TruGolf Engages Eventus Advisory Group, LLC to Provide Financial Services Advisory and CFO Support
TruGolf Holdings (NASDAQ: TRUG) has engaged Eventus Advisory Group to provide financial services advisory and CFO support. Eventus, with 17 years of experience in micro- and small-cap companies, will assist TruGolf in enhancing its financial operations and meeting strategic priorities.
The company is currently working to regain compliance with Nasdaq listing requirements by their March 31, 2025 deadline. This includes efforts to improve its balance sheet by reducing outstanding liabilities and evaluating measures to meet Nasdaq's shareholders' equity requirements. TruGolf is considering all available alternatives to cure the deficiencies.
TruGolf Holdings (NASDAQ: TRUG) ha ingaggiato Eventus Advisory Group per fornire servizi di consulenza finanziaria e supporto al CFO. Eventus, con 17 anni di esperienza in aziende micro e small-cap, assisterà TruGolf nel migliorare le sue operazioni finanziarie e nel raggiungere le priorità strategiche.
L'azienda sta attualmente lavorando per ripristinare la conformità con i requisiti di quotazione Nasdaq entro la scadenza del 31 marzo 2025. Ciò include sforzi per migliorare il proprio bilancio riducendo le passività in sospeso e valutando misure per soddisfare i requisiti di capitale dei soci di Nasdaq. TruGolf sta considerando tutte le alternative disponibili per risolvere le carenze.
TruGolf Holdings (NASDAQ: TRUG) ha contratado a Eventus Advisory Group para proporcionar servicios de asesoría financiera y apoyo al CFO. Eventus, con 17 años de experiencia en empresas de micro y pequeña capitalización, ayudará a TruGolf a mejorar sus operaciones financieras y a cumplir con las prioridades estratégicas.
La empresa está trabajando actualmente para recuperar el cumplimiento de los requisitos de cotización de Nasdaq antes de la fecha límite del 31 de marzo de 2025. Esto incluye esfuerzos para mejorar su balance reduciendo las deudas pendientes y evaluando medidas para cumplir con los requisitos de capital de los accionistas de Nasdaq. TruGolf está considerando todas las alternativas disponibles para remediar las deficiencias.
TruGolf Holdings (NASDAQ: TRUG)는 Eventus Advisory Group을 고용하여 재무 서비스 자문 및 CFO 지원을 제공합니다. Eventus는 마이크로 및 소형 기업에서 17년의 경험을 가지고 있으며, TruGolf가 재무 운영을 개선하고 전략적 우선 사항을 충족하도록 지원할 것입니다.
회사는 현재 Nasdaq 상장 요건을 2025년 3월 31일 마감일까지 준수하기 위해 노력하고 있습니다. 여기에는 미지급 부채를 줄이고 Nasdaq의 주주 자본 요건을 충족하기 위한 조치를 평가하는 등 재무 상태를 개선하기 위한 노력이 포함됩니다. TruGolf는 결함을 해결하기 위해 가능한 모든 대안을 고려하고 있습니다.
TruGolf Holdings (NASDAQ: TRUG) a engagé Eventus Advisory Group pour fournir des services de conseil financier et un soutien au CFO. Eventus, avec 17 ans d'expérience dans les entreprises de micro et petite capitalisation, aidera TruGolf à améliorer ses opérations financières et à répondre à ses priorités stratégiques.
L'entreprise travaille actuellement à rétablir sa conformité avec les exigences de cotation Nasdaq d'ici la date limite du 31 mars 2025. Cela inclut des efforts pour améliorer son bilan en réduisant les passifs en cours et en évaluant des mesures pour répondre aux exigences de capitaux propres des actionnaires de Nasdaq. TruGolf envisage toutes les alternatives disponibles pour remédier aux insuffisances.
TruGolf Holdings (NASDAQ: TRUG) hat die Eventus Advisory Group beauftragt, um Finanzberatungsdienste und CFO-Unterstützung bereitzustellen. Eventus, mit 17 Jahren Erfahrung in Mikro- und Small-Cap-Unternehmen, wird TruGolf dabei helfen, seine Finanzoperationen zu verbessern und strategische Prioritäten zu erreichen.
Das Unternehmen arbeitet derzeit daran, die Einhaltung der Nasdaq-Listing-Anforderungen bis zur Frist am 31. März 2025 wiederherzustellen. Dazu gehören Bemühungen, die Bilanz zu verbessern, indem ausstehende Verbindlichkeiten reduziert und Maßnahmen bewertet werden, um die Eigenkapitalanforderungen von Nasdaq zu erfüllen. TruGolf prüft alle verfügbaren Alternativen, um die Mängel zu beheben.
