“NextPlay Technologies, incorporated Receives Notification Letter from Nasdaq Regarding Noncompliance with Listing Rule\n\nSunrise, FL – NextPlay Technologies, incorporated (NASDAQ:NXTP) announced today that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC on October 18, 2023. The letter states that the company remains noncompliant with Nasdaq Listing Rule 5250(c)(1) due to its failure to file its quarterly report on Form 10-Q for the fiscal quarter ended August 31, 2023.\n\nThe notification further states that the company has until November 2, 2023 to submit an updated plan to regain compliance, which was previously accepted by Nasdaq. Any additional exception provided by Nasdaq to allow the company to regain compliance will be limited to November 27, 2023.\n\nThis is not the first time NextPlay Technologies has received a notification letter from Nasdaq. The company previously received a letter on June 9, 2023 for its failure to file its Annual Report on Form 10-K for the fiscal year ended February 28, 2023. Another letter was received on July 19, 2023 for its failure to file its Quarterly Report on Form 10-Q for the quarter ended May 31, 2023.\n\n These notifications, the company remains confident in its ability to regain compliance. NextPlay Technologies has submitted a Compliance Plan to Nasdaq on August 4, 2023, which provided an exception until November 27, 2023 to file all delinquent reports. The company has not yet filed its Annual Report on Form 10-K for the fiscal year ended February 28, 2023, the Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2023, or the Quarterly Report on Form 10-Q for the fiscal quarter ended August 31, 2023.\n\nNasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all periodic reports with the Securities and Exchange Commission (SEC). While these notification letters have no immediate effect on the listing of the company’s common stock, failure to regain compliance within the allotted time period may result in delisting. The company would then have the opportunity to appeal this determination to a Nasdaq hearings panel.\n\nNextPlay Technologies, incorporated (Nasdaq:NXTP) is a technology solutions company that offers a wide range of products and services, including games, in-game advertising, digital banking, and crypto-banking services. The company utilizes innovative AdTech, Artificial Intelligence, and Fintech solutions to provide engaging and effective solutions to consumers and corporations within the growing digital ecosystem.\n\nIn compliance with Nasdaq Listing Rule 5250(b)(2), this announcement is made to keep shareholders and the public informed of the company’s current status. NextPlay Technologies remains committed to regaining compliance and maintaining compliance with all Nasdaq listing requirements.\n\n NextPlay Technologies, incorporated is actively working towards regaining compliance with Nasdaq Listing Rule 5250(c)(1).”$NXTP2023-12-25T06:39:45.595Z
