HOUSTON, July 18, 2019 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (Nasdaq: RICK) announced today that BDO USA, LLP informed the company's Board of
Directors that effective July 12,
2019 it has resigned as RCI's independent registered public
accounting firm. Additional information regarding BDO's resignation
is included in a Form 8-K filed today with the Securities and
Exchange Commission.
RCI also announced its search to identify a new independent
registered public accounting firm and that it has submitted a plan
on July 16, 2019 to The Nasdaq Stock
Market detailing plans to regain compliance with Listing Rule
5250(c)(1), as it has not yet filed its Form 10-Q for the quarter
ended March 31, 2019, as required. In addition, RCI announced that
next week it expects to report on the status of the independent
internal review into allegations raised anonymously by articles in
forums associated with the short-selling community, and also report
preliminary second quarter 2019 financial results in more
detail.
If the Nasdaq compliance plan is accepted, Nasdaq may grant RCI
an extension of up to 180 calendar days from the 10-Q's due date,
or until November 6, 2019, to regain
compliance. The company's common stock will continue to trade under
its current symbol RICK on Nasdaq pending review of the plan.
Forward-Looking Statements
This press release may contain forward-looking statements that
involve a number of risks and uncertainties that could cause the
company's actual results to differ materially from those indicated
in this press release, including the risks and uncertainties
associated with operating and managing an adult business, the
business climates in cities where it operates, the success or lack
thereof in launching and building the company's businesses, risks
and uncertainties related to cybersecurity, conditions relevant to
real estate transactions, and numerous other factors such as laws
governing the operation of adult entertainment businesses,
competition and dependence on key personnel. The company has no
obligation to update or revise the forward-looking statements to
reflect the occurrence of future events or circumstances.
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or
gary.fishman@anreder.com and steven.anreder@anreder.com
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SOURCE RCI Hospitality Holdings, Inc.