Florida Sunrise, June 9, 2023 (Globe Newswire) — via new media wire — NextPlay Technologies, Inc. (NASDAQ: NXTP) (the “Company”), A digital native ecosystem for finance, digital advertisers and video gamers, the company has received a notice from the Listing Eligibility Division of The Nasdaq Stock Market LLC (“Nasdaq”) that the company is not in compliance with Nasdaq Listing Rule 5250. announced that it had received (c)(1) for failure to timely file the Annual Report on Form 10-K for the fiscal year ended February 28, 2023;
The Nasdaq Notice will not have an immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. The Nasdaq Notice will instruct the Company to provide the Nasdaq with a plan to restore compliance with Nasdaq Listing Rule 5250(c)(1) within 60 calendar days from the date of notice, or by August 7, 2023. stipulated to be submitted. If this plan is accepted, Nasdaq may grant exceptions for up to 180 calendar days, or until November 27, 2023, for the Company to regain compliance. If we do not restore compliance within the allotted compliance period, including any exception period permitted by the Nasdaq after submission of the Compliance Restoration Plan, the Nasdaq, if applicable, will notify the Nasdaq that our common stock will be delisted. We will notify you. Thereafter, the Company will have the right to appeal that decision to the Nasdaq Public Hearing Committee pursuant to Nasdaq Listing Rule 5815(a).
Whether the Company reinstates compliance with Nasdaq Listing Rule 5250(c)(1) or secures an exception of 180 calendar days from the date of the Form 10-K to the due date of the annual report to reinstate compliance. , or maintain compliance with any other regulations. Nasdaq listing requirements.
This announcement is made pursuant to Nasdaq Listing Rule 5250(b)(2).
About NextPlay Technology
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company that provides gaming, in-game advertising, digital banking and crypto banking services to consumers and businesses within the growing global digital ecosystem. NextPlay’s compelling products and services utilize innovative adtech, artificial intelligence and fintech solutions to leverage existing and acquired technology strengths and channels.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning and scope of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 (as amended). increase. Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements represent our current expectations, opinions, beliefs or projections about future events or performance. “will”, “may”, “expect”, “intend”, “plan”, “anticipate”, “plan”, “believe”, “estimate”, “all Statements identified by the use of forward-looking words such as “should”. ” and some of the other statements set forth above may be considered forward-looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these statements are subject to risks and uncertainties that may affect our actual future actions and expectations. Results could differ materially from those suggested or described in this news release. Factors that may cause such differences include risks and uncertainties. This includes, but is not limited to, additional capital requirements that may not be available on commercially acceptable terms and raises questions about our ability to continue as a going concern. the Company’s ability to file its Annual Report on Form 10-K for the fiscal year ending February 23, 2023 within the deadlines provided by the Nasdaq and/or its allowance to restore compliance with the Nasdaq’s continued listing rules; Ability to timely submit possible plans. The period provided by the Nasdaq. Ability to timely file subsequent periodic reports with the SEC. our ability to maintain the listing of our common stock on the Nasdaq Capital Market; Current regulations governing digital currency activity are often unclear and continue to evolve. The future development and growth of digital currencies will be affected by many factors that are difficult to predict and assess, many of which are beyond our control. The value of digital currency is volatile. Amounts owed to us by third parties that, if paid, may not be paid in a timely manner. Certain amounts owed by the Company under unpaid liabilities are secured by substantially all of the Company’s assets and related fines that the Company may incur. the fact that we are heavily indebted and could adversely affect our business and financial condition; Uncertainty and illiquidity in the credit and capital markets could impair our ability to obtain credit and funding on acceptable terms and could adversely affect the financial strength of our business partners. There is a nature. NextPlay’s officers and directors have the ability to exercise significant influence over the company. Our efforts to raise funds, meet our obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock could result in significant dilution of our shareholders. Our inability to adapt to technological changes could harm our business. Failure to adequately protect intellectual property may impair our ability to compete. Adverse changes or interpretations of government regulation or taxation of the evolving Internet and e-commerce industry that may adversely affect our operating results. Longroot and NextBank International (formerly IFEB) operational, business and regulatory risks. The markets in which we participate are highly competitive and we may not be able to compete successfully with current or future competitors. We may not be able to adapt to technological changes, which could harm our business. the volatility of our stock price; And that the company has suffered significant losses to date and requires additional capital that may not be available on commercially acceptable terms, even if at all. Further information regarding the risks and uncertainties facing NextPlay is available from time to time in NextPlay’s periodic reports filed with the SEC, including its most recent annual report on Form 10-K and quarterly report on Form 10-Q. explained in detail. cause”. These reports are available at www.sec.gov. Other unknown or unpredictable factors may also materially and adversely affect our future results of operations and/or we assume that our actual results of operations and financial condition are indicated in the forward-looking statements. It can cause a lot of difference. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date of this press release. We undertake no obligation to update or revise our forward-looking statements, except as required by law or made by third parties for which we do not pay their costs. If the Company updates one or more of his forward-looking statements, no inference should be made to make additional updates to them or any other forward-looking statements.
Source: NextPlay Technologies, Inc.
Company Contact:
NextPlay Technologies, Inc.
Richard Marshall
Management Development Director
Phone: (954) 888-9779
Email: richard.marshall@nextplaytechnologies.com
