- SPAR Group (SGRP, Financial) received a Nasdaq compliance notice for late filing of Q1 2025 Form 10-Q.
- The company has 60 days to submit a compliance plan to Nasdaq.
- If the plan is accepted, Nasdaq may grant an extension until October 13, 2025, to regain compliance.
SPAR Group, Inc. (SGRP), a company known for its merchandising, marketing, and distribution services, has recently received mixed notifications from Nasdaq regarding its financial filings. On May 21, 2025, Nasdaq confirmed SGRP's compliance with its 2024 Form 10-K filing. However, the following day, the company received a deficiency notice for not filing its Q1 2025 Form 10-Q on time. This failure represents a violation of Nasdaq Listing Rule 5250(c)(1), requiring timely filing of periodic financial reports with the SEC.
While the deficiency notice does not immediately affect the listing or trading of SGRP's stock, it sets a critical deadline. SPAR Group now has 60 calendar days to submit a plan to regain compliance. If Nasdaq approves the plan, SPAR may receive an extension until October 13, 2025, to meet the compliance requirements.
The company is actively working to complete its Q1 2025 Form 10-Q and has expressed commitment to maintaining SEC reporting compliance moving forward. Failure to comply with Nasdaq's requirements could lead to potential delisting, impacting institutional investors and possibly causing volatility in the stock's market performance.
