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

Urban-gro, Inc., a Design-Build firm and professional services provider to the Controlled Environment Agriculture sector, announced it received a non-compliance notice from Nasdaq. The notice, dated September 21, 2024, pertains to the company's failure to submit its Quarterly Report on Form 10-Q for the period ending September 30, 2024. This lack of filing violates Nasdaq's Rule 5250(c)(1), which mandates timely financial disclosures to the SEC.

The notification does not immediately affect urban-gro's listing on the Nasdaq Capital Market. The company has been working on correcting past financial reporting errors related to deferred tax liabilities from previous acquisitions, leading to delays in updating its financial statements for fiscal years 2022 and 2023.

The company has communicated a compliance plan to Nasdaq, with a deadline set for January 31, 2025, to submit outstanding filings. Failing that, urban-gro risks delisting but can appeal any such decision.