Stran & Company receives Nasdaq deficiency notification

Stran & Company announced that it has received a written notification from the Listing Qualifications staff of The Nasdaq Stock Market as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 in a timely fashion. The Notification Letter advised the company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1). As reported by the company in its Form 12b-25 filed with the Securities and Exchange Commission on August 15, 2024, the Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense primarily because the company was required to dismiss BF Borgers CPA PC as the company’s former independent registered public accounting firm on May 13, 2024 as a result of an SEC order permanently barring BF Borgers and its sole audit partner, Benjamin F. Borgers CPA, from appearing or practicing before the SEC as an accountant, and needs additional time to assess the impact of BF Borgers’ and Mr. Borgers’ conduct as described in the Order on the Company’s financial statements for prior fiscal periods.