Urban One files notice with the Securities and Exchange Commission of its inability to file both the Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and, as a result, the Form 10-Q for the quarter ended March 31, 2024. The company explains that it has determined that it is unable to file the reports within the prescribed time period without unreasonable effort or expense due to the
reasons described below. The company says it is continuing to work diligently to file its Form 10-K as soon as possible and expects to be in a position to file the Form 10-K by May 31, 2024. “Additional time is needed for the company to compile and analyze supporting documentation in order to complete the Form 10-K and in order to permit the company’s independent registered public accounting firm to complete its audits of the consolidated financial statements and internal control over financial reporting included in the Form 10-K. The company expects its auditor will issue an unqualified opinion on the consolidated financial statements. The company has identified material weaknesses in the company’s internal control over financial reporting and as a result, expects some of its internal controls over financial reporting and disclosure controls will be ineffective as of December 31, 2023. The Annual Report will describe these material weaknesses, and the company is implementing plans to remediate them.”
