{"id":274,"date":"2024-06-28T10:43:50","date_gmt":"2024-06-28T07:43:50","guid":{"rendered":"https:\/\/goldenladycasinonodepositbonus.icu\/2024\/06\/28\/motivated-entertainment-faces-nasdaq-caution-for-late-filing\/"},"modified":"2024-06-28T10:43:50","modified_gmt":"2024-06-28T07:43:50","slug":"motivated-entertainment-faces-nasdaq-caution-for-late-filing","status":"publish","type":"post","link":"https:\/\/goldenladycasinonodepositbonus.icu\/2024\/06\/28\/motivated-entertainment-faces-nasdaq-caution-for-late-filing\/","title":{"rendered":"Motivated Entertainment Faces Nasdaq Caution for Late Filing"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/bfqu0lB47E8\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Motivated Entertainment, Inc. is facing a caution from Nasdaq for its late submission of its 2023 fiscal outcomes. The firm has not yet disclosed its Form 10-K for the year concluding December 31, 2023, which breaches Nasdaq Listing Rule 5250(c)(1).<\/p>\n<p>This caution doesn&#8217;t instantly impact Motivated Entertainment&#8217;s stock listing on Nasdaq. The firm has until June 3 to file the form or present a strategy to restore compliance. If a strategy is submitted, Nasdaq could grant a 180-day dispensation, giving Motivated Entertainment until September 11 to comply. <\/p>\n<p>However, if Motivated Entertainment fails to meet these deadlines, its stock could be removed from Nasdaq.<\/p>\n<p>Motivated Entertainment has pledged to release its financial outcomes on April 15, including its Form 10-K. The company will also host a conference call on the same day to discuss the outcomes and its overall business performance. This submission will be later than Motivated Entertainment initially intended for its fourth-quarter outcomes. <\/p>\n<p>In the previous month, Inspired disclosed its projections for the fourth-quarter earnings of investors. The company anticipates reporting revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in alignment with the fourth-quarter guidance.<\/p>\n<p>Inspired revealed that it had dedicated substantial resources to a thorough examination to address the underlying causes of the postponed filing.<\/p>\n<p>The investigation uncovered that the financial statements spanning the period commencing January 1, 2021, contained inaccuracies and consequently were no longer dependable and required revision.<\/p>\n<p>Based on these discoveries, Inspired indicated the presence of one or more significant shortcomings in its internal controls. The company committed to implementing modifications to rectify these deficiencies, including revising the financial statements for the pertinent periods.<\/p>\n<p>Inspired issued another cautionary statement.<\/p>\n<p>Interestingly, the recent communication from Nasdaq followed a similar warning regarding the supplier&#8217;s delayed third-quarter earnings.<\/p>\n<p>Nasdaq contacted Inspired during the fourth quarter, alerting them that the delayed filing placed them in violation of its regulations. Nasdaq granted Inspired until January 22 to submit a plan to restore compliance, or face the possibility of delisting its stock.<\/p>\n<p>Inspired submitted its plan in January, which was subsequently approved by Nasdaq. As a result, Inspired averted any further action.<\/p>\n<p>The delayed third-quarter results demonstrated that Inspired exhibited a mixed performance during the three-month period ending September 30, 2023. <\/p>\n<p>Earnings climbed by 30.9% to $97.5 million (\u00a376.9 million\/\u20ac89.9 million).<\/p>\n<p>However, due to amplified expenditures, Inspired concluded the third quarter with a net gain of $7.2 million, a reduction of 58.6% from the corresponding period in the previous year. Moreover, adjusted EBITDA declined by 2.2% to $26.7 million.<\/p>\n<p>Income for the nine months ending September 30 rose by 18.0% to $241.8 million.<\/p>\n<p>Nevertheless, costs were elevated across nearly all categories during the nine-month period. Consequently, the period witnessed a net deficit of $1 million, in contrast to a profit of $20.4 million during the same period in the previous year. Adjusted EBITDA also expanded by 1.1% to $74 million.<\/p>\n<p>Sign up for the iGaming newsletter <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Motivated Entertainment, Inc. is facing a caution from Nasdaq for its late submission of its 2023 fiscal outcomes. The firm has not yet disclosed its [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Motivated Entertainment Faces Nasdaq Caution for Late Filing<\/title>\n<meta name=\"description\" content=\"Motivated Entertainment, Inc. is facing a Nasdaq caution for its late submission of its 2023 fiscal outcomes. 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