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AUBURN HILLS, Mich. - SPAR Group, Inc. (NASDAQ: SGRP), a provider of merchandising and marketing services with a market capitalization of $23.13 million, has announced its compliance with Nasdaq’s requirements for its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. According to InvestingPro analysis, the company appears undervalued at its current price of $1.03, trading near its 52-week low. However, the company has received a subsequent notification from Nasdaq regarding a delay in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.
The company regained compliance after filing its Annual Report on May 16, 2025. But on Sunday, May 22, 2025, SPAR Group was notified of its non-compliance with Nasdaq Listing Rule 5250(c)(1) due to the missed deadline for the quarterly filing. This rule mandates the timely submission of periodic financial reports to the Securities and Exchange Commission (SEC).
The notice from Nasdaq does not immediately affect the listing or trading of SPAR Group’s shares on the exchange. Nasdaq has provided the company with a 60-day period, ending July 21, 2025, to submit a plan to regain compliance. If the plan is accepted, Nasdaq may grant an extension until October 13, 2025, for the company to meet the listing requirements.
SPAR Group is actively working to complete and file its Form 10-Q for Fiscal 2025 and expects to maintain compliance with SEC reporting obligations following this submission.
This disclosure is in accordance with Nasdaq Listing Rule 5810(b), which mandates prompt public notification of any deficiency notice received.
SPAR Group has a history spanning over 50 years in the merchandising and marketing industry, providing services to retailers, manufacturers, and distributors worldwide. With annual revenue of $196.81 million, the company emphasizes its commitment to delivering flexible and innovative solutions to its clients. While operating with moderate debt levels, InvestingPro analysis indicates the company faces challenges with profitability in the current market environment.
Investors and stakeholders have been informed that the information provided is based on a press release statement from SPAR Group, Inc.
In other recent news, SPAR Group, Inc. has announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The delay is attributed to the ongoing merger with Highwire Capital and the transition to a new Enterprise Resource Planning system, which has extended the completion of the company’s audit. SPAR Group has received a notification from Nasdaq regarding its non-compliance due to this delayed filing but is actively working to finalize its Fiscal Year 2024 10-K report. The company must submit a compliance plan within 60 days to outline how it intends to address the filing delay, with a possible extension until October 13, 2025, to meet listing requirements. Meanwhile, Highwire Capital has confirmed its commitment to acquiring SPAR Group, with the transaction receiving approval from SPAR Group’s stockholders. The acquisition involves an all-cash purchase, and both parties are working to finalize the process, although the exact timeline remains unspecified. The acquisition has been in progress since August 30, 2024, and Highwire Capital aims to leverage SPAR Group’s services to enhance its portfolio. Investors are advised to consider the risks and uncertainties detailed in the press releases, as actual results may differ from the forward-looking statements.
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