Smith-Midland Corp receives Nasdaq notice of non-compliance

Smith-Midland announced that it received a letter dated August 17, 2023, from Nasdaq, indicating that the company was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the SEC. The required filing in question is the company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023. The delay in filing the Form 10-Q is related to the company’s transition to a new independent registered public accounting firm as detailed in its recent filing of the Form 12b-25. The matter is not related to any of the company’s internal financial reporting processes or controls. Additionally, on August 23, 2023, the company’s Audit Committee of the Board of Directors approved the engagement of BDO USA, LLP as the company’s new registered accounting firm. It is anticipated that BDO will commence its review of the Form 10-Q shortly, after which the company will be able to file the Form 10-Q.