Ominto, Inc. Announces Non-Compliance with Nasdaq Stock Market Listing Requirements
Ominto, Inc. (Nasdaq:OMNT), a growth company with global operations in the e-commerce, marketing, and entertainment
industries, today announced that on March 1, 2018, it received a letter from Nasdaq, which supersedes its letter dated February 22,
2018 and indicates that the Company is not in compliance with Nasdaq’s continued listing requirements under the timely filing
criteria outlined in Listing Rule 5250(c)(1). Due to the delay in filing its annual report on Form 10-K for the year ended
September 30, 2017, the Company has been unable to file its quarterly report on Form 10-Q for the quarter ended December 31, 2017
(the “Form 10-Q”) with the U.S. Securities and Exchange Commission.
The letter states that the Company must submit a plan no later than March 5, 2018, setting forth the actions it will take to
regain compliance with the Listing Rules for continued listing. If Nasdaq accepts such plan, the Company may be granted an
exception of up to 180 calendar days from the date the Form 10-K was due, or until June 27, 2018, to regain compliance. On March 5,
2018, the Company submitted its plan to regain compliance to Nasdaq. The letter from Nasdaq has no immediate effect on the listing
of the Company’s common stock on the Nasdaq Capital Market.
About Ominto, Inc.
Ominto is a growing company with global operations in the e-commerce, marketing, and entertainment industries. The company owns
or invests in strategic entities that provide value to its global customer base.
Ominto is a pioneer in global Cash Back and first to market in many regions of the world. At the core of Ominto’s business is
Dubli.com, a global consumer Cash Back e-commerce digital marketplace. At Dubli.com or at Partner sites powered
by Ominto.com, consumers shop at their favorite stores, save with the best coupons and deals, and earn Cash Back with each
purchase. The Ominto.com website features thousands of brand name stores and industry-leading travel companies from
around the world, providing Cash Back savings to consumers in more than 120 countries. Ominto’s Partner Programs offer a white
label version of the Ominto.com shopping and travel website to businesses and non-profits, providing them with a
professional, reliable web presence that builds brand loyalty with their members, customers or constituents while earning
commissions for the organization and Cash Back for shoppers on each transaction.
For more information, please visit Ominto's corporate website http://ominto.com .
Forward-looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. These include
statements about Ominto’s expectations, beliefs, intentions or strategies for the future, which are indicated by words or phrases
such as “anticipate,” “expect,” “intend,” “plan,” “will,” “believe,” “projects,” “could,” “would,” “intend” and similar
expressions. You can also identify them by the fact that they do not relate strictly to historical or current facts. The
forward-looking statements reflect Ominto’s current view about future events and are subject to risks, uncertainties and
assumptions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties,
risks, and changes in circumstances that are difficult to predict. Ominto may not actually achieve the expectations disclosed in
the forward-looking statements and you should not place undue reliance on Ominto's forward-looking statements. These
forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially from the
expectations disclosed in the forward-looking statements, including, but not limited to: risks related to Ominto’s ability to
continue as a going concern being in doubt; material weaknesses in Ominto’s internal controls, Ominto’s inability to generate
enough customers or enough purchasing activity for our shopping websites; Ominto’s inability to establish and maintain a large
growing base of Business Associates; Ominto’s failure to adapt to technological change; increased competition; increased operating
costs; changes in legislation applicable to Ominto’s business; material weaknesses in Ominto’s internal controls; Ominto’s failure
to improve our internal controls; and Ominto’s inability to generate sufficient cash flows from operations or to secure capital to
enable us to maintain our current operations or support our intended growth; along with other risks and potential factors that
could affect Ominto's business and financial results identified in Ominto's filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended September 30, 2016.
Ominto, Inc.
Elliot Sloane
Elliot.Sloane@fticonsulting.com
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