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CRANFORD, N.J., Oct. 24, 2016 /PRNewswire/ -- TOFUTTI BRANDS INC. ("Tofutti" or the "Company") announced today that its common stock will commence trading on the OTCQB market, effective with the opening of the stock market on October 24, 2016, and will continue to trade under the Company's current symbol "TOF". As previously reported, the move is a result of the Company receiving notice from the NYSE MKT of non-compliance with the stockholders' equity requirements of Section 1003(a)(ii) of the NYSE MKT Company Guide, and the Company's subsequent voluntary decision to delist from the NYSE MKT.
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CRANFORD, N.J., Sept. 30, 2016 /PRNewswire/ -- TOFUTTI BRANDS INC. (TOF) ("Tofutti" or the "Company") announced that its Board of Directors has commenced a review of its strategic alternatives intended to enhance shareholder value. This review may result in the Company's continuing to pursue value-enhancing initiatives as a standalone company or a possible sale or other form of business combination. The Board of Directors has retained BDA Advisers, Inc. as its financial advisor and Carter Ledyard & Milburn LLP as its legal advisor in connection with the review. No decision has been made to enter into any transaction at this time, and there can be no assurance that the consideration of strategic alternatives will result in any transaction. There is no set timetable with respect to the Board's review, and the Company does not expect to make further public comment regarding these matters unless and until the Board approves a specific action or otherwise concludes its review.