UNITED STATES
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FORM
CURRENT REPORT
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On January 10, 2024, the Nasdaq Stock Market, LLC (“Nasdaq”) issued a letter to Mobile Global Esports, Inc. (the “Company”) that since the Company has not held an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year end, it no longer complies with Nasdaq’s Listing Rules (the “Rules”). Under the Rules, the Company now has 45 calendar days to submit a plan to regain compliance and, if accepted, Nasdaq can grant an exception of up to 180 calendar days form the fiscal year end, or until June 28, 2024, to regain compliance. The Company plans to timely submit a plan to regain compliance and has started the process to holding its annual meeting.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 11, 2024, Kiki Benson, the CFO of the Company, resigned as CFO, effective immediately. On January 11, 2024, the Board of Directors of the Company appointed Mark J. Keeley as Chief Financial Officer of the Company on a consultancy basis. Ms. Benson has agreed to continue to work with the Company as a consultant.
Mr. Keeley is a former Big 4 Partner with over 35 years of domestic and international experience, including 15 years as a signing Partner with PricewaterhouseCoopers LLP and 10 years as a financial expert on the Board of Directors, as a Chief Financial Officer (CFO) and as an Independent Advisor for a number of private and public entities.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 12, 2024
| MOBILE GLOBAL ESPORTS INC. | ||
| By: | /s/ Marco Welch | |
| Marco Welch | ||
| Chairman | ||
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