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Flash Sports & Media Holdings (OTC: FLZH) reported a corporate update following the suspension of its common stock from The Nasdaq Stock Market. The company’s shares now trade on the OTC market. Flash has filed a timely appeal of Nasdaq’s determination to a Nasdaq Hearings Panel and is working with newly retained securities counsel and a Nasdaq advisory group on remediation. The appeal does not stay the suspension, and the company cautions there is no assurance on timing or outcome.
Over the last two trading days, debt holders reduced Flash’s outstanding debt by approximately $2.0 million, which management views as a step toward simplifying the capital structure and strengthening the balance sheet. Flash remains in active dialogue with its acquisition targets, which have indicated a willingness to allow additional time to work through the Nasdaq process, though transaction timelines may be affected. The company plans to keep shareholders informed about material developments on the Nasdaq appeal, capital structure and strategic transactions.
Flash Sports & Media Holdings (Nasdaq: FLZH) has entered a title sponsorship agreement to become the Official Title Sponsor of the Swiss National Cricket Men’s Team, effective August 5, 2026, for the remainder of the current season, with options for two additional seasons exercisable by Flash.
The sponsorship, procured and managed by Liberty Gaming – FZCO in partnership with Cricket Switzerland, includes team clothing branding (subject to regulations), matchday and training-venue signage, digital and broadcast presence, and film-crew access. Flash obtains ownership of content it creates for use on its streaming and promotional channels and views these content rights as the strategically significant element, while stating it does not currently expect the agreement alone to be material to its financial results.
Flash Sports & Media (NASDAQ: FLZH) and Bongo Holdings executives will appear live on TraderTV Live on Wednesday, August 19, 2026 at 11:30 a.m. ET. Chairman Suren Ajjarapu and CEO Ahad Bhai will discuss Flash Sports & Media's proposed acquisition of a 51% controlling interest in Bongo and the strategic rationale for the deal.
The interview will also cover Bongo's digital media and streaming footprint, Flash Sports & Media's broader growth strategy, and how the combination of content, distribution, technology and audience reach could support future expansion. Viewers can watch on YouTube at youtube.com/tradertvlive.
Flash (NASDAQ: FLZH) reported second quarter 2026 results reflecting its first full quarter post-merger with IPG, the Event Rights Partner for the Lanka Premier League. Revenue from continuing operations was $0.1 million, while $3.4 million of Season 6 franchise, sponsorship and production fees were billed in advance and recorded as contract liabilities, expected to be recognized as revenue in the third quarter of 2026 as the season is delivered.
Total operating expenses were $6.5 million, including $3.7 million of non-cash amortization, resulting in a net loss of $8.0 million or $(0.91) per share. Total assets rose to $266 million and stockholders’ equity to $191.9 million, driven by merger-related goodwill and intangibles. Cash increased to $2.4 million, but Flash reported a working capital deficiency of $63.6 million and an accumulated deficit of $136 million. Legacy pre‑merger operations were reclassified as discontinued, with first-half 2026 discontinued losses reduced by 90.1% to $1.0 million.
Flash Sports & Media Holdings (NASDAQ: FLZH) announced that its direct-to-consumer platform FLASHSM (flashsm.com) will stream Season 4 of the Uttar Pradesh T20 League (UPT20) exclusively in North America, adding what the company calls a marquee live cricket property.
UPT20 Season 4 runs from 14 August to 6 September 2026, featuring 6 franchises, 34 matches across 22 matchdays (including 13 doubleheaders) and 14 Indian Premier League players, such as Rinku Singh and Bhuvneshwar Kumar. Matches are scheduled at 3:30 PM and 7:30 PM IST, with the opening match and eliminator at 8:30 PM and 8:00 PM IST.
According to Flash, Season 3 of UPT20 delivered 31.3 million total viewership reach across TV and OTT, 1.19 million average TV viewers over 34 matches, 152 million total media reach and 80,000 in-stadium attendance, while marquee players collectively have more than 17 million digital followers. The company highlights International Cricket Council data estimating 20–30 million cricket fans in North America and notes that FLASHSM will provide a dedicated home for this audience to follow UPT20.
Flash (Nasdaq: FLZH) reported the successful completion of Season 6 of the Lanka Premier League, run from 17 July to 8 August 2026 with 24 matches across four Sri Lankan venues. Galle Gallants claimed their first title, beating defending champions Jaffna Kings in the final at R. Premadasa Stadium, Colombo.
Flash participated through subsidiary Innovative Production Group, which managed commercial rights and league operations. Season 6 was live streamed to North American viewers on Flash’s own OTT platform, flashsm.com, instead of via third-party distributors. During the season, Stockholm-based Anchor Sports AB acquired the Jaffna Kings franchise. Flash highlighted this operating delivery and owned distribution as the model it aims to replicate in new properties such as the planned Malaysia T20 League.
Flash Sports & Media (NASDAQ: FLZH) highlighted a live Floorstocks interview in which Chairman Suren Ajjarapu outlined the company’s cricket-focused strategy and current revenue sources. Flash generates revenue through subsidiary Innovative Production Group FZ, LLC, which holds league and media rights for the Lanka Premier League (LPL), and through its direct-to-consumer FLASHSM streaming and fan-engagement app, offering LPL T20 subscriptions from an introductory $4.99 price point.
The Chairman also described a pipeline of new professional T20 leagues in Malaysia (MT20), Zimbabwe (ZT20) and Singapore, and the development of proprietary broadcast technology, positioning Flash’s vertically integrated platform across content ownership, production, distribution and monetization to support long-term shareholder value.
Flash Sports & Media (NASDAQ: FLZH) signed a non-binding term sheet to acquire a 51% controlling interest in Bongo Holdings Pte Ltd, a South Asia-focused digital media and streaming platform. Based on Bongo management’s figures, Flash expects Bongo to contribute positive EBITDA after closing, before transaction expenses, purchase-accounting adjustments and financing costs.
Bongo reports reaching over 300 million viewers, about 73 million social followers and generating close to US$10 million in annual revenue. The proposed deal uses roughly 60% cash and 40% equity, includes limits on share issuances without stockholder approval, and provides for up to an additional $12 million management earnout tied to future revenue and EBITDA growth. If completed, Flash would combine its sports rights and production assets with Bongo’s proprietary streaming technology, digital distribution and advertising capabilities to support a vertically integrated global sports and media platform.
Flash Sports & Media Holdings (NASDAQ: FLZH) announced that Chairman Suren Ajjarapu will take part in a live shareholder interview on Floorstocks on Tuesday, August 4, 2026, at 10:00 a.m. EDT, accessible via Floorstocks.com.
The interview will cover Flash Sports & Media’s strategic vision, cricket-focused media and league initiatives, growth strategy, and plans to create long-term value in global sports and media markets. According to the company, it has paid Floorstocks approximately $35,000 for ongoing investor-relations and promotional services, under which this interview is being conducted.
Flash Sports & Media Holdings (NASDAQ: FLZH) launched its direct-to-consumer cricket streaming and fan engagement app FLASHSM in North America, offering a Premium season pass at an introductory price of $4.99 for 24 days, with pricing scheduled to increase next month.
FLASHSM Premium includes ad-free viewing, exclusive live matches, real-time ball-by-ball scores and stats, live chat, and in-app ticket purchasing. A separate LPL 2026 Pass is also available for 24 days at $4.99. According to Flash Sports & Media Holdings, the launch supports its direct-to-consumer strategy, creating a multi-revenue platform across subscriptions, advertising inventory, sponsorships, and ticketing.