Sports Entertainment Gaming Global Corporation filed a request for a hearing before the Nasdaq Hearings Panel to challenge a delisting determination that threatens to suspend trading of its common stock and warrants on October 23, 2026.
The company announced on October 20, 2026, that it received a Staff Determination letter from The Nasdaq Stock Market LLC on October 14, 2026. The letter stated that SEGG Media has not regained compliance with Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of periodic financial reports with the Securities and Exchange Commission. The company has paid the applicable $20,000 hearing fee and is currently awaiting confirmation of a hearing date.
Nasdaq staff previously notified the company of non-compliance on April 17, May 21, and August 20, 2026. These notices covered three delinquent filings: the Annual Report on Form 10-K for the year ended December 31, 2025, and Quarterly Reports on Form 10-Q for the periods ended March 31, 2026, and June 30, 2026. Staff granted the company 180 calendar days from the due date of the Form 10-K to cure these deficiencies.
SEGG Media has since filed the Form 10-K and the Form 10-Q for the period ended March 31, 2026. Nasdaq provided written confirmation that the company is no longer non-compliant regarding those two specific filings. The current determination rests solely on the company's failure to file the Form 10-Q for the period ended June 30, 2026, within the allowed exception period.
The hearing request automatically stays any suspension for 15 days from the date of the request. SEGG Media has also requested an extended stay pending the outcome of the hearing. Hearings are typically scheduled 30 to 45 days after a request is made. The company stated it intends to file the outstanding Form 10-Q as soon as practicable to cure the remaining deficiency.
There is no assurance that the Hearings Panel will grant an extended stay or an exception to the continued listing standard for up to 360 days from the initial delinquency. If the appeal fails, Nasdaq would file a Form 25-NSE with the SEC to remove the company's securities from listing.
The company noted that it has navigated this process before. In 2023, while operating as Lottery.com, Inc., it appeared before a Hearings Panel. That panel granted additional time to file delinquent reports and meet minimum bid price requirements. On September 8, 2023, Nasdaq notified the company that it had regained compliance, and its listing was maintained.
SEGG Media operates a portfolio of digital assets including Sports.com, Concerts.com, TicketStub.com, Lottery.com, and Veloce Media Group. The company highlighted risks related to its ability to complete and file the outstanding Form 10-Q within its anticipated timeframe, as well as the potential impact of any suspension or delisting on the liquidity and market price of its securities.