Loop Media receives non-compliance letter from NYSE American

Loop Media announced that on April 23 it received a letter from the NYSE American advising the Company is not in compliance with the NYSE American continued listing standards set forth in Sections 1003 in the NYSE American Company Guide given the reported stockholders’ deficit as of December 31, 2023, and losses from continuing operations and/or net losses in its five most recent fiscal years ended September 30, 2023. The Notice also advised that the Company is not currently eligible for any exemption set forth in Section 1003 of the NYSE American Company Guide. The Notice has no immediate impact on the listing of the Company’s shares of common stock, par value $0.0001 per share, which will continue to be listed and traded on the NYSE American during the period mentioned below, subject to the Company’s compliance with the other listing requirements of the NYSE American. The Common Stock will continue to trade under the symbol “LPTV,” but will have an added designation of “.BC” to indicate the status of the Common Stock as “below compliance.” The Notice does not affect the Company’s ongoing business operations or its reporting requirements with the SEC. The Company is required to submit a plan of compliance by May 23, 2024, addressing how the Company intends to regain compliance with Sections 1003 of the NYSE American Company Guide by October 23, 2025. The Company is committed to considering available options to regain compliance with the NYSE American’s stockholders’ equity requirements. There can be no assurance that the Company will be able to achieve compliance with the NYSE American’s continued listing standards within the required time frame.