Outdoor Holding Company Regained Nasdaq Compliance for Periodic Reporting; Annual Meeting Scheduled to Address Remaining Listing Deficiency
Posted: July 31, 2025 -- Outdoor Holding Company (Nasdaq: POWW, POWWP) (“Outdoors Online,” “we,” “us,” “our” or the “Company”), the owner of GunBroker.com, the largest online marketplace for firearms, hunting and related products, previously announced on May 28, 2025 that it had successfully regained compliance with Nasdaq Listing Rule 5250(c)(1) relating to the timely filing of periodic financial reports and is actively working to address the remaining Nasdaq listing requirement concerning the timing of its annual meeting of shareholders.
Periodic Reporting Compliance Restored
On May 21, 2025, the Company received formal confirmation from the Nasdaq Listing Qualifications Staff that it regained compliance with Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (SEC). This determination followed the Company’s filing on May 20, 2025, of its previously delayed Quarterly Reports on Form 10-Q for the fiscal quarters ended September 30 and December 31, 2024.
The Company had received deficiency notifications from Nasdaq on November 20, 2024, and February 19, 2025, as a result of these delays, which were primarily attributable to an independent investigation overseen by a Special Committee of the Board of Directors and the related financial restatement process. In addition, the Company timely filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2025, further demonstrating its commitment to regulatory compliance and timely disclosure. The Nasdaq Staff has closed the periodic reporting deficiency matter
Annual Meeting Deficiency Being Addressed
Separately, on April 2, 2025, the Company received a deficiency notice from Nasdaq for failing to hold an annual meeting of shareholders within 12 months of the end of its prior fiscal year, as required under Nasdaq Listing Rule 5620(a) and Delaware law. The Company submitted a definitive plan to regain compliance and scheduled its 2025 Annual Meeting of Shareholders for August 29, 2025.
The Company anticipates that holding the annual meeting on August 29. 2025 will resolve the remaining deficiency and return the Company to full compliance with all applicable Nasdaq listing requirements.