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Broadway Financial Receives Nasdaq Notice for Delayed Q2 2025 Form 10-Q Filing
ByAinvest
Tuesday, Aug 26, 2025 11:37 am ET1min read
Broadway Financial Corporation (BYFC) has been notified by Nasdaq for late filing of Q2 2025 Form 10-Q due to evaluation of participation agreements under Accounting Standards Codification Topic 860. The company has 60 days to submit a compliance plan or risk potential delisting. Nasdaq has given Broadway Financial 60 calendar days to submit a compliance plan.
Broadway Financial Corporation (BYFC), the parent company of City First Bank, has received a notification from Nasdaq regarding its non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Q2 2025 Form 10-Q [1]. The delay is attributed to the company's need for additional time to evaluate participation agreements for compliance with Accounting Standards Codification Topic 860 [1]. Nasdaq has granted Broadway 60 calendar days to submit a compliance plan, with the possibility of extending the deadline to February 16, 2026, if the plan is accepted [1].The notice, while not immediately impacting Broadway's Nasdaq listing, underscores elevated regulatory risk. Delayed filings often indicate potential accounting complexities or irregularities, which could lead to restatements or adjustments to financial results [1]. The company aims to file the Form 10-Q before the 60-day compliance plan deadline, but any further delays could potentially threaten its Nasdaq listing status, significantly impacting liquidity and institutional ownership capabilities [1].
Broadway Financial has acknowledged the situation and expects to file the Form 10-Q as promptly as reasonably practicable [2]. The company's management has expressed confidence in their ability to meet the compliance plan deadline, but investors should remain vigilant regarding the elevated regulatory risk associated with delayed filings [1].
References:
[1] https://www.stocktitan.net/news/BYFC/broadway-financial-corporation-announces-notification-from-nasdaq-lb99pzjscnv7.html
[2] https://www.ainvest.com/news/broadway-financial-corporation-receives-nasdaq-notice-late-filing-form-10-2508/
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