SEGG Media Requests Nasdaq Stay to Avoid October 23 Trading Suspension

Sports Entertainment Gaming Global Corporation (Nasdaq: SEGG, LTRYW) has requested a hearing and a stay of trading suspension from The Nasdaq Stock Market LLC following a staff determination that the company failed to file its second-quarter 2026 financial report on time. The company announced on October 20, 2026, that it received the staff determination letter on October 14, 2026, and has paid the $20,000 fee required to review the decision before the Nasdaq Hearings Panel.

The non-compliance stems from a failure to file the Quarterly Report on Form 10-Q for the period ended June 30, 2026, within the 180-day exception period granted by Nasdaq. The staff previously notified the company of listing deficiencies on April 17, May 21, and August 20, 2026, covering three specific reports: the Annual Report on Form 10-K for the year ended December 31, 2025, and two quarterly reports for March 31 and June 30, 2026. Nasdaq has provided written confirmation that the company is no longer non-compliant regarding the Form 10-K and the March 31, 2026 Form 10-Q, as both were filed within the allowed timeframe. The current determination rests solely on the missing June 30, 2026 filing.

Absent an appeal, Nasdaq stated that trading of SEGG Media's common stock and warrants would be suspended on October 23, 2026. The company would also file a Form 25-NSE with the Securities and Exchange Commission to remove its securities from listing. By requesting a hearing, the company has secured an automatic stay of any suspension for 15 days from the date of the request. The company has additionally requested an extended stay pending the hearing outcome. 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 for the period ended June 30, 2026 as soon as practicable to cure the remaining deficiency. However, 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. The company noted that it has previously navigated this process; in 2023, while operating as Lottery.com, Inc., a Hearings Panel granted additional time to file delinquent reports and meet bid price requirements. Nasdaq confirmed compliance on September 8, 2023, and maintained the listing at that time. The company cautioned that prior outcomes do not indicate the result of the current proceeding.