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$Cyngn (CYN.US)$ i found out the following info: Cyngn Inc....
$Cyngn (CYN.US)$ i found out the following info:
Cyngn Inc. has scheduled a Special Meeting of Stockholders for January 30, 2025, to vote on four key proposals. The company seeks approval to increase authorized common stock from 200 million to 400 million shares and grant the board discretion to implement a reverse stock split at a ratio between 1-for-5 and 1-for-150 within one year.
Additionally, shareholders will vote on authorizing the issuance of warrants and underlying shares from a December 23, 2024 offering, in compliance with Nasdaq rules. The proposal includes lowering the warrant floor price from $0.805 to $0.322 and approving certain adjustment provisions
The board recommends approval of all proposals, including potential meeting adjournments to solicit additional proxies if needed. These measures aim to provide Cyngn with greater financial flexibility and ensure continued Nasdaq listing compliance.
Additionally, shareholders will vote on authorizing the issuance of warrants and underlying shares from a December 23, 2024 offering, in compliance with Nasdaq rules. The proposal includes lowering the warrant floor price from $0.805 to $0.322 and approving certain adjustment provisions
The board recommends approval of all proposals, including potential meeting adjournments to solicit additional proxies if needed. These measures aim to provide Cyngn with greater financial flexibility and ensure continued Nasdaq listing compliance.
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browny_440 : look how small the float is just hold strong retail thier is bots in the chat that want you to sell your shares just hold
browny_440 : they can do a 1for5 split if we vote yes but we can and do hold more than enough voting shares to hold the split but we don't mind if I'd does unless it's crazy 200 but won't be
71785838 OP : I started following this company few days ago, I have not bought any shares yet but I am interested in buying, I am watching closely but I feel the company and current shareholders will face some problems ahead
browny_440 : nows the chance to take the few months of gains
小强不死 : @Jaguar8 I want to ask if this stock split is actually good news or bad news? The shareholders' meeting will only be held on January 30. Will stocks not run as fast?
71785838 OP browny_440 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
71785838 OP browny_440 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
71785838 OP browny_440 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
71785838 OP 小强不死 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")