UNITED STATES
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CURRENT REPORT
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Item 8.01. Other Events.
On Wednesday October 13, 2021, urban-gro, Inc. (the “Company”) learned that an unauthorized third party initiated fraudulent wire transfers of approximately $5,100,000 from the Company’s accounts. Approximately $2,100,000 is in the process of being recovered from the recipient banks. The Company has reported the incident to its insurer and expects the Company’s bank, the bank’s insurers or the Company’s insurer to reimburse the Company for the remaining balance, as the Company believes the bank failed to follow proper and industry standard procedures designed to prevent such a theft and is therefore liable for the unrecovered balance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| URBAN-GRO, INC. | ||
| Date: October 19, 2021 | By: | /s/ Bradley Nattrass |
| Bradley Nattrass | ||
| Chief Executive Officer | ||