VINCO VENTURES INC - BBIG STOCK NEWS

Vinco Ventures, a digital media and content technologies company, has announced a 1-for-20 reverse stock split of its common stock. The split will begin trading on a split-adjusted basis on May 11, 2023. The reverse split is expected to increase the market price per share of the Company's common stock and bring it into compliance with The Nasdaq Capital Market's minimum bid price requirement.

Vinco Ventures, Inc. (Nasdaq: BBIG) emphasizes its upcoming Annual Meeting on April 27, where it seeks shareholder support for 12 key proposals, including a significant acquisition. The announcement of new leadership, with James Robertson as CEO and Chris Polimeni as CFO/COO, aims to execute a five-pillar growth strategy following the planned acquisition of the famous National Enquirer and related digital assets. This strategy will enhance profitability and shareholder value through content transformation, revenue growth from subscriptions, and exploring licensing opportunities. Additionally, a reverse stock split is proposed to meet Nasdaq listing requirements.

Vinco Ventures (Nasdaq: BBIG) announced on April 24, 2023, that it received a staff determination from Nasdaq on April 18, 2023, indicating the company failed to comply with Nasdaq Listing Rule 5810(b). This is due to the company not filing its Form 10-K for the fiscal year ended December 31, 2022, as required. The company must submit updated information to the Hearings Panel by April 25, 2023, regarding its expected filing plans for the overdue document. Vinco Ventures is confident it will file the 10-K by June 2, 2023.

Vinco operates in digital media and content technologies, with subsidiaries such as ZVV Media Partners and AdRizer, LLC.

Vinco Ventures (Nasdaq: BBIG) announced a new executive management team on April 20, 2023, with James Robertson as Chief Executive Officer and President and Chris Polimeni as Chief Financial Officer and Chief Operating Officer. The board's decision aims to pivot towards growth initiatives, moving away from legacy challenges. Robertson, formerly Editor-In-Chief of Us Weekly, brings extensive media experience, while Polimeni offers over 30 years of financial oversight. This leadership change is part of a broader strategy to diversify revenue and enhance digital content offerings. The new team is set to drive Vinco's next phase of growth immediately.

Vinco Ventures (Nasdaq: BBIG) issued a comprehensive update regarding its strategy and execution plan in a letter from Executive Chairman Rod Vanderbilt. The company emphasizes its commitment to enhancing shareholder value as it prepares for the April 27, 2023 Annual Meeting. Vinco has made progress in resolving regulatory compliance issues, including the recent filing of its 10-Q for Q3 2022 and securing a continued listing on the Nasdaq. The company is actively pursuing an M&A strategy aimed at acquiring EBITDA-positive companies to enhance its business portfolio. Notably, Vinco announced its acquisition of assets from a360media, including the National Enquirer, which is expected to significantly contribute to future revenues. Shareholders are urged to vote for all proposals at the upcoming meeting to support the company's growth initiatives.

Vinco Ventures (BBIG) announced the successful completion of a 90-day beta test for its user-generated content (UGC) platform, yielding over 30% growth in average daily revenue during the test. This initiative attracted 23 million new active users and generated more than 1.5 billion advertising impressions. Executive Chairman Rod Vanderbilt stated that the results surpassed expectations and demonstrated the effectiveness of engaging content. Following this success, Vinco plans to expand UGC content verticals, including news, celebrity news, travel, fashion, beauty, and true crime, tapping into the growing creator economy.

Vinco Ventures (Nasdaq: BBIG) announced that the U.S. House of Representatives Foreign Affairs Committee has voted on H.R. 1153, which enables the government to impose a nationwide ban on TikTok, citing security concerns linked to China. This legislation could lead to significant market shifts, allowing Vinco’s Lomotif platform to capture TikTok's user base. Lomotif is a mobile app for creating and sharing short videos, requiring no cost for users and designed for ease of use. Vinco holds an 80% interest in Lomotif through its subsidiary, ZVV Media Partners.

Vinco Ventures (Nasdaq: BBIG) announced that it received a staff determination on February 21, 2023, regarding non-compliance with Nasdaq Listing Rules due to not holding an annual meeting of shareholders in the required timeframe. The company had until February 20, 2023, to submit a plan to rectify this issue, which they did promptly. However, this non-compliance presents a separate basis for potential delisting. The Nasdaq Hearings Panel will review the situation to decide on the continued listing of Vinco Ventures on The Nasdaq Capital Market.

Vinco Ventures (Nasdaq: BBIG) announced the upcoming filing of its Quarterly Report on Form 10-Q for the quarter ending June 30, 2022, following efforts by its finance team and auditors. The report is expected to be submitted to the SEC soon.

The company will also file its Quarterly Report for the quarter ending September 30, 2022, by March 8, 2023. Vinco Ventures focuses on digital media and content technologies, holding a significant stake in Lomotif through its subsidiary, ZVV Media Partners, and a full ownership of AdRizer.