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NEW YORK - Allied Gaming & Entertainment, Inc. (NASDAQ:AGAE), an international entertainment company, disclosed on Monday that it has fallen out of compliance with Nasdaq’s listing requirements. The Nasdaq Stock Market issued a deficiency notice to the company due to its failure to file mandatory financial reports on time.
The company, known for offering unique experiences to gamers and concertgoers, did not meet the deadline to file its Quarterly Report for the quarter ending March 31, 2025, which was due by May 15, 2025, or May 20 following an extension request. While the company maintains strong liquidity with a current ratio of 2.57 and demonstrated revenue growth of 36% in recent quarters, it has yet to file its Annual Report for the fiscal year that concluded on December 31, 2024. These unmet obligations led to the receipt of the notice from Nasdaq.
Despite the deficiency letter, there has been no immediate impact on the trading of Allied Gaming’s common stock. The company has been given until June 16, 2025, to present a plan to Nasdaq on how it intends to regain compliance. If necessary, and if Nasdaq approves the compliance plan, the company could be granted an extension up to October 13, 2025, to file the overdue reports. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 12 additional exclusive insights available to subscribers.
Allied Gaming has expressed its intention to file the delinquent reports before the June deadline and is working to comply with Nasdaq’s requirements. However, the company has cautioned that there is no assurance that its plan to regain compliance will be accepted by Nasdaq.
The current situation with Allied Gaming serves as a reminder of the stringent regulatory requirements public companies face regarding timely financial reporting. The company’s efforts to resolve the issue will be closely monitored by investors and regulatory bodies alike. This announcement is based on a press release statement from Allied Gaming & Entertainment, Inc.
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