CARLSBAD, Calif., June 15, 2020 /PRNewswire/ -- NTN Buzztime, Inc.
(NYSE American: NTN), announced it received a letter from NYSE
Regulation, Inc. on June 11, 2020,
stating it accepted the company's plan to regain compliance with
Section 1003(a)(iii) of the NYSE American Company Guide by
September 27, 2021, and granted the
company a plan period through September 27,
2021 to regain compliance.
In the letter, NYSE Regulation also notified the company that it
was not in compliance with Section 1003(a)(ii) of the NYSE American
Company Guide because the company reported stockholders' equity of
less than $4.0 million as of
March 31, 2020 and had net losses in
its five most recent fiscal years ended December 31, 2019. The company is not in
compliance with Section 1003(a)(iii) of the NYSE American Company
Guide because it reported stockholders' equity of less than
$6.0 million as of December 31, 2019 and had net losses in its five
most recent fiscal years ended December 31,
2019.
The company will be subject to periodic review by NYSE
Regulation staff for compliance with the company's plan to regain
compliance. If the company is not in compliance with the continued
listing standards by September 27,
2021, or if the company does not make progress consistent
with its plan during the plan period, NYSE Regulation staff will
initiate delisting procedures as appropriate. The listing of the
company's common stock on the exchange is being continued pursuant
to an extension.
About Buzztime:
Buzztime (NYSE American: NTN) delivers interactive entertainment
and innovative technology that helps its customers acquire, engage
and retain its patrons. Most frequently used in bars and
restaurants in North America, the
Buzztime tablets, mobile app and technology offer engaging
solutions to establishments that have guests who experience dwell
time, such as casinos, senior living, and more. Casual dining
venues license Buzztime's customizable solution to differentiate
themselves via competitive fun by offering guests trivia, card,
sports and arcade games. Buzztime's platform creates connections
among the players and venues and amplifies guests' positive
experiences. Buzztime's in-venue TV network creates one of
the largest digital out of home ad audiences in the US and
Canada. Buzztime hardware
solutions leverages the company's experience manufacturing durable
tablets and charging systems, enabling a diverse group of
businesses including corrections, point-of-sale and loyalty with
product implementation. Buzztime games have also been
recently licensed by other businesses serving other markets.
For more information, please
visit http://www.buzztime.com or follow us
on Facebook or Twitter@buzztime.
IR AGENCY CONTACT: Kirsten
Chapman, LHA Investor Relations, buzztime@lhai.com
415-433-3777
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SOURCE NTN Buzztime, Inc.