Connecticut COS COB, April 24, 2024–(BUSINESS WIRE)–Chicken Soup for the Soul Entertainment, Inc. (NASDAQ: CSSE, CSSEP, CSSEL, CSSEN), one of the largest providers of premium content to value-conscious consumers. (hereinafter referred to as the “Company”) today announced the following: On April 18, 2024, the Company received a letter from the Nasdaq Stock Market (“Nasdaq”) advising that the Company's securities may be delisted from the Nasdaq Capital Market as a result of the Company's annual financial results (“Delinquent I received the notification. A report on Form 10-K for the fiscal year ending December 31, 2023 had not yet been filed. Under Nasdaq rules, companies that receive a delisting decision for such delinquency must appeal to Nasdaq's Hearing Committee (the “Hearing Committee”) in accordance with the procedures set forth in the Nasdaq Listing Rules 5800 series. can be claimed. A request for a hearing on a delinquent return will only continue to suspend our securities for a period of 15 days from the date of the request. The Company has until April 25, 2024 to request an end to the suspension, pending a decision by the Hearing Committee. We plan to request that the suspension be lifted. Additionally, the Company cured the noncompliance with respect to the delinquency by filing his 2023 Annual Report on Form 10-K on April 19, 2024. Additionally, the Company is currently working to correct noncompliance with other Nasdaq regulations as described in “Updated.” on Form 8-K (filed with the SEC on March 29, 2024), and he has an appellate hearing scheduled for May 21, 2024 to address future compliance.
About Chicken Soup for the Soul Entertainment
Chicken Soup for the Soul Entertainment provides premium content to value-conscious consumers. The company is one of the largest ad-supported video-on-demand (AVOD) companies in the United States, with three flagship AVOD streaming services: Redbox, Crackle, and Chicken Soup for the Soul. In addition, the company operates Redbox Free Live TV, a free ad-supported streaming television service (FAST) with approximately 170 FAST channels and transactional video on demand (TVOD) services, and a network of approximately 27,800 kiosks nationwide. doing. American DVD rental. To provide viewers with original and exclusive content, the company produces, acquires and distributes movies and television series through Screen Media and Chicken Soup, a subsidiary of Seoul TV Group.
Forward-looking statements and available information
This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements are statements that are not historical facts. These statements are based on various assumptions and management's current expectations, whether or not identified in this press release, and are not predictive of actual results. Such assumptions include, but are not limited to, risks associated with our core strategy, operating income and margins, seasonality, liquidity, including operating cash flow, available funds, and access to funding sources; , involves a number of known and unknown risks and uncertainties. our cash flows, revenues, net income, profitability, stock price volatility, future regulatory changes, price changes, our ability to achieve and maintain market acceptance of our content streaming services and other content offerings, our executives, principals and other stakeholders; our ability to recruit and retain appropriate employees or directors, our ability to protect our intellectual property, our ability to complete and integrate future strategic acquisitions into our existing operations, our ability to manage growth, our ability to pay dividends and indebtedness; risks posed by our ability to pay, evolving regulations and other business risks, and changes in general market conditions that affect demand for our services; For a more complete description of these and other risks and uncertainties, see Items in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 19, 2024. See 1A (Risk Factors). Subsequent periodic financial reports filed with the SEC. If any of these risks materialize, or if our assumptions prove incorrect, actual results could differ materially from those suggested by the forward-looking statements contained in this press release. There is a gender.
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contact address
PR for investors
Zia Lawandou
Chicken Soup for the Soul Entertainment
Zlawandow@chickensoupforthesoul.com
media
Peter Vinazeski
Chicken soup for soul entertainment companies
pbinazeski@chickensoupforthesoul.com