Is Vinco Ventures (BBIG) Stock About to Get Delisted?

  • Vinco Ventures (BBIG) has yet to submit earnings for the second and third quarters of 2022, which is in noncompliance with Nasdaq listing policies.
  • The company also failed to hold an annual meeting of shareholders last year.
  • BBIG stock is up about 16% year-to-date (YTD).
Vinco ventures (BBIG) logo on an orange/red background

Back in August, Vinco Ventures (NASDAQ:BBIG) received a notice from the Nasdaq saying that the company was not in compliance with the exchange’s continued listing requirements. This was due to its delinquent Form 10-Q, or earnings report, for the quarter ended June 30. The deadline had been set to Aug. 15 and extended to Aug. 22 following Vinco’s submission of a Form 12b-25. Following the notice, Nasdaq gave the company 60 calendar days to submit a plan for regaining compliance. Vinco did so, pushing the deadline back to Feb. 13 as a result.

In November, however, Vinco received another notice of noncompliance from Nasdaq — this time for its delinquent Form 10-Q for the quarter ended Sept. 30. The initial deadline to submit the form was Nov. 14. Following receipt of the notice, Vinco submitted a plan of compliance to file its Form 10-Qs for the quarters ended June 30 and Sept. 30 by no later than Jan. 30. Vinco then requested more time on Jan. 26, resulting in the deadline being pushed back to Feb. 13.

Today is Feb. 21 and there are still no earnings reports in sight.

Is BBIG Stock About to Get Delisted?

If that wasn’t bad enough, there’s another area in which Vinco is in noncompliance. On Jan. 4, Nasdaq notified Vinco that the company did not comply with its continued listing requirements by failing to hold an annual meeting of shareholders last year. The exchange provided Vinco with 45 days to submit a plan to regain compliance. If the plan is accepted, Vinco will have until June 29 to regain compliance. Vinco reportedly plans to hold the meeting no later than March 31.

Because Vinco Ventures failed to submit an earnings report by Feb. 13, the Nasdaq concluded that it did not meet the terms of the exception, or the extended deadline. Vinco says it will appeal this determination to a Hearings Panel.

This morning, the digital media company announced that it would imminently file its Form 10-Q for the quarter ended June 30. The company will also file its Form 10-Q for the quarter ended Sept. 30 by March 8.

It’s not yet known how Nasdaq will react to these delayed filings. Vinco’s appeal to the Hearings Panel and the conclusion of the hearing will likely provide a more in-depth look at the situation for BBIG stock investors.

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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. 

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

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