AMMO, Inc. Received Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q

Core Viewpoint - AMMO, Inc. has received a deficiency notification from Nasdaq due to the late filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, which is linked to an ongoing independent investigation [1][2]. Compliance and Filing Status - The company has until January 21, 2025, to submit a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) [3]. - If Nasdaq accepts the plan, the company may receive an extension of up to 180 days to regain compliance, potentially until May 19, 2025 [3]. - The company is actively working to complete and file the Form 10-Q as soon as possible to meet compliance requirements [3]. Impact of Notification - The notification does not have an immediate effect on the listing of the company's common or preferred stock on Nasdaq [5]. - There is no assurance that the company will regain compliance or maintain other listing requirements, which could lead to potential delisting if compliance is not achieved within the specified period [4]. Company Overview - AMMO, Inc. is a vertically integrated producer of high-performance ammunition and components, and it owns GunBroker.com, the largest online marketplace for firearms and related products [1][6]. - The company was founded in 2016 and aims to innovate within the munitions industry, offering products such as STREAK™ Visual Ammunition and armor-piercing rounds [6]. GunBroker.com Overview - GunBroker.com serves as a platform for third-party sellers to list firearms and related items, adhering to federal and state laws regarding the sale of such products [7]. - The platform promotes responsible gun ownership and provides a secure way to buy and sell firearms and accessories online [7].