[SCHEDULE 13D] Monro, Inc. SEC Filing

Rhea-AI Filing Summary

Flora Growth Corp. (FLGC) Q2-25 10-Q highlights:

• Revenue: $14.8 m, -5.7 % YoY; H1-25 $26.6 m, -21 % YoY.
• Gross profit: $2.8 m (19.1 % margin) vs $3.2 m prior year.
• Net loss: Q2 -$2.4 m (-$0.11 EPS) vs -$2.7 m (-$0.21 EPS); H1 -$3.2 m vs -$6.0 m.
• Cash: $1.5 m, down from $6.0 m at 12-31-24; digital assets added ($1.1 m).
• Total assets: $22.7 m (-14 % YTD); current liabilities $13.8 m > current assets $13.2 m.
• Shareholders’ equity: $4.0 m vs $4.5 m YE-24.
• Going concern: substantial doubt; company evaluating cost cuts & new financing.
• Capital actions: May ’25 private placement raised $1.2 m; 726,992 pre-funded warrants issued. 1-for-39 reverse split to cure Nasdaq bid-price deficiency effective 4-Aug-25.
• M&A: Acquired United Beverage Distribution (2-Feb-25) for $2.9 m (cash $0.5 m, stock $0.8 m, notes $2.1 m); goodwill +$2.4 m.
• Deconsolidation: Insolvent European/Canadian subsidiaries removed, recording $1.2 m gain and reducing contingencies.
• Debt: €2.3 m German credit lines (4.8-5.2 %); $2.2 m promissory notes to United sellers (6 %).
• Legal & tax contingencies: $3.2 m provisions (sales tax & lease dispute); additional lawsuit over JustCBD earn-out could add 0.63 m shares.

Key messages: while losses are narrowing and liabilities decreased, liquidity is tight, cash runway limited, and compliance with Nasdaq listing rules depends on the forthcoming reverse split.

Positive

• Net loss halved YoY for H1-25 (-$3.2 m vs -$6.0 m) indicating effective cost reductions.
• Gain of $1.2 m from deconsolidation of insolvent subsidiaries lowered contingent liabilities.
• United Beverage acquisition adds U.S. distribution optionality and $0.5 m cash to the balance sheet.
• Reverse split plan expected to resolve Nasdaq bid-price deficiency and preserve listing.

Negative

• Cash balance only $1.5 m versus $5.6 m H1 operating cash outflow; substantial going-concern doubt.
• Revenue declined 22 % YTD, suggesting demand headwinds across core brands.
• Current liabilities exceed current assets; liquidity ratio below 1.0 creates refinancing pressure.
• Potential dilution from pre-funded warrants, earn-out shares, and 1-for-39 reverse split.
• Legal and tax contingencies of $3.2 m and Nasdaq non-compliance heighten risk profile.

Insights

Sell-side Equity Analyst

TL;DR: Losses narrowing but liquidity critical; reverse split key.

Sequential margin stability and a 47 % YoY cut in H1 net loss show progress on cost control. However, cash fell 76 % to $1.5 m, leaving <1 quarter of operating cash burn and triggering a going-concern warning. New equity ($1.2 m) and digital-asset holdings offer only modest relief. Deconsolidating insolvent units trims liabilities but revenue continues to contract (-22 % YTD) amid cannabis price pressure. Upcoming 1-for-39 reverse split should restore Nasdaq bid compliance but heightens dilution optics (shares ↑67 % YoY pre-split). Investors must watch funding actions, sales trajectory post-United Beverage integration, and resolution of $3.2 m contingencies. Overall risk-skew remains negative.

Credit / Restructuring Specialist

TL;DR: Balance sheet fragile; short-term refinancing risk elevated.

Current liabilities exceed current assets, yielding a 0.96 current ratio; €2.3 m German lines mature inside 12 months. Promissory notes to insiders introduce related-party risk and back-ended cash calls. The $1.1 m crypto position is liquid but volatile. Equity cushion is only $4.0 m against $18.6 m total liabilities; goodwill now 21 % of assets. Management’s cost cuts and asset sales must materialize quickly or further dilutive raises—and possibly covenant breaches—are likely. Impactful, caution warranted.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

MONRO, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

610236101

(CUSIP Number)

DAVID GOLDMAN
191 MASON STREET,
GREENWICH, CT, 06830
914-921-5000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/31/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

GAMCO INVESTORS, INC. ET AL

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 400.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 400.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

400.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

GABELLI FUNDS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 212,400.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 212,400.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

212,400.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

GAMCO Asset Management Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,202,330.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,211,530.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,211,530.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.0 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

GABELLI FOUNDATION, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 46,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 46,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

46,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

MJG ASSOCIATES, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 23,400.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 23,400.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

23,400.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

Teton Advisors, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

GGCP, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

WYOMING

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

Associated Capital Group, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13D

