Chicken Soup for the Soul Entertainment, a leading provider of premium content to value-conscious consumers, has received a delinquency letter from The Nasdaq Stock Market regarding the potential delisting of its securities due to the company’s failure to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
Under Nasdaq rules, the company can request an appeal to a Nasdaq hearings panel to address the delisting determination. If a hearing is requested regarding the delinquent filing, the suspension of the company’s securities will be stayed for a period of 15 days. The company intends to request a stay of the suspension and has until April 25, 2024, to do so.
In an effort to remedy its noncompliance, Chicken Soup for the Soul Entertainment has already filed its 2023 Annual Report on Form 10-K on April 19, 2024. The company is also taking steps to address its noncompliance with other Nasdaq rules and has an appeals hearing scheduled for May 21, 2024.
Chicken Soup for the Soul Entertainment is known for providing premium content to value-conscious consumers. It offers three flagship advertising-supported video-on-demand (AVOD) streaming services, namely Redbox, Crackle, and Chicken Soup for the Soul. The company also operates Redbox Free Live TV, a free ad-supported streaming television service, and has a network of approximately 27,800 DVD rental kiosks across the US.
To ensure a diverse range of original and exclusive content, Chicken Soup for the Soul Entertainment creates, acquires, and distributes films and TV series through its subsidiaries, Screen Media and Chicken Soup for the Soul TV Group.
While the company has made efforts to address its compliance issues, there are known and unknown risks and uncertainties that may impact its future performance. These risks include market acceptance of its content streaming services, ability to recruit and retain key staff, ability to protect intellectual property, and the impact of changing market conditions.
For more information and updates on Chicken Soup for the Soul Entertainment’s compliance efforts, investors can contact Zaia Lawandow, and media inquiries can be directed to Peter Binazeski.
Source: [Business Wire](https://www.businesswire.com/news/home/20240424300720/en/)
Chicken Soup for the Soul Entertainment’s recent delinquency letter from The Nasdaq Stock Market has raised concerns about the potential delisting of its securities. The company failed to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. This noncompliance with Nasdaq rules prompted a possible suspension of the company’s securities.
Under Nasdaq rules, Chicken Soup for the Soul Entertainment has the option to request an appeal to a Nasdaq hearings panel to address the delisting determination. If a hearing is requested, the suspension of the company’s securities will be put on hold for 15 days. The company has until April 25, 2024, to request a stay of the suspension.
To rectify its noncompliance, Chicken Soup for the Soul Entertainment filed its 2023 Annual Report on Form 10-K on April 19, 2024. The company is also actively taking steps to address its noncompliance with other Nasdaq rules and has an appeals hearing scheduled for May 21, 2024.
In terms of its business operations, Chicken Soup for the Soul Entertainment is renowned for providing premium content to value-conscious consumers. It offers three major advertising-supported video-on-demand (AVOD) streaming services: Redbox, Crackle, and Chicken Soup for the Soul. Additionally, the company operates Redbox Free Live TV, a free ad-supported streaming television service, and manages a network of approximately 27,800 DVD rental kiosks across the US.
To ensure a diverse range of original and exclusive content, Chicken Soup for the Soul Entertainment creates, acquires, and distributes films and TV series through its subsidiaries, Screen Media and Chicken Soup for the Soul TV Group.
While the company is actively addressing its compliance issues, there are inherent risks and uncertainties that may impact its future performance. These risks include market acceptance of its content streaming services, the ability to attract and retain key staff, the need to protect intellectual property, and the potential influence of changing market conditions.
Investors seeking further information and updates on Chicken Soup for the Soul Entertainment’s compliance efforts can contact Zaia Lawandow, while media inquiries can be directed to Peter Binazeski.
For more details, you can visit the [Business Wire](https://www.businesswire.com/news/home/20240424300720/en/).