Urban-gro, Inc. (NASDAQ:UGRO) announced changes to its independent registered public accounting firm and reported that it has regained compliance with Nasdaq listing requirements, according to a press release statement based on a recent SEC filing.
On February 27, the audit committee of urban-gro's board of directors approved the dismissal of Sadler, Gibb & Associates, LLC as its independent auditor. Sadler, Gibb & Associates had served as the company's auditor since May 29, 2024. The firm's reports for the fiscal years ending December 31, 2022, 2023, and 2024 did not contain adverse opinions or disclaimers, and there were no disagreements or reportable events during its tenure.
On March 3, Suri and Co., Chartered Accountants of Chennai, India, were appointed as the new independent auditor to audit urban-gro's financial statements for the year ended December 31, 2025. The company stated that neither it nor anyone on its behalf had previously consulted Suri and Co. on accounting principles, auditing matters, or any disagreements or reportable events prior to the appointment.
Separately, on March 4, urban-gro received written notice from the Nasdaq Stock Market LLC that the company has regained compliance with the Stockholders' Equity Requirement, the Annual Meeting Requirement, and the Timely Filing Requirement. The company had previously faced Nasdaq notifications relating to non-compliance with minimum bid price, stockholders' equity, annual meeting, and timely filing rules. Extensions had been granted by a Nasdaq Hearings Panel, with compliance deadlines set through February 2026.
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