- Engaged experienced financial advisory firm to strengthen financial operations
- Working actively to reduce outstanding liabilities
- Risk of Nasdaq delisting due to non-compliance with listing requirements
- Current shareholders' equity below Nasdaq minimum requirements
- Outstanding liabilities affecting balance sheet health
Insights
TruGolf's engagement of Eventus Advisory Group for financial services and CFO support represents a critical strategic move as the company faces a pressing March 31, 2025 deadline to regain Nasdaq compliance. This development has several important implications for investors:
The timing is particularly significant - with barely a month remaining before the compliance deadline, TRUG is bringing in specialized expertise rather than relying solely on internal resources. This suggests both urgency in addressing financial deficiencies and a recognition that external specialized help is needed.
For context, Nasdaq's continued listing standards typically require companies to maintain a minimum of
The engagement of external CFO support rather than hiring a permanent executive suggests a tactical approach focused on immediate compliance rather than long-term financial leadership restructuring. This could be more cost-effective in the short term but raises questions about sustainable financial management.
For investors, this development presents a mixed signal: positively, it demonstrates management is taking concrete action to address compliance issues, but negatively, it confirms serious financial structure problems requiring external intervention. The March deadline creates a very specific catalyst that will determine whether TRUG can maintain its Nasdaq listing - a critical factor for maintaining liquidity and access to capital markets.
Should TRUG fail to regain compliance, potential consequences include delisting to OTC markets, which would significantly reduce liquidity, institutional investor interest, and likely impact valuation. This engagement represents a material effort to prevent that outcome while the company continues pursuing its core business in golf simulation technology.
Salt Lake City, Utah, Feb. 27, 2025 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, is pleased to announce that it has engaged Eventus Advisory Group, LLC (“Eventus”) (www.EventusAG.com) to provide financial services advisory and CFO support. Eventus has over 17 years’ experience in working with micro- and small-cap companies and will act as a key advisor to TruGolf as it continues to enhance its financial operations and deliver on the company’s strategic priorities.
Eventus specializes in supporting fast-growing companies and brings a proven track record of helping companies efficiently manage financial operations, technical accounting and SEC compliance issues. This support will help with TruGolf’s transparent communication with shareholders and regulatory bodies.
“We at Eventus are passionate about working with dynamic, high-growth companies like TruGolf,” said Neil Reithinger, Managing Partner of Eventus. “TruGolf has a strong history of delivering innovative golf simulation solutions and is a recognized leader in the space. We are excited to bring our expertise to support their continued success and financial stability.”
Chris Jones, CEO of TruGolf, expressed his confidence in the engagement, stating, “We are incredibly grateful to have Eventus on board. Their history of guiding companies like ours through complex financial landscapes supports our exciting path forward.”
TruGolf is currently working with its Board of Directors to regain compliance with Nasdaq listing requirements. Part of this includes TruGolf’s efforts on working to improve its balance sheet by reducing outstanding liabilities and evaluating other measures to meet Nasdaq’s shareholders’ equity requirements by their March 31, 2025 deadline. The company intends to consider all available alternatives to cure the deficiencies.
Disclaimer on Forward Looking Statements
This news release contains certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute “forward-looking statements” and accordingly, involve estimates, assumptions, forecasts, judgements and uncertainties. Forward-looking statements include, without limitation, the Company’s ability to regain compliance with Nasdaq’s continued listing requirements. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in the Forward Looking Statements and Risk Factors sections of the Company’s S-1 filed with the Securities and Exchange Commission. We do not undertake an obligation to update our forward-looking statements to reflect future events.
About TruGolf, Inc.:
TruGolf is a golf technology company, committed to making golf, easy. From innovative uses for AI to build content and enhanced image and spatial analysis, to gamified golf improvement plans, TruGolf is an industry leader in the growing technological revolution in the sport of golf. Since TruGolf's founding it has redefined what is possible with golf through technology. TruGolf’s suite of Hardware, Software, and Web Products make the game easier to Play, Improve and Enjoy.
About Eventus: Eventus is a CFO advisory firm that specializes in supporting the office of the CFO for public and private companies, with services ranging from accounting, financial operations, technical reporting, regulatory and SEC compliance, audit and IPO preparation, corporate governance and transaction advisory services. Through these service offerings and the experience of the Eventus team, the firm helps businesses navigate complex financial landscapes so that Eventus’ clients can focus on sustainable growth.
| Contact: | www.trugolf.com |
| Michael Bacal | |
| mbacal@darrowir.com | |
| 917-886-9071 |
FAQ
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