SEGG Media Requests Nasdaq Hearing and Stay Following Staff Determination
Two reporting deficiencies have been resolved, but the June quarterly report remains outstanding and an extended trading stay is pending.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
SEGG Media (Nasdaq: SEGG, LTRYW) requested a Nasdaq hearing after receiving a staff determination over its remaining overdue quarterly report. The October 14, 2026 determination concerns the Form 10-Q for the period ended June 30, 2026, which was not filed within the 180-day exception period.
The hearing request stays suspension for 15 days from the request date. SEGG Media also requested an extended stay pending the hearing; approval and the hearing date remain pending. Without an appeal, trading would have been suspended October 23, 2026. The company paid a $20,000 hearing fee and intends to file the remaining report as soon as practicable. Nasdaq confirmed that subsequent filings resolved the deficiencies for the 2025 annual report and March 2026 quarterly report.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Minor pointHearing request stays any trading suspension for 15 days from the request date.
- Minor point2025 annual and March 2026 quarterly reports filed; Nasdaq confirmed those filing deficiencies resolved.
Negative
- Major pointJune 30, 2026 Form 10-Q remained unfiled beyond the 180-day exception period, prompting Nasdaq’s determination.
- Minor pointExtended stay requires Hearings Panel approval; the request remains pending.
- Minor point$20,000 hearing fee paid to seek review of the staff determination.
News Explained
The Nasdaq hearing is pending, and the panel could grant an exception to the continued-listing standard for up to 360 days from the initial delinquency; SEGG says there is no assurance that it will.
Details
Market Reaction – SEGG
On Oct 20, the day this news came out, the latest delayed price for SEGG is 1.41% below the previous close. Argus tracked a peak move of +22.4% during the session. Our momentum scanner has recorded 5 alerts for this stock so far that day. The latest delayed price is $1.38.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- Outstanding filing deficiency
- 1 Form 10-Q
- The report for the period ended June 30, 2026 remained unfiled
- Hearing fee
- $20,000
- Paid with the Nasdaq hearing request
- Suspension date
- October 23, 2026
- Stated to apply absent an appeal
- Initial suspension stay
- 15 days
- From the date of the hearing request
- Typical hearing timing
- 30 to 45 days
- Hearings are typically scheduled this long after a request
- Potential listing exception
- Up to 360 days
- Possible exception from initial delinquency; no assurance it will be granted
Key Terms
form 10-q regulatory
form 25-nse regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
FORT WORTH, Texas, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Sports Entertainment Gaming Global Corporation ("SEGG Media" or the "Company") (Nasdaq: SEGG, LTRYW) today announced that on October 14, 2026, it received a Staff Determination letter (the "Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq"). The Letter states that the Company has not regained compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). The Company has timely requested a hearing before the Nasdaq Hearings Panel (the "Hearings Panel") and paid the applicable
Staff previously notified the Company on April 17, May 21 and August 20, 2026 that it was not in compliance with the rule. Those notices covered three reports:
- its Annual Report on Form 10-K for the year ended December 31, 2025
- its Quarterly Report on Form 10-Q for the period ended March 31, 2026
- its Quarterly Report on Form 10-Q for the period ended June 30, 2026
Staff granted the Company 180 calendar days from the due date of the Form 10-K. The Company has since filed the Form 10-K and the Form 10-Q for the period ended March 31, 2026. Accordingly, Nasdaq has provided written confirmation that the Company is no longer non-compliant with regard to these two filings. The current determination is based on the Company not having filed its Form 10-Q for the period ended June 30, 2026 within the 180-day exception period.
The Letter stated that, absent an appeal, trading of the Company's common stock and warrants would be suspended on October 23, 2026, and Nasdaq would file a Form 25-NSE with the SEC to remove the Company's securities from listing. The Company's hearing request stays any suspension for 15 days from the date of the request, unless the Company specifically requests, and the Hearings Panel grants, a further stay. As such, the Company has also requested an extended stay pending the hearing. Hearings are typically scheduled 30 to 45 days after a request.
The Company is currently awaiting confirmation of the hearing date and intends to file its Form 10-Q for the period ended June 30, 2026 as soon as practicable to cure the one remaining deficiency. There can be no assurance that the Hearings Panel will grant an extended stay pending the hearing or grant an exception to the continued listing standard for up to 360 days from the initial delinquency.
The Company has been through this hearing process with Nasdaq before. In 2023, while operating as Lottery.com, Inc., the Company appeared before a Hearings Panel. The Hearings Panel granted additional time to file the delinquent periodic reports and to meet Nasdaq's minimum bid price requirement. On September 8, 2023, Nasdaq notified the Company that it had regained compliance with both requirements, and the Company's listing was maintained on Nasdaq.
About SEGG Media Corporation
SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment, and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com, TicketStub.com, Lottery.com, and Veloce Media Group. Focused on immersive fan engagement, ethical gaming, and technology-driven fan experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements about the Company's hearing request and request for an extended stay, the timing of the filing of its Form 10-Q for the period ended June 30, 2026, and the continued listing of its securities. These statements are based on management's current expectations and assumptions. They are subject to risks and uncertainties that could cause actual results to differ materially, including, among others:
- the Company's ability to complete and file its outstanding Form 10-Q within the timeframe it anticipates or at all;
- whether the Hearings Panel grants an extended stay of suspension or the Company's request for continued listing;
- the risk that the Company's securities are suspended from trading or delisted from Nasdaq;
- the effect of any suspension or delisting on the liquidity and market price of the Company's securities;
- the other risks described under "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on July 10, 2026, and in its other SEC filings.
The outcome of prior Nasdaq proceedings is not indicative of the outcome of the current proceeding. These forward-looking statements speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This press release was published by a CLEAR® Verified individual.
For additional information SEGG Media press@seggmedia.com 737-587-3391 SEGG Investors ir@seggmedia.com 737-787-3891
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Why did SEGG Media request a Nasdaq hearing?
SEGG Media requested a hearing to review Nasdaq’s determination concerning its overdue June 30, 2026 Form 10-Q. That report was not filed within the 180-day exception period. Nasdaq’s periodic-report filing rule requires timely submission of required financial reports to the SEC.
Does SEGG Media’s Nasdaq hearing request prevent a trading suspension?
The hearing request stays any suspension for 15 days from the request date, but a longer stay requires Hearings Panel approval. SEGG Media requested that extension pending the hearing. Without an appeal, Nasdaq’s letter provided for suspension of the common stock and warrants on October 23, 2026, followed by removal from listing.
Has SEGG Media previously completed a Nasdaq hearing process?
SEGG Media previously completed a Nasdaq hearing process in 2023, while operating as Lottery.com. The panel granted additional time to file overdue reports and meet the minimum bid price requirement. On September 8, 2023, Nasdaq confirmed compliance with both requirements, and the listing was maintained.