HOUSTON, Aug. 14, 2019 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) has received, as
anticipated, a letter from the Listing Qualifications Department of
the Nasdaq Stock Market notifying the company of its noncompliance
with Listing Rule 5250(c)(1), which requires the timely filing of
reports with the SEC. Nasdaq's August 12,
2019 letter was sent as RCI has not yet filed its Form 10-Q
for the third quarter ended June 30,
2019.
As previously announced, RCI had submitted a plan on
July 16, 2019 to Nasdaq detailing
plans to regain compliance with Listing Rule 5250(c)(1) as it had
not yet filed its Form 10-Q for the second quarter ended March 31,
2019. As a result of this additional delinquency, the company must
submit no later than August 27, 2019 an update to its original plan
to regain compliance with respect to the filing requirement. If the
updated plan is accepted, Nasdaq may grant RCI an extension of up
to 180 calendar days from the second quarter 10-Q's due date, or
until November 6, 2019, to regain compliance.
RCI intends to regain compliance and file its 10‑Qs as soon as
practicable. Nasdaq's letter has no immediate effect on the listing
of RCI common stock.
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, dependence on key personnel and, in this case,
reliance on outside third parties. 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.