Prnewswireยท2025-06-02 20:10Core Viewpoint - Broadway Financial Corporation has received a notice from Nasdaq indicating non-compliance with listing rules due to the late filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 [1][2]. Group 1: Compliance and Filing Issues - The Company was unable to file the Form 10-Q on time due to the need for additional time to assess the value of a Securities Purchase Option Agreement related to its Series C Preferred Stock issued to the U.S. Treasury [3]. - The Company also requires more time to address fair value measurements disclosure and its independent accounting firm, Crowe LLP, needs additional time to complete review procedures related to the Form 10-Q [3]. - Nasdaq has granted the Company 60 calendar days from May 28, 2025, to submit a plan for regaining compliance, with a potential extension of up to 180 days for filing the Form 10-Q if the plan is accepted [4]. Group 2: Company Overview - Broadway Financial Corporation operates through its wholly-owned subsidiary, City First Bank, which serves low-to-moderate income communities in Southern California and Washington, D.C. [5]. - The Company offers a range of residential and commercial real estate loan products, as well as various deposit products including checking, savings, and retirement accounts [5].