Is verb about to do a stock Split

Verb Technology is planning a reverse stock split. Here's the analysis to support this conclusion:

1. Recent Authorization: Verb Technology has announced a reverse stock split, which was authorized by the company's stockholders during the annual meeting held on September 26, 2024. This decision was also approved by the Board of Directors on the same day.
2. Split Ratio: The reverse stock split will be conducted at a ratio of 1-for-200, which is a significant consolidation of shares. This action is typically undertaken by companies to increase the share price to meet listing requirements or to make the stock more attractive to investors.
3. Legal Formalities: A Certificate of Amendment to the Articles of Incorporation was filed with the Secretary of State of Nevada to formalize the reverse split. This legal process is a standard procedure when companies undertake such corporate actions.
4. Shareholder Approval: The reverse stock split was ratified by a majority of votes cast during the annual meeting, with 34,387,270 votes in favor, 24,966,253 against, and 2,355,698 abstaining. This indicates that the majority of shareholders approved the split.
5. Market Context: Verb Technology has been facing potential delisting from the Nasdaq Stock Market due to its share price falling below the minimum bid price requirement. The reverse stock split is a strategic move to address this issue and elevate the company's share price above the Nasdaq's minimum requirement.

In conclusion, Verb Technology's announcement of a reverse stock split at a ratio of 1-for-200, along with the necessary legal formalities and shareholder approval, confirms that the company is indeed planning a reverse stock split. This action is a response to the company's challenges, including the risk of delisting from the Nasdaq Stock Market, and aims to strengthen the company's financial position and meet Nasdaq's listing standards.