HOUSTON, Feb. 18, 2020 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) received on February 13, 2020, as anticipated, a letter from
the Nasdaq Stock Market notifying the company of its continued
noncompliance with Listing Rule 5250(c)(1) requiring the timely
filing of reports with the SEC. Nasdaq sent the letter in
connection with RCI not filing its Form 10-Q for the first quarter
ended December 31, 2019 and its Form 10-K for the year ended
September 30, 2019. Nasdaq's letter has no immediate effect on the
company's stock listing.
On February 13, 2020, the company
filed its Form 10-K for the year ended September 30, 2019. The next day, February 14, 2020, RCI submitted a plan to Nasdaq
to regain compliance. RCI anticipates filing its Form 10-Q before
the end of the month, assuming there are no unforeseen delays.
If Nasdaq accepts the plan, the exchange may grant an exception of
up to 180 calendar days from the 10-K's due date, or until
June 15, 2020, to regain
compliance.
Forward-Looking Statements
This press release may contain forward-looking statements that
involve a number of risks and uncertainties that could cause the
company's actual results to differ materially from those indicated
in this press release, including, but not limited to, the risks and
uncertainties associated with (i) operating and managing an adult
business, (ii) the business climates in cities where it operates,
(iii) the success or lack thereof in launching and building the
company's businesses, (iv) cyber security, (v) conditions relevant
to real estate transactions, (vi) our ability to regain and
maintain compliance with the filing requirements of the SEC and the
Nasdaq Stock Market, and (vii) numerous other factors such as laws
governing the operation of adult entertainment businesses,
competition and dependence on key personnel. The company has no
obligation to update or revise the forward-looking statements to
reflect the occurrence of future events or circumstances.
Contacts: Gary Fishman and
Steven Anreder at (212) 532-3232 or
gary.fishman@anreder.com and steven.anreder@anreder.com
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SOURCE RCI Hospitality Holdings, Inc.