Live Ventures Incorporated Receives Notification of Deficiency from Nasdaq Related to Delayed Annual Report on Form 10-K
January 24 2020 - 4:15PM
Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding
company, previously announced that it was delaying the filing of
its Annual Report on Form 10-K for the year ended September 30,
2019 to allow the company additional time to finalize its financial
statements to be filed as part of the Form 10-K.
In connection with the delayed Form 10-K, on January 17, 2020,
Live Ventures received a standard notice from NASDAQ stating that
the company is not in compliance with NASDAQ Listing Rule
5250(c)(1), which requires timely filing of periodic financial
reports with the Securities and Exchange Commission. The Nasdaq
notice has no immediate effect on the listing or trading of Live
Ventures’ common stock on the Nasdaq Capital Market. Under Nasdaq’s
listing rules, Live Ventures has 60 calendar days from the date of
the letter to submit a plan to regain compliance. If the plan is
accepted, Live Ventures can be granted an exception of up to 180
calendar days from the Form 10-K’s original due date, or until July
13, 2020, to regain compliance. Live Ventures expects to submit a
plan to regain compliance or file its Form 10-K within the timeline
prescribed by Nasdaq.
About Live VenturesLive Ventures Incorporated,
originally incorporated in 1968, is a diversified holding company
with a strategic focus on acquiring profitable companies that have
demonstrated a strong history of earnings power. Through its
subsidiary Marquis Industries, the company manufactures and sells
residential and commercial carpets primarily in North America.
Marquis Industries also designs, sources and sells hard-surface
flooring. Through its subsidiary Vintage Stock, an award-winning
entertainment retailer, the company sells new and pre-owned movies,
classic and current generation video games and systems, music on CD
& LP, collectible comics, books, toys, and more. Vintage Stock,
through its stores and website, ships product worldwide directly to
the customer's doorstep. Through its subsidiary ApplianceSmart, the
company sells new major household appliances in the United States
through a chain of company-owned retail stores operating under the
name ApplianceSmart®.
Forward-Looking and Cautionary Statements The
use of the word “company” or “Company” refers to Live Ventures
Incorporated and its wholly-owned subsidiaries. This press
release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. In
accordance with the safe harbor provisions of this Act, statements
contained herein that look forward in time that include everything
other than historical information, involve risks and uncertainties
that may affect the company’s actual results. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements and include statements relating
to the Company’s ability to file its Annual Report on Form 10-K for
the fiscal year ended September 30, 2019. Live Ventures may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission
(the “SEC”) on Forms 10-K and 10-Q, Current Reports on Form 8-K, in
its annual report to stockholders, in press releases and other
written materials, and in oral statements made by its officers,
directors or employees to third parties. There can be no assurance
that such statements will prove to be accurate and there are a
number of important factors that could cause actual results to
differ materially from those expressed in any forward-looking
statements made by the company, including, but not limited
to, plans and objectives of management for future operations
or products, the market acceptance or future success of our
products, and our future financial performance. The company
cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the company’s Annual Report on Form 10-K, as amended, for
the fiscal year ended September 30, 2018 (available
at http://www.sec.gov). Live Ventures
undertakes no obligation to publicly update or revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Contact:Live Ventures Incorporated Tim Matula, Investor
Relations (425) 836-9035 tmatula@liveventures.com
http://www.liveventures.com Source: Live Ventures
Incorporated
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