019.Net cash used in operating activities was $1.2 million for the first six months of 2020, compared to net cash used in operating activities of $0.8 million for the first six months of 2019.About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals for targeted advertising and online retail. The Company provides integrated end-to-end digital advertising solutions enabling customers to distribute and manage advertisements on advertisement display terminals. Connecting cloud-based advertisement terminal owners, advertisers and consumers, it builds up a resource sharing “Smart IoT Terminal - Taoping Net/ App - Taoping Go (e-Store)” media ecosystem to ultimately achieve the mission “our technology makes advertising and branding affordable and effective for everyone.” To learn more, please visit http://www.taop.com/.Safe Harbor Statement This press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact: Taoping Inc.  Chang Qiu  Email: chang_qiu@taoping.cn      or     Dragon Gate Investment Partners LLC  Tel: +1 (646)-801-2803  Email: taop@dgipl.com   TAOPING INC. CONSOLIDATED BALANCE SHEETS JUNE 30, 2020 AND DECEMBER 31, 2019  June 30, 2020  December 31, 2019     (Unaudited)      ASSETS                   CURRENT ASSETS         Cash and cash equivalents $286,795  $1,519,666  Restricted cash  198,069   -  Accounts receivable, net  3,928,244   4,926,081  Accounts receivable-related parties, net  6,683,510   8,733,263  Advances to suppliers  2,675,061   1,064,901  Inventories, net  236,533   302,938  Loan receivable - related party  347,893   397,041  Other current assets  257,386   2,087,946  TOTAL CURRENT ASSETS  14,613,491   19,031,836            Non-current accounts receivable, net  994,376   1,648,109  Non-current accounts receivable-related parties, net  1,844,839   3,793,949  Property, plant and equipment, net  10,929,829   11,835,516  Intangible assets, net  -   1,496  Other assets, non-current  3,903,021   4,304,640  TOTAL ASSETS $32,285,556  $40,615,546            LIABILITIES AND EQUITY                   CURRENT LIABILITIES         Short-term bank loans $4,830,062  $6,584,664  Accounts payable  11,548,461   12,586,696  Accounts payable-related parties  64,361   65,276  Advances from customers  367,610   421,700  Advances from customers-related parties  157,404   140,938  Amounts due to related parties  127,330   129,139  Accrued payroll and benefit  297,721   193,912  Other payables and accrued expenses  5,033,112   4,897,672  Income tax payable  -   70,653  Convertible note payable, net of debt discounts  2,247,185   916,511  TOTAL LIABILITIES  24,673,246   26,007,161            EQUITY         Ordinary shares, 2020 and 2019: par $0; authorized capital 100,000,000 shares; shares issued and outstanding, June 30, 2020: 7,332,434 shares; December 31, 2019: 7,000,053 shares*;  127,019,156   126,257,156  Additional paid-in capital  16,746,986   16,461,333  Statutory reserve  14,044,269   14,044,269  Accumulated deficit  (182,194,414)  (174,517,769) Accumulated other comprehensive income  22,907,323   23,022,845  Total (deficit) equity of the Company  (1,476,680)  5,267,834  Non-controlling interest  9,088,990   9,340,551  TOTAL EQUITY  7,612,310   14,608,385            TOTAL LIABILITIES AND EQUITY $32,285,556  $40,615,546  *On July 30, 2020, the Company implemented a one-for-six reverse stock split of the Company’s issued and outstanding ordinary shares. Except for shares authorized, all references to number of shares, and to per share information in the consolidated financial statements have been retroactively adjusted.TAOPING INC. