Nasdaq staff determination.
February 27 2023 - 5:25PM
Vinco Ventures, Inc. (Nasdaq: BBIG) (“Vinco Ventures,” “Vinco,” or
the “Company”), a digital media and content technologies company,
announced receipt of a staff determination on February 21, 2023. On
January 4, 2023, Staff notified the Company that since it had not
held an annual meeting of shareholders within twelve months of the
end of the Company’s fiscal year end, it no longer complied with
our Listing Rules (the “Rules”) for continued listing. In that
regard, the Company was required to submit its plan by February 20,
2023, which was timely submitted. However, pursuant to Listing Rule
5810(c)(2)(A), this deficiency serves as additional and separate
basis for delisting. The letter is formal notification that the
Nasdaq Hearings Panel (the “Panel”) will consider this matter in
rendering a determination regarding the Company’s continued listing
on The Nasdaq Capital Market.
About Vinco VenturesVinco
Ventures (Nasdaq: BBIG) is focused on the development of digital
media and content technologies. Vinco Ventures’ consolidated
subsidiary, ZVV Media Partners, LLC, a joint venture of Vinco
Ventures and ZASH Global Media and Entertainment Corporation, has
an 80% ownership interest in Lomotif Private Limited. Vinco
Ventures owns a 100% ownership interest in AdRizer, LLC.
For more information, please visit
investors@vincoventures.com.
Forward-Looking Statements and Disclaimers
This press release contains “forward-looking
statements” as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995, which are based
upon beliefs of, and information currently available to, Vinco
Ventures’ management as well as estimates and assumptions made by
Vinco Ventures’ management. These statements can be identified by
the fact that they do not relate strictly to historic or current
facts. When used in this presentation the words “estimate,”
“expect,” “intend,” “believe,” “plan,” “anticipate,” “projected,”
and other words or the negative of these terms and similar
expressions as they relate to the applicable company or its
management identify forward-looking statements. Such statements
reflect the current view of Vinco Ventures with respect to future
events and are subject to risks, uncertainties, assumptions and
other factors relating to Vinco Ventures and its subsidiaries and
consolidated variable interest entities including Lomotif, their
industry, financial condition, operations and results of
operations. Such factors include, but are not limited to, the
expected risks and benefits from the proposed increase in Vinco
Ventures’ authorized shares as described in our proxy statement,
Vinco Ventures’ investments in ZVV Media Partners, LLC, Lomotif
Private Limited, PZAJ Holdings, LLC and related growth initiatives
and strategies such as the blended media, cross-platform
distribution strategy, the expected benefits of Lomotif’s
participation in and sponsorship of live entertainment events, the
expected benefits from acquisition of AdRizer and planned
integration of the AdRizer technology with Lomotif and Honey Badger
and synergies between AdRizer, Lomotif and Honey Badger, the
regulatory risks with the NFT and blockchain business lines and
such other risks and uncertainties described more fully in
documents filed by Vinco Ventures and Cryptyde with or furnished to
the Securities and Exchange Commission, including the risk factors
discussed in Vinco Ventures’ Annual Report on Form 10-K for the
period ended December 31, 2021 filed on April 15, 2022 which is
available at www.sec.gov. Should one or more of these risks or
uncertainties materialize, or the underlying assumptions prove
incorrect, actual results may differ significantly from those
anticipated, believed, estimated, expected, intended, or planned.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, performance, or achievements. Except as required by
applicable law, including the securities laws of the United States,
we do not intend to update any of the forward-looking statements to
conform these statements to actual results.
For further information, please contact:
Investor Contactinvestors@vincoventures.com
Vinco Ventures (NASDAQ:BBIG)
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