AMMO receives listing deficiency notifice from Nasdaq

AMMO (POWW) received an expected deficiency notification letter from Nasdaq on November 20 indicating that the company was not in compliance with Nasdaq Listing Rules as a result of the company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. The Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense as a result of the ongoing independent investigation conducted by a law firm retained by a Special Committee of the Board of Directors of the company. The company has until January 21, 2025, to submit a plan to regain compliance with the Listing Rule. The company intends to timely submit the plan, if necessary. If Nasdaq accepts the plan, Nasdaq has the discretion to grant the company an exception until May 19, 2025, to regain compliance. The company intends to file the Form 10-Q as soon as practicable to regain compliance with the Listing Rule within the compliance period.The notice has no immediate effect on the listing of the company’s common stock or preferred stock on Nasdaq.