Smith-Midland announces receipt of Nasdaq letter

Smith-Midland Corporation announced that it received a letter dated April 19, 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 Securities and Exchange Commission. The required filing in question is the company’s Annual Report on Form 10-K for the year ended December 31, 2023. The delay in filing the Form 10-K is related to the company requiring additional time to complete its financial reporting close process, as referenced in the recent filing of Form 12b-25. “The company expects to file in the near future. As previously reported throughout 2023, revenue is expected to be higher for the year ended December 31, 2023 than the prior year ended December 31, 2022 resulting in higher net income for the year ended December 31, 2023 than the prior year ended December 31, 2022,” the company stated.