CARLSBAD, Calif., Jan. 15, 2021 /PRNewswire/ -- NTN Buzztime, Inc.
(NYSE American: NTN), announced it received a letter from the NYSE
Regulation stating that it is not in compliance with NYSE American
LLC continued listing standards. Specifically, the Company is not
in compliance with Section 704 of the NYSE American Company Guide
because it did not hold an annual meeting during the fiscal year
ended December 31, 2020.
NTN continues to not be in compliance with Sections 1003(a)(i),
(ii) and (iii) of the Company Guide because it reported
stockholders equity of less than $2
million, $4 million and
$6 million as of June 30, 2020, March 31,
2020 and December 31, 2019,
respectively. As a result, NTN became subject to the
procedures and requirements of Section 1009 of the Company Guide,
which included submitting a plan to NYSE Regulation advising of
actions NTN has taken or will take to regain compliance with
Sections 1003(a)(i), (ii) and (iii) of the Company Guide by
September 27, 2021. As
previously reported, NYSE Regulation notified NTN that it accepted
NTN's plan to regain compliance and granted NTN a plan period that
extends through September 27,
2021.
The listing of NTN's common stock on the NYSE American is being
continued during the plan period pursuant to an extension. The NYSE
Regulation staff will review NTN periodically for compliance with
initiatives outlined in its plan. If NTN is not in compliance with
Sections 1003(a)(i), (ii) and (iii) by September 27, 2021 or if NTN does not make
progress consistent with its plan during the plan period, NYSE
Regulation staff will initiate delisting proceedings as
appropriate.
NTN can give no assurances that it will be able to maintain the
listing of its common stock on the NYSE American. NTN's common
stock could be delisted because it does not make progress
consistent with its plan during the plan period, because it does
not regain compliance with Sections 1003(a)(i), (ii) and (iii) by
September 27, 2021, because it does
not regain compliance with Section 704, or because its falls below
compliance with other NYSE American listing standards.
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.
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SOURCE NTN Buzztime, Inc.