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2020 AND 2019  Six Months Ended  Six Months Ended    June 30, 2020  June 30, 2019     (Unaudited)   (Unaudited)  Revenue – Products $2,056,805  $1,955,545  Revenue – Products-related parties  217,813   3,810,126  Revenue – Software  1,049,377   903,978  Revenue – Other  371,381   362,818  Revenue – Other-related parties  41,974   49,750  TOTAL REVENUE  3,737,350   7,082,217            Cost – Products  1,970,154   3,552,454  Cost – Software  296,190   308,701  Cost – Other  4,001   105,391  TOTAL COST  2,270,345   3,966,546            GROSS PROFIT  1,467,005   3,115,671            Administrative expenses  7,064,286   3,138,340  Research and development expenses  1,802,747   1,907,116  Selling expenses  143,816   301,028  LOSS FROM OPERATIONS  (7,543,844)  (2,230,813)           Subsidy income  223,391   339,604  Other loss, net  (302,336)  (55,430) Interest income  3,470   67,871  Interest expense and debt discounts expense  (391,231)  (214,002) Loss before income taxes  (8,010,550)  (2,092,770)           Income tax benefit  69,858   270,747            NET LOSS  (7,940,692)  (1,822,023) Less: Net loss attributable to the non- controlling interest  264,047   6,749  NET LOSS ATTRIBUTABLE TO THE COMPANY $(7,676,645) $(1,815,274)           Loss per share - Basic and Diluted*         Basic $(1.12) $(0.24) Diluted $(1.12) $(0.24)           NET LOSS PER SHARE ATTRIBUTABLE TO THE COMPANY*         Basic $(1.08) $(0.24) Diluted $(1.08) $(0.24) *On July 30, 2020, the Company implemented a one-for-six reverse stock split of the Company’s issued and outstanding ordinary shares. The computation of basic and diluted EPS was retroactively adjusted for all periods presented.TAOPING INC. CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2020 AND 2019   Six Months Ended  Six Months Ended    June 30, 2020  June 30, 2019    (Unaudited)  (Unaudited)  OPERATING ACTIVITIES         Net loss $(7,940,692) $(1,822,023) Adjustments to reconcile net loss to net cash used in operating activities:         Provision for credit losses on accounts receivable and other current assets  5,875,044   1,667,306  (Reversal of) Provision for obsolete inventories  (15,255)  284  Depreciation  1,603,722   1,428,424  Amortization of intangible assets  1,479   53,076  Loss (gain) on sale of property and equipment  601   (136) Loss on disposal of inventories  49,827   63,849  Stock-based payments for consulting services  204,443   33,884  Amortization of convertible note discount  163,833   -  Stock-based compensation  92,308   289,912  Changes in operating assets and liabilities:         Accounts receivable  (1,225,284)  (116,565) Accounts receivable from related party and its affiliates  803,982   (2,473,234) Inventories  27,762   150,513  Other non-current assets  342,269   -  Other receivables and prepaid expenses  1,601,902   (315,436) Advances to suppliers  (1,685,458)  (917,088) Other payables and accrued expenses  305,903   292,672  Advances from customers  (48,317)  32,278  Advances from customers from related party and its affiliates  18,491   61,122  Amounts due to related parties  -   (1,018,982) Accounts payable  (1,283,642)  2,057,767  Income tax payable  (69,858)  (233,584) Net cash used in operating activities  (1,176,940)  (765,961)           INVESTING ACTIVITIES         Proceeds from sale of property and equipment  -   136  Purchases of property and equipment  (150,470)  (647,317) Loan receivable-related party  43,708   -  Net cash used in investing activities  (106,762)  (647,181)           FINANCING ACTIVITIES         Borrowings under short-term loans  4,029,193   2,505,027  Repayment of short-term loans  (5,696,201)  (1,357,135) Issuance of convertible notes, net of issuance cost and debt discount  1,344,000   -  Issuance of common stock, net of issuance cost  576,000   -  Net cash provided by financing activities  252,992   1,147,892            Effect of exchange rate changes on cash and cash equivalents  (4,092)  (3,988)           NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH  (1,034,802)  (269,238) CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING  1,519,666   1,653,260  CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING $484,864  $1,384,022            Supplemental disclosure of cash flow information:         Cash paid during the year                   Income taxes $-  $-  Interest $346,042  $214,002    Six Months Ended June 30, 2020  Six Months Ended June 30, 2019  Reconciliation to amounts on consolidated balance sheets         Cash and cash equivalents $286,795  $1,279,189  Restricted cash  198,069   104,833  Total cash, cash equivalents, and restricted cash $484,864  $1,384,022

