Nasdaq staff determination.
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.
- Timely submission of compliance plan by February 20, 2023.
- Received notification of non-compliance with Nasdaq Listing Rules due to missed annual shareholder meeting.
- Delisting potential remains as a serious risk.
Syracuse, NY, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Vinco Ventures, Inc. (Nasdaq: BBIG) (“Vinco Ventures,” “Vinco,” or the “Company”), a digital media and content technologies company, announced receipt of a staff determination on February 21, 2023. On January 4, 2023, Staff notified the Company that since it had not held an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year end, it no longer complied with our Listing Rules (the “Rules”) for continued listing. In that regard, the Company was required to submit its plan by February 20, 2023, which was timely submitted. However, pursuant to Listing Rule 5810(c)(2)(A), this deficiency serves as additional and separate basis for delisting. The letter is formal notification that the Nasdaq Hearings Panel (the “Panel”) will consider this matter in rendering a determination regarding the Company’s continued listing on The Nasdaq Capital Market.
About Vinco Ventures
Vinco Ventures (Nasdaq: BBIG) is focused on the development of digital media and content technologies. Vinco Ventures’ consolidated subsidiary, ZVV Media Partners, LLC, a joint venture of Vinco Ventures and ZASH Global Media and Entertainment Corporation, has an
For more information, please visit investors@vincoventures.com.
Forward-Looking Statements and Disclaimers
This press release contains “forward-looking statements” as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which are based upon beliefs of, and information currently available to, Vinco Ventures’ management as well as estimates and assumptions made by Vinco Ventures’ management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words “estimate,” “expect,” “intend,” “believe,” “plan,” “anticipate,” “projected,” and other words or the negative of these terms and similar expressions as they relate to the applicable company or its management identify forward-looking statements. Such statements reflect the current view of Vinco Ventures with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Vinco Ventures and its subsidiaries and consolidated variable interest entities including Lomotif, their industry, financial condition, operations and results of operations. Such factors include, but are not limited to, the expected risks and benefits from the proposed increase in Vinco Ventures’ authorized shares as described in our proxy statement, Vinco Ventures’ investments in ZVV Media Partners, LLC, Lomotif Private Limited, PZAJ Holdings, LLC and related growth initiatives and strategies such as the blended media, cross-platform distribution strategy, the expected benefits of Lomotif’s participation in and sponsorship of live entertainment events, the expected benefits from acquisition of AdRizer and planned integration of the AdRizer technology with Lomotif and Honey Badger and synergies between AdRizer, Lomotif and Honey Badger, the regulatory risks with the NFT and blockchain business lines and such other risks and uncertainties described more fully in documents filed by Vinco Ventures and Cryptyde with or furnished to the Securities and Exchange Commission, including the risk factors discussed in Vinco Ventures’ Annual Report on Form 10-K for the period ended December 31, 2021 filed on April 15, 2022 which is available at www.sec.gov. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.
For further information, please contact:
Investor Contact
investors@vincoventures.com
FAQ
What recent notification did Vinco Ventures (BBIG) receive?
What caused Vinco Ventures to potentially face delisting?
What is the deadline for Vinco Ventures to submit a compliance plan?
Who will review Vinco Ventures’ delisting status?
