The need for Urban One to have a little more time to submit its quarterly earnings reports for 2024 and its full-year 2023 results is no secret. With the July 2023 dismissal of BDO as its outside accounting firm, and the subsequent hiring of EY to take over, a restatement of quarterly financial reports for several quarters was needed.
With Urban One’s FY 2023 report still not filed with the Securities & Exchange Commission, the Nasdaq Stock Market has notified the company that its stock could be delisted. The key word here is could.