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RAVE RESTAURANT GROUP, INC.

(RAVE)
  Report
Delayed Nasdaq  -  04:00 2022-10-06 pm EDT
1.490 USD   +2.05%
09/26RAVE Restaurant Group, Inc. Reports Fourth Quarter and Year End Financial Results
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09/23Rave Restaurant Group : Fiscal Q4 Earnings Snapshot
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09/23Rave Restaurant : Annual Report for Fiscal Year Ending 06-26, 2022 (Form 10-K)
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RAVE RESTAURANT GROUP, INC. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)

07/08/2020 | 04:02pm EDT

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or

Standard; Transfer of Listing

On July 1, 2020, Rave Restaurant Group, Inc. (the "Company") received notice from Nasdaq that, based on the Company's most recent Form 10-Q for the fiscal quarter ended March 29, 2020, the Company was not in compliance with Nasdaq's continued listing standard for minimum stockholders' equity of at least $2.5 million. The notice further advised that, as of July 1, 2020, the Company also did not meet the alternative continued listing standards of either (a) market value of listed securities of at least $35.0 million, or (b) net income from continuing operations of $0.5 million for the most recently completed fiscal year or two of the three most recently completed fiscal years. Under Nasdaq rules, the Company has 45 calendar days to submit a plan to regain compliance. If such plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Nasdaq notice to evidence compliance with Nasdaq's continuing listing standards.

The notice from Nasdaq has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market. The Company intends to timely submit a plan to regain compliance with Nasdaq's continued listing standards and to diligently work to evidence compliance with such continuing listing standards within any extension period granted by Nasdaq. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to evidence compliance within any extension period granted by Nasdaq. If the Company fails to timely regain compliance with Nasdaq's continued listing standards, the common stock of the Company will be subject to delisting on the Nasdaq Capital Market.

This Current Report on Form 8-K contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements related to the Company's ability to regain compliance with Nasdaq's continued listing standards. These forward-looking statements are based on current expectations that involve numerous risks, uncertainties and assumptions. Assumptions relating to these forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions, regulatory framework and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that any forward-looking statements will prove to be correct. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of such information should not be regarded as a representation that the objectives and plans of the Company will be achieved.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2022 10,7 M - -
Net income 2022 8,02 M - -
Net cash 2022 5,78 M - -
P/E ratio 2022 2,38x
Yield 2022 -
Capitalization 24,4 M 24,4 M -
EV / Sales 2021 2,49x
EV / Sales 2022 1,24x
Nbr of Employees 24
Free-Float 61,3%
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Managers and Directors
Brandon L. Solano President, Chief Executive Officer & Secretary
Clinton Dayne Fendley Chief Financial Officer
Mark E. Schwarz Chairman
Michael F. Burns Chief Operating Officer & Executive Vice President
Clinton J. Coleman Independent Director
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