Real Good Food receives Nasdaq notice regarding potential delisting

The Real Good Food Company announced that on September 12 it received a notification from The Nasdaq Stock Market informing the Company that Nasdaq has initiated a process that could result in the delisting of the Company’s securities from Nasdaq due to the Company’s failure to comply with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to file in a timely manner all required periodic financial reports with the Securities and Exchange Commission. The Nasdaq Staff has determined that the Company would not be able to become fully current with regards to the Company’s late filings by Octob, and as a result, the Staff determined to initiate the delisting process. Accordingly, the Company intends to timely request a hearing before an independent Hearings Panel. The hearing request will automatically stay any suspension or delisting action through October 4. Concurrent with the hearing request, the Company intends to seek, subject to the Panel’s discretion, an extended stay of suspension or delisting through the pendency of the hearing and the expiration of any additional extension period granted by the Panel following the hearing. Pursuant to the Nasdaq Listing Rules, the maximum amount of time that can be granted by the Panel runs through April 11. Despite the efforts described above, there can be no assurance that the Company will ultimately regain compliance with all applicable requirements for continued listing or that the Panel will grant the Company a further extension.