NTN Buzztime Inc. received a letter from NYSE Regulation March 20 regarding its noncompliance with a listing rule of NYSE American LLC.
The company said March 23 that it is not compliant because it reported stockholders' equity of less than $6 million as of Dec. 31, 2017, and had net losses in five of its most recent fiscal years ended Dec. 31, 2017.
In order to maintain its listing, the company is required to submit a plan to NYSE Regulation by April 20, detailing the steps it will take to regain compliance by March 20, 2019.
If no plan is submitted or if it is rejected, delisting proceedings will ensue. If the plan is accepted, but the company is not in compliance with listing standards by March 20, 2019, the exchange will commence delisting procedures.
NTN said its management is reviewing options to address the noncompliance and intends to submit a plan on or before the April 20 deadline.