MKGI Monaker Group Inc

Item 3.01 - Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

As previously disclosed in that Current Report on Form 8-K filed with the Securities and Exchange Commission by NextPlay Technologies, Inc. (the “Company”) on January 28, 2022, the Company received a notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on January 26, 2022 notifying the Company that, because the closing bid price for the Company’s common stock was below $1.00 per share for 30 consecutive trading days, the Company was not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Company initially had 180 calendar days from January 26, 2022, or until July 25, 2022, to regain compliance with the Minimum Bid Price Requirement.

On July 26, 2022, the Company received a notification letter from Nasdaq (the “Extension Notice”) notifying the Company that its extension request had been granted, and that the Company has been provided an additional 180 calendar days from July 26, 2022, or until January 23, 2023, to regain compliance with the Minimum Bid Price Requirement.

Neither the Notice nor the Extension Notice had an immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market, and, therefore, the Company’s listing remains fully effective.

If at any time before January 23, 2023, the closing bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement, and the matter would be resolved. If the Company does not regain compliance during the compliance period ending on January 23, 2023, then Nasdaq will provide written notification to the Company that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel.

The Company intends to continue actively monitoring the closing bid price for the Company’s common stock between now and January 23, 2023, and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement, including, but not limited to, implementing a reverse stock split of the Company’s outstanding securities to regain compliance with the Minimum Bid Price Requirement. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement during this additional 180 calendar day compliance period or maintain compliance with the other Nasdaq listing requirements.