Motorsport Games Faces Nasdaq Delisting Warning
Ticker: MSGM · Form: 8-K · Filed: Jun 5, 2024 · CIK: 1821175
Sentiment: bearish
Topics: delisting, listing-standards, nasdaq
Related Tickers: MSGM
TL;DR
MSGM got a Nasdaq delisting warning, might get kicked off the exchange.
AI Summary
Motorsport Games Inc. received a notice on June 3, 2024, indicating it failed to meet a continued listing rule or standard for the Nasdaq Capital Market. The company is currently evaluating the notice and its options, which may include appealing the determination.
Why It Matters
This filing signals potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — Failure to meet listing standards and potential delisting poses a significant risk to the company's market presence and investor base.
Key Players & Entities
- Motorsport Games Inc. (company) — Registrant
- Nasdaq Capital Market (company) — Exchange where listing is at risk
- June 3, 2024 (date) — Date of the notice
FAQ
What specific listing rule did Motorsport Games Inc. fail to meet?
The filing states that Motorsport Games Inc. received a notice of failure to satisfy a continued listing rule or standard for the Nasdaq Capital Market, but does not specify which rule was violated.
What are the potential consequences of this notice?
The notice indicates a risk of delisting from the Nasdaq Capital Market if the company cannot rectify the situation or successfully appeal the determination.
What actions is Motorsport Games Inc. taking in response to the notice?
The company is currently evaluating the notice and its available options, which may include appealing the determination.
When did Motorsport Games Inc. receive this notice?
The earliest event reported in the filing occurred on June 3, 2024, which is the date of the notice.
Is there a specific deadline mentioned for Motorsport Games Inc. to address the listing deficiency?
The filing does not specify a deadline for the company to address the deficiency or appeal the determination.
Filing Stats: 878 words · 4 min read · ~3 pages · Grade level 15.8 · Accepted 2024-06-05 16:01:34
Key Financial Figures
- $0.0001 — hich registered Class A common stock, $0.0001 par value per share MSGM The Nasdaq
- $2,500,000 — holders' equity requirement of at least $2,500,000 for continued listing on the Nasdaq Cap
Filing Documents
- form8-k.htm (8-K) — 37KB
- 0001493152-24-022715.txt ( ) — 208KB
- msgm-20240603.xsd (EX-101.SCH) — 3KB
- msgm-20240603_lab.xml (EX-101.LAB) — 33KB
- msgm-20240603_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES 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 hereunto duly authorized. Motorsport Games Inc. Date: June 5, 2024 By: /s/ Stephen Hood Stephen Hood Chief Executive Officer and President 3