HOUSTON, May 21, 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 May 17, 2019 letter was sent as RCI
has not yet filed its Form 10-Q for the quarter ended March 31,
2019. RCI intends to regain compliance and file its 10‑Q as soon as
practicable. Nasdaq's letter has no immediate effect on the listing
of RCI common stock on the Nasdaq Stock Market.
Under Nasdaq's rules, the company has until July 16, 2019 to file its 10-Q or submit a plan
to regain compliance with continued listing requirements. If Nasdaq
accepts the plan, it may grant an exception of up to 180 calendar
days from the 10-Q's due date, or up to November 6, 2019, to regain compliance. RCI may
regain compliance at any time during the 180-day period upon filing
its 10-Q as well as all subsequent required periodic financial
reports due within that period. If Nasdaq does not accept the
company's plan, RCI will have the opportunity to 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 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.