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  • TAOP Raises $2 Million from Recent Financing

    SHENZHEN, China, Sept. 11, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, today announced that it has entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “Investor”) on September 10, 2020.In this financing, the Company is issuing to the investor an aggregate of 222,222 ordinary shares, no par value (the “Ordinary Shares”), a convertible note with principal amount of $1,480,000 and a warrant to purchase 53,333 Ordinary Shares at $9.0 per share. The gross proceeds to the Company from the financing are $2.0 million before deducting estimated offering expenses.For more details of the financing, please see the Company’s Report on Form 6-K to be filed on or about September 11, 2020.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.“We appreciate the Investor’s confidence in our management team and growth strategy, and will continue to serve customers well and create long-term value for shareholders," said Mr. Jianghuai Lin, Chairman and CEO of TAOP.About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cn orDragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: TAOP@dgipl.com

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  • Taoping Isn’t the Chinese Stock to Embrace

    In an expansive universe of U.S.-listed Chinese equities and cloud computing names, Taoping (NASDAQ:TAOP) isn't the one to consider. On either account. If you haven't heard of Tapoing stock, that's alright. In this case, ignorance may be bliss.Source: Shutterstock The company has two primary businesses segments: traditional information technology and cloud computing, where it operates in the ultra-hot software-as-a-service market.Point number one in the avoid Taoping case is the fact that the stock is down 17.26% year-to-date while the BVP Nasdaq Emerging Cloud Index is higher by almost 64%. Even if one wants to compare the Chinese name to a more traditional cloud benchmarks, the ISE Cloud Computing Index is up more than 33% this year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPoint number two is name a China index, such as the MSCI China Index or the MSCI China Information Technology 10/50 Index, and there's a 100% chance it's trouncing Taoping stock this year. * 9 Gold Stocks to Buy That Still Have Room to RunThere's a valuable lesson here, that being that if an investor wants to embrace a leading sector or industry, it's best to do so with that group's leaders instead of bottom fishing.In the case of cloud computing equities, as the above data indicate, Taoping qualifies as a bottom dweller and reminds investors that cheap stocks (it closed at $2.78 on Aug. 25) are cheap for a reason. Don't Tussle With Taoping StockI'm not saying Taoping is another Luckin Coffee (OTCMKTS:LKNCY). There doesn't appear to be fraud at play with the tech company, but this is the type of name that lures unwitting investors in with a low price tag only to further decline.Taoping recently executed a reverse-stock split to the tune of 1-for-6 to stay in compliance with the Nasdaq's $1 listing requirement. That objective has been achieved, but the stock is steadily giving back the price gains artificially accrued via the reverse split. On July 30, the day of the reverse split, Taoping stock briefly traded around $9, meaning it's lost more than two-thirds of its value in less than a month.As for business legitimacy, Taoping does appear to have that. It recently announced 15 new members for its smart screen alliance and it's news feed is chock full of similar announcements.Still, investors ought to ponder why this stock struggles so much and what's going wrong in its cloud business. After all, China is the second-largest cloud computing market in the world after the U.S. Cloud infrastructure spending there surged 63.7% last year and there's plenty of runway for growth because as a percentage of overall tech spending in China, is still relatively low.Investors should take pause with Taoping because the company isn't capitalizing on relevant trends in its home market. Bottom Line: Toss TaopingAs if its market capitalization of barely above $20 million and inability to capture a credible slice of an obvious growing market aren't enough to square investors off, perhaps the aforementioned reverse split ought to be.While there are some examples of companies engaging in reverse going to deliver better outcomes for shareholders, history proves these examples are few and far between. A study by the University of Washington School of Business indicates that while reverse splits serve the aim of increasing share prices and do bolster liquidity, many investors sell on those announcements because they believe the new higher share price is starting point for more declines.Taoping is proving that thesis accurate and is reminding investors about the risks inherent with Chinese micro-caps. Until this name can organically increase its share price, a dubious prospect today, investors can and should find other Chinese and cloud stocks to consider.Todd Shriber has been an InvestorPlace contributor since 2014. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Taoping Isn't the Chinese Stock to Embrace appeared first on InvestorPlace.

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  • TAOP Regains Compliance with Nasdaq Minimum Bid Price Listing Requirement

    SHENZHEN, China, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, today announced that it has received a letter from the NASDAQ Listing Qualifications staff notifying the Company that it has regained compliance with NASDAQ's minimum bid price requirements for continued listing on the Nasdaq Capital Market. The letter noted that as a result of the closing bid price of the Company's ordinary shares having been at $1.00 per share or greater for the last 15 consecutive business days, from July 30 through August 19, 2020, the Company has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed. About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cnorDragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: TAOP@dgipl.com

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  • Taoping Alliance Welcomes 15 New Members

