Ipsidy is traded on the Nasdaq Market under the symbol “AUID”. The Company is currently doing business under the name authID.ai.
authID’s (Ipsidy’s) Common Stock CUSIP is 46264C206.
At Ipsidy’s Annual Meeting held in March 2021, the stockholders authorized the Board to effect a reverse stock split. In June 2021 the Board resolved to effect the stock split in a ratio of 1-for-30. This means that every 30 shares you held prior to the reverse stock split were automatically converted into 1 new share of common stock. (Any fractions resulting were rounded up to the next whole share). For example, if you held 300,000 shares before the split, you now hold 10,000 shares. If you hold shares in a brokerage account, you should see that change on your next brokerage statement. If you hold shares in your own name, you will receive information from Computershare regarding your holdings.
With the stock split, the price per share of each of your Ipsidy shares will also increase in an approximately similar ratio. The price of stock can go up or down and the Company has no control over the price, so following the split you may see your shares priced at an amount, which is more or less than 30 times the previous per share price.
There have been no changes by the Company to the rights attaching to your shares, nor to the value of your shares. Any change in overall value results from market conditions beyond our control.
The total number of issued and outstanding shares of common stock held by all stockholders, has been reduced in the same ratio.
Warrants and Options for common stock and Notes, which are convertible into Common Stock are impacted by the reverse stock split, in a similar manner to the Common Stock, which may be issued on exercise or conversion.
Therefore, the number of shares that you are entitled to receive on exercise of a warrant will be 1/30 of the amount stated on the warrant, and the Exercise Price will be 30 times the stated price. Note however that your overall position has not changed. If for example, you have a warrant for 90,000 shares at a price of $0.15 per share for a total cost $13,500. Following the reverse stock split, you will have a warrant for 3,000 shares at a price of $4.50 per share = total cost $13,500.
The Company will be writing to each holder of Warrants and Options to indicate the effect of the reverse stock split on each of your holdings.
You may purchase authID.ai (Ipsidy) stock under the ticker symbol “AUID” in accordance with the rules and regulations of the Nasdaq Market. You should consult a professional broker if you are interested in purchasing stock.
All stockholders with paper stock certificates should receive a letter describing how they can return and deposit their certificates in order to hold them in electronic form. If you have not received your letter, please contact our transfer agent, Computershare.
Our transfer agent, Computershare, will help you with lost or stolen certificates, address changes, taxpayer ID certification, shareholder account information and various other stock-related matters.
462 South 4th Street
Louisville, KY, 40202
Investor Center: www.computershare.com/investor
If you have converted your paper certificate into electronic book entry form, then the statement that you received from Computershare includes instructions for how to move your shares. You should send the entire statement to your broker who will be able to help you move your shares into your account. If you still have a paper certificate, then it is advisable to first convert your stock into electronic or “book entry” form .
Ipsidy Inc. was incorporated in Delaware on September 21, 2011. On June 14, 2021, the company began doing business as authID.ai.
authID.ai’s fiscal year is based on the calendar year. The last day of the fiscal year is Dec 31.
authID.ai’s independent auditing firm is Cherry Bekaert, LLP.