
-
Alcaraz races into US Open third round as Djokovic, Sabalenka advance
-
Can a giant seawall save Indonesia's disappearing coast?
-
Motive probed for US shooting that killed two children, injured 17
-
Bisexual ex-Australian Rules player praised for 'courage and bravery'
-
South Korea to ban mobile phones in school classrooms
-
Alcaraz banishes US Open demons to reach third round
-
Kipchoge feeling the pressure ahead of Sydney Marathon
-
Clooney and Netflix team up for Venice festival spotlight
-
Trump stamps 'dictator chic' on Washington
-
UN Security Council to decide fate of peacekeeper mandate in Lebanon
-
Alcaraz sprints into US Open third round as Djokovic advances
-
Qantas says profits up, strong travel demand ahead
-
'Perfect storm': UK fishermen reel from octopus invasion
-
Alcaraz crushes Bellucci to reach US Open third round
-
Townsend reveals Ostapenko 'no class' jibe after US Open exit
-
Israel ups pressure on Gaza City as Trump talks post-war plan
-
NATO says all countries to finally hit 2-percent spending goal
-
Rangers humiliated, Benfica deny Mourinho's Fenerbahce Champions League place
-
Shooter kills two children in Minneapolis church, injures 17 others
-
AI giant Nvidia beats earnings expectations but shares fall
-
Kane rescues Bayern in German Cup first round
-
Argentina's Milei pelted with stones on campaign trail
-
Stock markets waver before Nvidia reports profits climb
-
Argentina hunts Nazi-looted painting revealed in property ad
-
NGO says starving Gaza children too weak to cry
-
French PM warns against snap polls to end political crisis
-
Gunman kills two children in Minneapolis church, injures 17 others
-
Djokovic advances at US Open as Sabalenka, Alcaraz step up title bids
-
Venice Film Festival opens with star power, and Gaza protesters
-
Ex-Fed chief says Trump bid to oust US governor Cook 'dangerous'
-
Globetrotting German director Herzog honoured at Venice festival
-
Djokovic fights off qualifier to make US Open third round
-
Gunman kills two children in Minneapolis church, injures 17
-
Duplantis, Olyslagers seal Diamond League final wins
-
Israel demands UN-backed monitor retract Gaza famine report
-
Vingegaard reclaims lead as UAE win Vuelta time trial
-
Shooter kills 2 children in Minneapolis church, 17 people injured
-
Defence giant Rheinmetall opens mega-plant as Europe rearms
-
Van Gogh Museum 'could close' without more help from Dutch govt
-
Indonesia's Tjen exits US Open as Raducanu moves on
-
Trump administration takes control of Washington rail hub
-
Stock markets waver ahead of Nvidia earnings
-
Conservationists call for more data to help protect pangolins
-
US Ryder Cup captain Bradley won't have playing role
-
French star chef to 'step back' after domestic abuse complaint
-
Rudiger returns, Sane dropped for Germany World Cup qualifiers
-
S.Africa calls US welcome for white Afrikaners 'apartheid 2.0'
-
'Resident Evil' makers marvel at 'miracle' longevity
-
Denmark apologises for Greenland forced contraception
-
Hungary web users lap up footage of PM Orban's family estate

urban-gro, Inc. Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), an integrated professional services and Design-Build firm offering solutions to the Controlled Environment Agriculture ("CEA") and other commercial sectors, today announced that the Company received a notice (the "Notice) from The Nasdaq Stock Market LLC ("Nasdaq") on September 21, 2024, stating that because the Company had not yet filed its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (the "Form 10-Q"), the Company continues to not be in compliance with Nasdaq listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission.
This notification has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market.
As disclosed in the Current Report on Form 8-K filed by the Company on August 14, 2024, the Company's audit committee, in consultation with the Company's independent public accounting firm, concluded that, as a result of inadvertent errors in the accounting for deferred tax liabilities associated with historical share-purchase acquisitions made by the Company, it is appropriate to restate the Company's previously issued financial statements as of and for the fiscal years ended December 31, 2022 and December 31, 2023 and condensed consolidated interim financial statements as of and for the fiscal periods ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023, September 30, 2023, and March 31, 2024 in a comprehensive amended Annual Report on Form 10-K (the "Amended Form 10-K") for the fiscal year ended December 31, 2023 with expanded financial information and other disclosures in lieu of filing separate amended annual and quarterly reports for the affected periods during the fiscal years ended December 31, 2022 and December 31, 2023 and in an amended Quarterly Report on Form 10-Q for the three months ended March 31, 2024 (the "Amended Form 10-Q"). Given the scope of the process for preparing the Amended Form 10-K and Amended Form 10-Q, the Company was unable to complete and file the Form 10-Q by the required due date of November 14, 2024. On November 15, 2024, the Company filed a Form 12b-25 Notification of Late Filing with the SEC related to the Form 10-Q.
On September 27, 2024, the Company submitted a plan to regain compliance with Rule 5250(c)(1) with Nasdaq. On November 8, 2024, Nasdaq notified the Company that the Company must file all of its delinquent filings, including the Form 15, on or before January 31, 2025. If the Company does not regain compliance by that date, Nasdaq would provide written notification of delisting of the Company's common stock, and the Company would have the opportunity to appeal the delisting determination to a hearings panel.
About urban-gro, Inc.
urban-gro, Inc.® (Nasdaq:UGRO) is an integrated professional services and Design-Build firm. We offer value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture ("CEA"), industrial, healthcare, and other commercial sectors. Innovation, collaboration, and creativity drive our team to provide exceptional customer experiences. With offices across North America and in Europe, we deliver Your Vision - Built. Learn more by visiting www.urban-gro.com
Safe Harbor Statement
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as "believes," "will," "expects," "anticipates," "may," "projects" and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, the expected scope of the material misstatements identified in this press release and the expected timing of filing restated periodic reports and the Form 10-Q for the Company's third fiscal quarter of 2024. These and other forward-looking statements are based on the current expectations, forecasts, beliefs and assumptions of the Company's management and are subject to risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to meet the other continued listing rules of Nasdaq and whether Nasdaq exercises its discretion, if necessary, to grant an extension period based on any plan of compliance we submit. A more detailed description of these and certain other factors that could affect actual results is included in the Company's filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.
Investor Contacts:
Jeff Sonnek - ICR, Inc.
(720) 730-8160
[email protected]
Media Contact:
Barbara Graham - urban-gro, Inc.
(720) 903-1139
[email protected]
SOURCE: urban-gro, Inc.
A.Mahlangu--AMWN