    SHENZHEN, China, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, today announced that 15 companies have joined the Taoping Alliance to operate Taoping new media in 15 cities as its city partners. As of now, Taoping Alliance has 211 domestic members operating in 211 cities across 26 provinces out of 34 provincial-level administrative units in China as well as three overseas members (Toronto, Asia, and Singapore). The 15 new members are Yiliang Taoping and Shilin Taoping in Yunnan Province, Renhuai Taoping, Tongren Taoping, Longli Taoping, Sansui Taoping, Jianhe Taoping, Taijiang Taoping, Huangping Taoping, Zhenyuan Taoping, Majiang Taoping and Danzhai Taoping in Guizhou Province, Yueyang Taoping in Hunan Province, Yingshan Taoping in Hubei Province, Wanzhou Taoping in Chongqing Municipality. The 15 companies are purchasing smart display screens from TAOP and are responsible for new media and online retail operations at Yiliang County, Shilin Yi Autonomous County, Renhuai City, Tongren City, Longli County, Sansui County, Jianhe County, Taijiang County, Huangping County, Zhenyuan County, Majiang County, Danzhai County, Yueyang City, Yingshan County, Wanzhou District respectively.The eco-system of Taoping Network of smart display screens, Taoping Alliance of city partners, owners of smart display screens, and advertisement agents are providing efficient and targeted marketing capabilities for brands. Taoping Smart Cloud Platform is enabling brands to publish advertisements at any desired location at any desired time and duration, and monitor advertisement effectiveness. As a supplement to Internet advertising, Taoping provides API connections with third-party platforms, to allow online advertisers to access Taoping Network of smart display screens to improve their coverage.“We are glad to welcome the 15 new city partners as members of Taoping Alliance. It’s the latest achievement of Taoping’s strategic plan to rapidly expand our operating network and presence in the third, fourth, and fifth-tier cities where consumption growth is robust due to consumption upgrade and a growing middle class,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “By providing software and hardware support for alliance members, we help them to cover residential areas, office buildings, and commercial districts with Taoping smart screen to fit different advertising needs. We will continue to expand Taoping ecosystem and expect more city partners to join us.”About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cnorDragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: TAOP@dgipl.com

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  • TAOP Released 43-inch and 55-inch Smart Screens for More Life Scenes

    SHENZHEN, China, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, today announced the release of two new smart screen products—the 43-inch screen and the 55-inch screen. Taoping’s 43-inch and 55-inch smart screens have resolutions of 1080*1920 pixels and 3840*2160 pixels, respectively. The body of the smart screen is mainly white, made of glass and metal. Through the Taoping Smart Cloud Platform, users can manage smart screens remotely and effectively.For a long time, Taoping’s advertising strategies are actively designed to fit specific scenes, such as those in residential communities or public facilities. To achieve this goal, the Company launched the 43-inch and 55-inch screens based on its current 18.5-inch, 21.5-inch, and 32-inch screens. The two newly launched screens can be applied to a wider range of life scenes. With the slim and exquisite design appearance and delicate display effects, Taoping’s new screens greatly enhance the visual impact of advertising and deepen the audience’s impression of advertising.“The release of the two smart screens will allow us to provide better scenario-based marketing service to advertisers,” said Mr. Jianghuai Lin, CEO and Chairman of TAOP. “Through big data analysis, the Taoping platform will deeply integrate advertising with more life scenes, deeply understands and analyzes user needs, and accurately target consumer groups with different types of advertisements.” About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cnorDragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: TAOP@dgipl.com

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  • TAOP Honored with the “Outstanding Enterprise Award” at the National Outdoor Advertising Communication Conference

    SHENZHEN, China, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, today announced that it wins the "Outstanding Enterprise Award" at the 17th annual National Outdoor Advertising Communication Conference, held in Shandong Province, China, for its exceptional contribution to digital outdoor advertising. After 16 years of development and progression, the National Outdoor Advertising Communication Conference, which defines the outdoor advertising trend and serves as the industry’s accelerator, is the most prestigious outdoor advertising conference and one of the top promoting platforms in China. Because of the conference’s popularity and considerable influence on the industry, its awards have become the reflection and symbolization of outstanding creativity and growth potentials of enterprises.Unlike traditional advertising that carries a higher cost and lacks relevance to target consumers, Taoping’s advertising strategies are actively designed to fit for specific scenes, such as those in residential communities or public facilities. The “scene marketing” not only has fundamentally changed the boring and monotonous way of advertising but also, through data mining, provides clients with the option of programmatic buying and helps target a specific group of customers. Meanwhile, “scene marketing” utilizes all kinds of media in the scene for integrated communication, promoting the uniqueness of each brand, and enhancing the visual impact of the scenes in an advertisement. On one hand, improving the visual impact of the scenes enhances the impression of the advertisement on the audience. On the other hand, by connecting deeply with consumers’ psychology, “scene marketing” realizes the goal of marketing targeted customers precisely.“With the expansion of 5G networks and new infrastructures globally, the information consumers interacting with is changing quickly,” said Mr. Jianghuai Lin, CEO and Chairman of TAOP. “As technology empowering people’s life, TAOP is aiming to connect advertisers and consumers tightly with each other, facilitate the communication between them and bring advertising to a new era.” About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cnorDragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: TAOP@dgipl.com

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  • TAOP Upgrades Taoping Smart Cloud Platform to Expand its Business

