Flash Sports & Media Holdings, Inc. received a Staff Determination letter from Nasdaq on August 19, 2026, stating that its securities are subject to immediate suspension due to the timing and sequencing of its initial listing application process following a February 2025 reverse merger. Nasdaq determined the transaction constituted a Change of Control under Listing Rule 5110(a), requiring the removal of a conversion cap from Series B Preferred Stock prior to consummation, which was not completed before stockholder approval on June 12, 2026. Trading is suspended at market open on August 26, 2026. The company intends to request a hearing before the Nasdaq Hearings Panel by that date and seeks reinstatement, asserting no substantive business deficiencies exist. Failure to secure reinstatement could adversely affect liquidity and stock price. Flash Sports & Media Holdings operates in the sports and media industry.
