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75487851 : please email : chairman @sec.gov, help@sec.gov
Subject: Request for Investigation into Repeated Reverse Stock Splits and Investor Protection Concerns Regarding YYAI (AiRWA)
To: U.S. Securities and Exchange Commission (SEC) and Nasdaq MarketWatch
Dear Sir/Madam,
I am writing as a retail investor to request that the Securities and Exchange Commission and Nasdaq investigate the repeated reverse stock splits conducted by YYAI (AiRWA) and determine whether these actions have unfairly harmed retail investors and whether additional investor protections are needed.
According to publicly available information, YYAI has conducted multiple reverse stock splits over a relatively short period, including:
* September 25, 2023 – 1-for-40 reverse stock split
* June 27, 2024 – 1-for-20 reverse stock split
* October 27, 2025 – 1-for-50 reverse stock split
* May 18, 2026 – 1-for-40 reverse stock split
The cumulative effect of these reverse splits has been extraordinary. Following each reverse split, the share price subsequently declined substantially, resulting in significant losses for many retail investors. The company’s historical price charts now show prices reaching into the millions of dollars per share after adjusting for multiple reverse splits, illustrating the extreme dilution of long-term shareholder value.
Many retail investors are concerned that repeated reverse splits may be used primarily to maintain Nasdaq listing compliance while existing shareholders continue to suffer severe value destruction. Although reverse stock splits are permitted under current regulations, repeated use of this mechanism without corresponding improvements in the company’s underlying business raises serious investor protection concerns.
I respectfully request that the SEC and Nasdaq consider the following:
1. Investigate whether all disclosures made before and after these reverse stock splits were complete, accurate, and transparent.
2. Review whether the company’s management and board fulfilled their fiduciary duties to shareholders.
3. Examine whether repeated reverse stock splits followed by significant declines may indicate practices that warrant further regulatory review.
4. Evaluate whether existing Nasdaq listing standards adequately protect retail investors from companies that repeatedly rely on reverse stock splits to remain listed.
5. Consider implementing rules that limit the number or frequency of reverse stock splits within a specified period, or require enhanced shareholder approval and disclosure after multiple reverse splits.
6. Consider whether additional investor warnings should accompany companies that have conducted repeated reverse stock splits.
Retail investors rely on the integrity of U.S. capital markets. While reverse stock splits can be legitimate corporate actions, repeated reverse splits that are followed by continued destruction of shareholder value undermine investor confidence and may expose retail investors to unnecessary risk.
I respectfully ask the SEC and Nasdaq to investigate this matter thoroughly and, if any violations of securities laws, disclosure obligations, or listing standards are identified, to take appropriate enforcement action. I also encourage regulators to review whether stronger safeguards should be adopted to better protect public investors from repeated dilution and value destruction.
Thank you for your attention to this important investor protection issue.
Sincerely,
[Your Name]
Retail Investor