HiTek Global Inc. (HKIT) Form 6-K — May 26, 2026
HiTek Global Inc. (HKIT) announced a 1-for-3 reverse stock split of its Class A ordinary shares, effective May 29, 2026. This follows a massive 1-for-50 reverse split effectuated just weeks earlier in April 2026, indicating persistent pressure on the company's share price. The rapid succession of extreme reverse splits signals significant financial distress and a desperate attempt to meet Nasdaq listing requirements.
Key figures
- Par value pre
- 0.005
- Effective date
- 2026-05-29
- Par value post
- 0.015
- Reverse split ratio
- 1:3
- Class a shares pre split
- 2324420
- Class a shares post split
- 774807
- Prior reverse split ratio
- 1:50
- Class b shares outstanding
- 8192000
AI analysis
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