Urban-gro, Inc. Faces Nasdaq Delisting and Outlines Strategic Measures

Urban-gro, Inc., a design-build firm, announced that it faces potential delisting from Nasdaq due to non-compliance with certain listing rules. The company has not filed its annual and quarterly reports on time and failed to maintain a minimum stockholders' equity. In response, Urban-gro plans to appeal the decision, which will temporarily prevent delisting.

The company has launched a comprehensive strategy to improve its financial standing. This includes cost-saving measures aimed at reducing operating expenses by over $10 million annually. Urban-gro is also optimizing assets and exploring partnerships and funding options to strengthen its position.

Commitment to compliance is a priority, with a dedicated team addressing regulatory issues. CEO Bradley Nattrass emphasizes the company's focus on restoring compliance and enhancing shareholder value, viewing current challenges as opportunities for growth.