Broad Street Realty ( (BRST) ) has released a notification of late filing.
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Broad Street Realty, Inc. has filed a Form 12b-25 to notify the delay in submitting its Form 10-Q (Quarter Report) for the financial period ending June 30, 2025. The delay is primarily due to the deconsolidation of the Eagles Sub-OP, which resulted from the Fortress Member’s rescission of a waiver and subsequent removal of Broad Street’s Operating Partnership as managing member. This significant change requires additional disclosures and time for the company’s accounting firm to review the financial statements. Broad Street Realty anticipates filing the report within five calendar days following the due date. The financial impact of the deconsolidation is substantial, with the company unable to provide a reasonable estimate of its results for the period. The company has expressed concerns about its ability to continue as a going concern due to cash flow issues and is in discussions with the Fortress Member regarding future funding. The notification is signed by Michael Z. Jacoby, the CEO, indicating ongoing compliance efforts.
More about Broad Street Realty
Average Trading Volume: 10,728
Technical Sentiment Signal: Sell
Current Market Cap: $1.49M
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