secwatch.observer — SEC 8-K summary
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Issuer:     URBAN ONE, INC. (UONE)
CIK:        0001041657
Form:       8-K
Filed at:   2023-04-07T23:59:59+00:00
Accession:  0001558370-23-005612
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 3.01, 4.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban One receives Nasdaq delisting notice, will restate 2021-2022 financials due to MGM interest valuation error
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- Received Nasdaq non-compliance notice for late 2022 Form 10-K; 60 days to file or submit plan (deadline June 2, 2023).
- Restating financial statements for 2021 and interim 2022 due to understatement of MGM National Harbor investment value (put notice of ~$136.8M).
- Identified material weakness in internal controls over financial reporting; remediation plan to be detailed in 10-K.
- Company expects unqualified audit opinion and 2022 results within previously provided guidance range.
- Common stock (UONE, UONEK) faces potential delisting if compliance not regained.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041657/000155837023005612/0001558370-23-005612-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041657/000155837023005612/uone-20230403x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-005612

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