Full Press Release Details
Buzztime, Inc. Receives Noncompliance Notice from NYSE American
Calif., March 23, 2018, - NTN Buzztime, Inc. (NYSE American: NTN), announced it received of a letter from NYSE Regulation
on March 20, 2018, stating that the company is not in compliance with Sections 1003(a)(iii) of the Company Guide of the NYSE American
LLC, because the company reported stockholders' equity of less than $6 million as of December 31, 2017 and had net losses
in five of its most recent fiscal years ended December 31, 2017. The company's stockholders' equity was $5.5 million
as of December 31, 2017. As a result, the company has become subject to the procedures and requirements of Section 1009 of the
Company Guide. The letter has no immediate effect on the listing of the company's common stock on the exchange.
order to maintain its listing, the company must submit a plan to NYSE Regulation by April 20, 2018, advising of the actions it
has taken or will take to regain compliance with Section 1003(a)(iii) by March 20, 2019. If the plan is accepted, the company
will be subject to periodic reviews for compliance with the plan. If the company does not submit a plan or if the plan is not
accepted, delisting proceedings will commence. Furthermore, if the plan is accepted, but the company is not in compliance with
the continued listing standards by March 20, 2019 or if the company does not make progress consistent with the plan, the exchange
will initiate delisting procedures as appropriate.
Buzztime's management is reviewing options to address the noncompliance and intends to submit a plan on or before the April
March 20, 2019 deadline to regain compliance is a truncated deadline because this instance of non-compliance occurred within 12
months of May 12, 2017, the date on which the company regained compliance with its previously reported non-compliance with Section
1003(a)(iii). Under Section 1009(h) of the Company Guide, the exchange may truncate the continued listing evaluation and follow
up procedures if a company, within 12 months of the end of a plan period, is again determined to be below the continued listing
(NYSE American: NTN) delivers interactive entertainment and innovative technology, including performance analytics and secure
payment with Europay, MasterCard and Visa (EMV) chip card readers or with near-field communication (NFC) technology
to accept Apple, Android and Samsung Pay. Most frequently used in bars and restaurants in North America, the Buzztime tablets
and technology offer engaging solutions to establishments that have guests who experience dwell time, such as casinos, senior
living, car dealerships and more. Casual dining venues license Buzztime's customizable solution to differentiate themselves
via competitive fun by offering guests trivia, card, sports and arcade games, personalized menus and self-service dining features.
Buzztime's platform improves operating efficiencies, creates connections among the players and venues, and amplifies guests'
positive experiences. The Buzztime platform has also been recently resold and the content licensed for other businesses serving
Chapman/Becky Herrick, LHA Investor Relations