MGT appreciates the time given to the Company to cure its deficiencies, and has informed NYSE MKT of its intention to pursue the right of appeal and request a hearing pursuant to Sections 1203 and 1009(d) of the Company Guide. There can be no assurance that the Company’s request for continued listing will be granted at this hearing. In the event MGT’s appeal is unsuccessful, the Company expects that its common stock will trade on OTC-QB no later than any official delisting from NYSE MKT.After careful analysis, the Company’s board of directors concluded that current negotiations for equity capital, including one memorialized in a non-binding Term Sheet, would, if consummated quickly, put MGT compliance with the Exchange’s listing standards and allow MGT to retain its NYSE MKT listing. The marginal costs of the appeal and of continuing ongoing negotiations create a positive cost/benefit tradeoff. However, there can be no guarantee of retaining the Exchange listing even if the Company successfully cures its equity deficiency. In any scenario, MGT intends to remain as a fully reporting, current SEC filer with transparent accounting and proper corporate governance.
MGT Capital Investments, Inc. Receives Delisting Notice From NYSE MKT Expects To Appeal The Staff’s Determination With Plan To Meet Exchange Standards
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