Urban-gro, Inc. Faces Nasdaq Non-Compliance Notice

urban-gro, Inc. has announced it received a notification from Nasdaq for not complying with Listing Rule 5250(c)(1). The notice stems from the company's failure to file its Annual Report on Form 10-K for the fiscal year ending December 31, 2024. Despite this setback, urban-gro's stock remains listed on the Nasdaq Capital Market.

The delay in filing is attributed to complications from restating previous financial statements due to errors in accounting for deferred tax liabilities. This required significant management focus and was compounded by turnover within the finance department. urban-gro has until June 16, 2025, to submit a compliance plan to Nasdaq.

The company aims to file the Form 10-K soon and, if necessary, present a compliance plan to regain adherence to Nasdaq's rules. Acceptance of this plan by Nasdaq could grant urban-gro up to 180 additional days to regain compliance.