Vinco Ventures Announces Nasdaq Acceptance Of Remediation Plan To Address Deficiency Notice
Today 9:08 AM ET (Benzinga)Print
Vinco Ventures, Inc. (NASDAQ:BBIG) ("Vinco Ventures," "Vinco," or the "Company"), a digital media and content technologies holding company, today announced that The Nasdaq Stock Market LLC ("Nasdaq") has accepted the Company's remediation plan (the "Plan") to regain compliance with Rule 5250(c)(1), to timely file all required periodic reports with the Securities and Exchange Commission ("SEC"), that was submitted on October 17, 2022. The Company will now have until January 31, 2023, to regain compliance.
"The Vinco leadership team is working tirelessly to regain compliance with the Nasdaq Exchange as fast as possible. The quick acceptance from Nasdaq of our remediation plan that was submitted on October 17th is key to our progress as we diligently work through Vinco's financials and quarterly filing," said Ross Miller, CEO of Vinco. "There is sufficient time for us to meet the deadlines set forth in our remediation plan, and I could not be more pleased with the team assembled at Vinco working on the path forward. In particular, this includes our expert interim CFO, Brendan Bosack, who brings to Vinco over 20 years of financial reporting and leadership experience. I look forward to keeping our shareholders and the investment community updated as we accomplish milestones."
"With Vinco's remediation plan accepted by Nasdaq, we can continue to plough forward with the work on our quarterly filings. We are confident in the timeframe set forth in our plan and we look forward to execution," added Brendan Bosack, Interim CFO of Vinco.
Brendan Bosack is a Senior Managing Director at Ankura, an advisory CFO firm, with over 20 years of experience guiding public and private companies through periods of transition, creating value for existing and future stakeholders. In leadership roles, Brendan employs a whole-to-part style, creating a framework to drive action in organizations. Brendan has an expansive background incorporating technology and process improvement experience when developing solutions. Prior to his role at Ankura, Brendan was a Vice President of Finance for two operating divisions at Eastman Kodak Company, as well as serving as the Director of Financial Planning and Reporting. He was a Vice President in both the Turnaround and Restructuring group and Information Management Systems group at a prominent global consulting company, bringing a unique blend of technology and finance experience.
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