NTN BuzztimeInc. received another noncompliance letter from NYSE Regulation onApril 12.
In a Form 8-K filed April 13, NTN Buzztime said that due toreported stockholders' equity of less than $4 million as of Dec. 31, 2015, andnet losses in three of the four most recent fiscal years ending Dec. 31,2015, the company is no longer incompliance with the listing standards of NYSE MKT LLC.As this event is in addition to the previous noncompliance, the company is not required tosubmit a new compliance plan.
The plan period will extend through May 13, 2017. NTN'scommon stock will continue to be listed on the NYSE MKT during this periodpursuant to an extension, with periodical reviews by the NYSE Regulation staffto check compliance with plan initiatives. If the company is not found to bemaking progress consistent with their plan, the NYSE Regulation staff willinitiate delisting proceedings.
The company said it can give no assurances that it will beable to maintain the listing of the common stock on the NYSE MKT.