NextPlay Technologies Receives Notice From Nasdaq Regarding Delayed Quarterly Report
Portfolio Pulse from Happy Mohamed
NextPlay Technologies, Inc. (NASDAQ:NXTP) has received a notification from Nasdaq stating that the company remains noncompliant with Nasdaq Listing Rule 5250(c)(1) due to not having timely filed its Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2023, and its Annual Report on Form 10-K for the fiscal year ended February 28, 2023. The Nasdaq notifications have no immediate effect on the listing of the company's common stock on The Nasdaq Capital Market.
July 21, 2023 | 8:47 pm
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NEGATIVE IMPACT
NextPlay Technologies has not filed its quarterly and annual reports on time, resulting in noncompliance with Nasdaq rules. However, this has no immediate impact on its stock listing.
NextPlay Technologies' failure to timely file its financial reports is a violation of Nasdaq rules, which could potentially lead to delisting if not rectified. However, Nasdaq has stated that there is no immediate effect on the company's stock listing. This could still negatively impact investor sentiment and potentially the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100