{"url_path":"/sec/ugro/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-20","source_url":"https://www.sec.gov/Archives/edgar/data/1706524/0001213900-26-059249-index.html","accession_number":"0001213900-26-059249","cik":"0001706524","ticker":"UGRO","issuer_name":"Flash Sports & Media Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1706524/0001213900-26-059249-index.html","primary_entity_key":"0001706524","primary_entity_name":"urban-gro, Inc."},"word_count":900,"has_tables":true,"body_markdown":"**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, D.C. 20549**\n\n \n\n**FORM 10-Q**\n\n \n\n**☒****QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n** **\n\n**For the quarterly period ended March 31, 2026**\n\n \n\nor\n\n** **\n\n**☐****TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor the transition period from _________ to _________.\n\n \n\n**Commission File Number: 001-39933**\n\n \n\n**urban-gro, Inc.**\n\n(Exact name of registrant as specified in its charter)\n\n \n\n**Delaware**   **46-5158469**\n\n(State or other jurisdiction of\n\nincorporation or organization)   (I.R.S. Employer\n\nIdentification No.)\n\n \n\n**1751 Panorama Point, Unit G**\n\n**Lafayette, CO 80026**\n\n**(720) 390-3880**\n\n(Address of principal executive offices, including\nzip code; Registrant’s telephone number)\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\n**Title of each class**   **Trading Symbol(s)**   **Name of each exchange**\n\nCommon Stock, $0.001 par value   UGRO   NASDAQ Capital Market\n\n \n\nIndicate by check\nmark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject\nto such filing requirements for the past 90 days. Yes ☐ No\n☒\n\n \n\nIndicate by check mark whether the registrant has submitted electronically\nevery Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the\npreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒\nNo ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated\nfiler, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\n\n \n\nLarge accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒\n\n \n\nEmerging growth company ☐\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant\nhas elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant\nto Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as\ndefined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nAs of May 20, 2026, the registrant had 1,317,228 shares of common stock\noutstanding.\n\n \n\n \n\n \n\n \n\n \n\n**TABLE OF CONTENTS**\n\n \n\n \n \n\n**PART I. FINANCIAL INFORMATION**\n \n \n\n \n \n \n\n[Item 1. Financial Statements (Unaudited)](#a_020)\n \n1\n\n \n \n \n\n[Unaudited Condensed Consolidated Balance Sheets](#a_021)\n \n1\n\n \n \n \n\n[Unaudited Condensed Consolidated Statements of Operations](#a_022)\n \n2\n\n \n \n \n\n[Unaudited Condensed Consolidated Statements of Stockholders’ Equity (Deficit)](#a_023)\n \n3\n\n \n \n \n\n[Unaudited Condensed Consolidated Statements of Cash Flows](#a_024)\n \n4\n\n \n \n \n\n[Notes to Unaudited Condensed Consolidated Financial Statements](#a_026)\n \n5\n\n \n \n \n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_028)\n \n26\n\n \n \n \n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#a_029)\n \n31\n\n \n \n \n\n[Item 4. Controls and Procedures](#a_030)\n \n31\n\n \n \n \n\n**PART II. OTHER INFORMATION**\n \n \n\n \n \n \n\n[Item 1. Legal Proceedings](#a_032)\n \n32\n\n \n \n \n\n[Item 1A. Risk Factors](#a_033)\n \n32\n\n \n \n \n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#a_034)\n \n33\n\n \n \n \n\n[Item 3. Defaults Upon Senior Securities](#a_035)\n \n33\n\n \n \n \n\n[Item 4. Mine Safety Disclosures](#a_036)\n \n33\n\n \n \n \n\n[Item 5. Other Information](#a_037)\n \n33\n\n \n \n \n\n[Item 6. Exhibits](#a_038)\n \n33\n\n \n \n \n\n[Signatures](#a_039)\n \n34\n\n \n\ni\n\n \n\n \n\n**CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING\nSTATEMENTS**\n\n \n\nCertain statements contained in this Quarterly Report on Form 10-Q\nconstitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities\nAct”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than\nstatements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the\nuse of words such as “seek,” “anticipate,” “plan,” “continue,” “estimate,” “expect,”\n“may,” “will,” “project,” “predict,” “potential,” “intend,” “could,”\n“should,” “believe,” and variations of such words or their negative and similar expressions.\n\n \n\nThese statements involve estimates, assumptions, known and unknown\nrisks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed in such forward-looking\nstatements. Important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements\ninclude, but are not limited to:\n\n \n\n●our recent merger with Flash Sports & Media, Inc. and our pivot from controlled environment agriculture to the sports, media,\nand experiential marketing industry;\n\n \n\n●our ability to integrate the operations of Flash and IPG FZ, LLC, including the Lanka Premier League Event Rights;\n\n \n\n●our ability to obtain stockholder approval of the conversion of our Series B Non-Voting Convertible Preferred Stock and related corporate\nmatters;\n\n \n\n●substantial doubt about our ability to continue as a going concern;\n\n \n\n●our recurring losses and need for additional capital;\n\n \n\n●our ability to comply with the continued listing standards of the Nasdaq Capital Market;\n\n \n\n●our reliance on dilutive equity and convertible debt financing;\n\n \n\n●the contingent earn-out payable in connection with the IPG acquisition;\n\n \n\n●the seasonality and concentration of revenue from the Lanka Premier League;\n\n \n\n●the regulatory environment for sports rights and broadcasting in Sri Lanka and other markets in which we operate;\n\n \n\n●foreign exchange and other risks associated with operations in the United Arab Emirates, Sri Lanka, and other international jurisdictions;\n\n \n\n●legal proceedings, regulatory inquiries, and tax controversies; and\n\n \n\n●the other factors identified under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31,\n2025.\n\n \n\nForward-looking statements should not be unduly relied upon. We undertake\nno obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as\nrequired by applicable law.\n\n \n\nii\n\n \n\n \n\n**PART I. FINANCIAL INFORMATION**"}