Tofutti Delisted from NYSE American, Moves to OTC Pink Market

TL;DR

**Tofutti (TOFB) delisted from NYSE American to OTC Pink due to low share price, expect lower liquidity and higher risk.**

AI Summary

Tofutti Brands Inc. (TOFB) announced on January 2, 2024, that its common stock, previously traded on the NYSE American exchange, has been delisted. The company's stock will now trade on the OTC Pink Market under the same symbol, TOFB, effective January 2, 2024. This move is a direct result of Tofutti's failure to meet the NYSE American's continued listing standards, specifically the low selling price per share, which could signal financial instability and makes the stock less attractive to institutional investors.

Why It Matters

This delisting to the OTC Pink Market typically means lower liquidity, less transparency, and increased volatility, making it a riskier investment for shareholders and potentially harder to sell shares.

Risk Assessment

Risk Level: high — Moving to the OTC Pink Market significantly increases investment risk due to reduced transparency, lower liquidity, and less stringent reporting requirements.

Analyst Insight

A smart investor would carefully evaluate the increased risks associated with OTC trading, including lower liquidity and transparency, and consider if their investment goals align with a company no longer listed on a major exchange.

Key Players & Entities

• TOFUTTI BRANDS INC. (company) — the registrant whose stock was delisted
• NYSE American (company) — the exchange from which Tofutti was delisted
• OTC Pink Market (company) — the market where Tofutti's stock will now trade
• TOFB (company) — Tofutti's trading symbol
• January 2, 2024 (dollar_amount) — the effective date of the delisting

Forward-Looking Statements

• Tofutti's stock will experience decreased trading volume and liquidity on the OTC Pink Market. (TOFUTTI BRANDS INC.) — high confidence, target: Q1 2024
• The company may face challenges in attracting new institutional investors due to its OTC listing. (TOFUTTI BRANDS INC.) — high confidence, target: Mid 2024

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share TOFB None Indicate by c

Filing Documents

• form8-k.htm (8-K) — 33KB
• 0001493152-24-000107.txt ( ) — 198KB
• tof-20240102.xsd (EX-101.SCH) — 3KB
• tof-20240102_lab.xml (EX-101.LAB) — 33KB
• tof-20240102_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 January 2, 2024 Date of Report (Date of earliest event reported) TOFUTTI BRANDS INC. (Exact name of registrant as specified in its charter) Delaware 001-09009 13-3094658 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 50 Jackson Drive Cranford , New Jersey 07016 (Address of principal executive offices and zip code) (908) 272-2400 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(g) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share TOFB None Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD. On May 22, 2023 the Registrant received a notice from the OTC Markets Group indicating that the Registrant no longer meets the Standards for Continued Qualification for the OTCQX U.S. tier as per the OTCX Rules for U.S. Companies (Version 8.6) section 3.2.b.2. The Registrant was unable to regain compliance with the Standards for Continued Qualification for the OTCQX U.S. tier. The Registrant transferred to the OTCQB market effective January 2, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: January 2, 2024 TOFUTTI BRANDS INC. (Registrant) By: /s/ Steven Kass Steven Kass Chief Executive and Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR