AMMO Receives Nasdaq Deficiency Notice for Delayed 10-Q Filing

On November 20, 2024, AMMO, Inc. (NASDAQ: POWW) acknowledged receipt of a deficiency notification from The Nasdaq Stock Market LLC, highlighting non-compliance with Nasdaq Listing Rule 5250(c)(1). The trigger for this notice was the failure to promptly file the Quarterly Report on Form 10-Q for the quarter ending September 30, 2024, as articulated in the Form 12b-25 filed with the Securities and Exchange Commission on November 13, 2024. The particular listing rule necessitates Nasdaq-listed firms to timely submit all mandatory periodic financial reports to the SEC.

An independent investigation, referred to as the ‘Investigation,’ currently hinders the timely filing of the Form 10-Q as reported in the Form 12b-25. The company detailed that it will strive to submit a plan to regain compliance, termed the ‘Plan,’ by January 21, 2025. Upon acceptance, Nasdaq holds the authority to extend the Compliance Period by up to 180 days from the Form 10-Q due date, or until May 19, 2025.

While the company couldn’t provide a precise timeframe for the Form 10-Q filing, AMMO assured stakeholders of its continued commitment to complete and submit the report as soon as practical within the designated Compliance Period. The uncertain nature of regaining compliance and sustaining it alongside Nasdaq Listing Rules poses challenges, with potential delisting if compliance isn’t restored timely.

The company clarified that the Notice’s receipt did not immediately impact the common stock or preferred stock’s Nasdaq listing. It further cautioned investors on “forward-looking statements” inherent in the report, emphasizing the risks accompanying such prognostications. For more details, investors were encouraged to refer to the risk factors included in the Company’s Annual Report on Form 10-K and other SEC filings available on the SEC’s website.

With a core commitment to innovation, AMMO remains a key player in designing and manufacturing products for various applications, catering to law enforcement, military, sport shooting, and self-defense needs. The company’s ownership of GunBroker.com, the most extensive online platform for firearms, hunting, shooting, and related products, emphasizes its industry presence and diversification strategies.

Investors and stakeholders were advised not to solely rely on forward-looking statements shared, reminding them of the uncertainties and factors that could influence the Company’s future performance.

Contact:
CoreIR
Phone: (212) 655-0924
Email: [email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AMMO’s 8K filing here.

About AMMO

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.