Urban-gro, Inc. received a determination letter from The Nasdaq Stock Market LLC regarding its failure to timely file the Quarterly Report on Form 10-Q.
The company had previously been granted a request to continue its listing on The Nasdaq Capital Market, conditional upon regaining compliance with certain requirements by specific deadlines.
The Panel will consider the additional deficiency in deciding the company's continued listing and has requested a written submission by November 25, 2025.
Timely Filing Requirement
Failure to timely file the 10-Q report resulted in notification from Nasdaq regarding potential delisting.
Stockholders' Equity Requirement
Company must maintain minimum stockholders' equity of $2.5 million by December 31, 2025.
Bid Price Rule
Common stock bid price must be at least $1.00 per share by January 28, 2026.
- The Company faces challenges in meeting the Bid Price Rule, Timely Filing Requirement, and Stockholders' Equity Requirement.
- Forward-looking statements highlight risks and uncertainties in the Company's efforts to regain compliance with Nasdaq listing standards.
Urban-gro's ability to regain compliance with Nasdaq requirements remains uncertain. The Company is focused on addressing the deficiencies to maintain its listing status.