Broadway Financial Corporation received a letter from Nasdaq regarding the late filing of its Form 10-Q for the quarter ended June 30, 2025.
The delay is due to the company requiring additional time to evaluate its participation agreements for compliance with accounting standards, impacting the financial statements.
Nasdaq has provided the company with a timeline to submit a compliance plan to regain compliance with the listing rules.
Late Filing Notification
Received a notice from Nasdaq stating non-compliance with listing rules due to the delayed 10-Q filing.
Reason for Delay
Additional time needed to assess participation agreements for financial statement compliance.
Compliance Plan Timeline
Given 60 days to submit a plan with a potential 180-day extension for filing the Form 10-Q.
- The delay in filing the 10-Q may impact the listing and trading of Broadway Financial Corporation's common stock on Nasdaq.
- Investors may closely monitor the company's progress in submitting the compliance plan and filing the Form 10-Q to assess future implications.
Broadway Financial Corporation aims to expedite the filing process and submit the Form 10-Q promptly to comply with Nasdaq's requirements and maintain its listing status on the exchange.