    SHENZHEN, China, July 30, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it has upgraded its Taoping Smart Cloud Platform and put it on the market. The upgraded Taoping Smart Cloud Platform has optimized the performance of ad publishing, data monitoring, publication management, transaction system, and API interface docking. On the one hand, it further strengthens users’ operating experience in Internet advertising, online site selection, data monitoring, online transactions, etc. On the other hand, Taoping Smart Cloud Platform provides a shared resource pool that can be flexibly assigned and expanded for all users. The resource pool integrates media resources and advertisers in an all-round and multi-channel manner, and uses the centralized management and control of the platform and intelligent operation and maintenance to effectively configure and use resources to achieve a win-win situation for all parties.The upgrade of Taoping's intelligent cloud platform will promote the development of the company's "partner" model and the comprehensive expansion of its business. Taoping uses life scenes as an entry point to quickly deploy a nationwide terminal network through the "partner" model. At present, there are smart terminal locations in nearly 200 cities in 25 core provinces (cities) across the country. The smart terminals are located in office buildings, residential areas, commercial districts, outdoor and other life consumption scenes, and massive offline traffic portals have been formed. With Taoping Smart Cloud Platform, the company will accelerate the integration of offline scenes and online Internet interaction channels, open connection to third-party DSP, ADX Internet traffic platforms, and realize online and offline traffic interoperability through Real-Time Bidding (“RTB”) technology. At present, Taoping has cooperated with Baidu, JD.com, Ali UMeng, ZMT Smart Screen and several other heavy-weight DSP and ADX platforms.“The platform service fees for the operation and maintenance services and transactions concluded on Taoping Smart Cloud Platform are expected to bring considerable and sustainable cash flow to the Company. With the development of the platform, the platform's continuous data accumulation and data mining will also become the Company's strategic intangible assets, and empower the business development of Taoping,” said Mr. Jianghuai Lin, CEO and Chairman of TAOP.About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor StatementThis press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact:Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cnorDragon Gate Investment Partners LLC Tel: +1 (646)-801-2803 Email: taop@dgipl.com

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  • TAOP Announces 1-for -6 Reverse Stock Split

    SHENZHEN, China, July 29, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that the board of directors of the Company has approved a one (1)-for-six (6) reverse stock split of issued and outstanding ordinary shares, no par value, of the Company. The reverse stock split is expected to be effective at the market opening on July 30, 2020, at which time the Company's ordinary shares will begin trading on the NASDAQ Stock Market on a split-adjusted basis. The Company’s ordinary shares will continue to trade under the symbol “TAOP” but with a new CUSIP number. Once the reverse stock split becomes effective, existing shareholders holding certificates of ordinary shares are expected to receive instructions from the Company's transfer agent, Transhare Corporation, regarding procedures for exchanging share certificates. All outstanding options, warrants and other rights to purchase the Company's ordinary shares will be adjusted proportionately as a result of the reverse stock split.The reverse stock split is intended to increase the per share trading price of the Company's ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Stock Market. Following the reverse stock split the Company will have approximately 7.3 million ordinary shares issued and outstanding, exclusive of shares issuable under outstanding options and warrants. The reverse stock split will not affect the number of total authorized ordinary shares of the Company.About Taoping Inc.Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.Safe Harbor Statement This press release may contain certain “forward-looking statements” relating to the business of Taoping Inc. and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.For further information, please contact: Taoping Inc.  Chang Qiu  Email: chang_qiu@taoping.cn     or     Dragon Gate Investment Partners LLC  Tel: +1 (646)-801-2803  Email: taop@dgipl.com

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  • TAOP Reports Fiscal Year 2019 Financial Results

    SHENZHEN, China, June 12, 2020 -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted.

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  • Taoping Joined in Community Action Day to Support Work Resumption and Recovery from COVID-19

    Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, announced that the Company has joined the Work Resumption and Recovery Action Day event hosted by Futian District Business Association on April 17, 2020 at Huaqiangbei Commercial Pedestrian Street to help enterprises resume work and restore production in healthy and safe ways. Futian District is the central business district of Shenzhen. Futian local government is granting approximately RMB 1.6 billion with various policy measures to support local businesses’ dual efforts of both prevention of and recovery from COVID-19.

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  • Taoping Named a ‘Shenzhen Top Brand’

    Taoping Inc. (NASDAQ: TAOP, the “Company”), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retails, today announced that it was named a "Shenzhen Top Brand" by Shenzhen Top Brand Evaluation Committee after a rigorous and fiercely competitive selection process. Taoping is one of 66 companies to receive such a designation in 2020. The Shenzhen Top Brand selection, now in its 17th year, encourages enterprises in Shenzhen city to build high-profile brands with leading market positions in industries, quality reputation and impactful influence while generating good economic and social benefits.

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