BBIG Update - Delisted and Court

This is an email that went out today in case you missed it:


BBIG Family members,

I wanted to give you a quick update.

1. Call tomorrow at 8:15 PM EST - Set Reminder Now
2. We need donations - Please Donate

If you can't make the call - it will be recorded.

Here's a quick summary of what will be discussed:

On August 3rd, we filed an emergency motion for a hearing for custodian. 3 board members had resigned from Vinco causing Nasdaq to give a final warning of delistment. Vinco received the notice on July 14th but withheld it from the court and shareholders until July 21st after our hearing.  Dirty.

In the hearing the court dismissed the defense motion for sanction but they also dismissed our motion for a custodian. The judge DID NOT dismiss the case. The case is now pending our 2nd amended complaint.

The court did not feel she had the authorization needed to grant our motion. Frankly our attorney's performance in court was not convincing. They left out some major pieces that may have compelled the court. We've fixed that situation. We have also since "paused" the Nevada state case while we work on a federal case. By pausing or "dismissing" until next filing, we have more time to work on the amended complaint if we choose to go back to state court.  The federal case is being built now.

We requested records and books and Vinco denied us. Unbelievable. We will have to take that to court as well.

The sad news is we got delisted from Nasdaq. That was a big blow.  It will be difficult to get back on. It seems the company intentionally has let the assets and everything die or be destroyed from within. How hard is it to just email shareholders of what's going on? How hard is it to file your quarterlies on time? How hard is it to try!!?? They have made not effort. They could have easily appointed another board member and submitted a plan to stay listed. They chose not to in my opinion to hide their crimes.

We are going to hold them accountable. Whistle blowers have been coming forth from the company. Many employees have been furloughed from Vinco, Lomotif and Adrizer. They are letting it go to try to hide their books and records. They can't hide everything though. We will find the money trail. We know regulatory agencies are looking into everything as well. This is far from over.

In about 2-2.5 weeks we should have our investigation complete with the Basile Law Firm and Mark Basile.

We need funds to be able to litigate future parties.  

The investigation is comprehensive and not limited to the board of directors.  It's not limited to consultants, 3rd parted companies, funder's participation, etc. We will be looking at all parties that caused our company and investment to drop to a penny stock and be delisted without any communication or care from executive management.

We are not giving up. We are determined. Many of us continue to donate to fight this and we believe we have a path to recover. It will be difficult and not without ups and downs - but many of us our committed to keep fighting.

Please continue if you believe in this cause.

Thank you to all who continue to email, DM or call to offer support. It is appreciated!!

1. Call tomorrow at 8:15 PM EST - Set Reminder Now
2. We need donations - Please Donate

Shad - aka @RetailRudy on twitter