HOUSTON, Dec. 23, 2019 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) has received, as
anticipated, a letter from the Nasdaq Stock Market notifying the
company of its noncompliance with Listing Rule 5250(c)(1) requiring
the timely filing of reports with the SEC. Nasdaq's December 19,
2019 letter was sent as RCI has not yet filed its Form 10-K for the
year ended September 30, 2019. Nasdaq's letter has no immediate
effect on the company's common stock listing.
Under Nasdaq's rules, RCI has until February 17, 2020 to file its 10-K or submit a
plan to regain compliance. RCI intends to file its 10-K as soon as
practicable. If the company is unable to do so by February 17, 2020, it will submit a compliance
plan on or prior to that date. If Nasdaq accepts the plan, the
exchange may grant an exception of up to 180 calendar days from the
10-K's due date, or until June 15,
2020. The company may regain compliance at any time prior to
that date by filing its 10-K and all subsequent required periodic
financial reports that are due within that period. If Nasdaq does
not accept RCI's plan, the company can appeal that decision to a
Nasdaq panel.
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, but not limited to, the risks and
uncertainties associated with (i) operating and managing an adult
business, (ii) the business climates in cities where it operates,
(iii) the success or lack thereof in launching and building the
company's businesses, (iv) cyber security, (v) conditions relevant
to real estate transactions, (vi) our ability to regain and
maintain compliance with the filing requirements of the SEC and the
Nasdaq Stock Market, and (vii) 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.
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.