CUSIP No. 610236101

1

Name of reporting person

GABELLI MARIO J

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 400.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 400.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

400.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: MONRO, INC.
(c)	Address of Issuer's Principal Executive Offices: 295 WOODCLIFF DRIVE, SUITE 202, FAIRPORT, NEW YORK , 14450.
Item 2.	Identity and Background
(a)	This statement is being filed by one or more of the following persons: GGCP, Inc. (GGCP), GGCP Holdings LLC (GGCP Holdings), GAMCO Investors, Inc. (GBL), Associated Capital Group, Inc. (AC), Gabelli Funds, LLC (Gabelli Funds), GAMCO Asset Management Inc. (GAMCO), Teton Advisors, LLC (Teton Advisors), Keeley-Teton Advisors, LLC (Keeley-Teton), Gabelli & Company Investment Advisers, Inc. (GCIA), Morgan Group Holding Co., (MGH), G.research, LLC (G.research), MJG Associates, Inc. (MJG Associates), Gabelli Securities International (Bermuda) Limited (GSIL), Gabelli Foundation, Inc. (Foundation), Mario Gabelli, LICT and CIBL. Those of the foregoing persons signing this Schedule 13D are hereinafter referred to as the Reporting Persons.
(b)	GAMCO is a New York corporation and GBL and MGH are Delaware corporations, each having its principal business office at One Corporate Center, Rye, New York 10580. GGCP is a Wyoming corporation and AC and GCIA are Delaware corporations each having its principal business office 191 Mason Street, Greenwich, CT 06830. GGCP Holdings is a Delaware limited liability corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. G.research is a Delaware limited liability company having its principal officers at One Corporate Center, Rye, New York 10580. Gabelli Funds is a New York limited liability company having its principal business office at One Corporate Center, Rye, New York 10580. Teton Advisors is a Delaware limited liability company having its principal place of business at 189 Mason Street, Greenwich, CT 06830. Keeley-Teton Advisors is a Delaware limited liability company having its principal place of business at 141 W. Jackson Blvd., Chicago, IL 60604. MJG Associates is a Connecticut corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. The Foundation is a Nevada corporation having its principal offices at 165 West Liberty Street, Reno, Nevada 89501. LICT is a Delaware corporation having its principal place of business as 401 Theodore Fremd Avenue, Rye, New York 10580. CIBL, Inc. is a Delaware corporation having its principal place of business as 165 West Liberty Street, Suite 220, Reno, NV 89501.
(c)	GGCP makes investments for its own account and is the manager and a member of GGCP Holdings which is the controlling shareholder of GBL and AC. GBL, a public company whose stock is quoted on the OTCQX platform, is the parent company for a variety of companies engaged in the securities business, including certain of those named below. AC, a public company listed on the New York Stock Exchange, is the parent company for a variety of companies engaged in the securities business, including certain of those listed below. GAMCO, a wholly-owned subsidiary of GBL, is an investment adviser registered under the Investment Advisers Act of 1940, as amended (Advisers Act). GAMCO is an investment manager providing discretionary managed account services for employee benefit plans, private investors, endowments, foundations and others. GCIA, a wholly owned subsidiary of AC, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts. As a part of its business, GCIA may purchase or sell securities for its own account. GCIA or its relying advisers, act as a general partner or investment manager of a number of funds or partnerships, including Gabelli Associates Fund, L.P., Gabelli Associates Fund II, L.P., Gabelli Associates Limited, Gabelli Associates Limited II E, Gabelli Intermediate Credit Fund L.P., GAMA Select Plus Master Fund, Ltd., GAMCO Medical Opportunities L.P., and Gabelli Multimedia Partners, L.P. G.research is a wholly owned subsidiary of MGH. G.research, is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (1934 Act), which may as a part of its business purchase and sell securities for its own account. Gabelli Funds, a wholly owned subsidiary of GBL, is a limited liability company. Gabelli Funds is an investment adviser registered under the Advisers Act which provides advisory services for The Gabelli Equity Trust Inc., The Gabelli Asset Fund, The Gabelli Growth Fund, The Gabelli Convertible and Income Securities Fund Inc., The Gabelli Value 25 Fund Inc., The Gabelli Small Cap Growth Fund, The Gabelli Equity Income Fund, The Gabelli ABC Fund, The Gabelli Global Content & Connectivity Fund, The Gabelli Gold Fund, Inc., The Gabelli Multimedia Trust Inc., The Gabelli Global Rising Income & Dividend Fund, The Gabelli Capital Asset Fund, The Gabelli International Growth Fund, Inc., The Gabelli Global Growth Fund, The Gabelli Utility Trust, The Gabelli Utilities Fund, The Gabelli Dividend Growth Fund, The Gabelli Focused Growth and Income Fund, The Comstock Capital Value Fund, The Gabelli Dividend and Income Trust, The Gabelli Global Utility & Income Trust, The GAMCO Global Gold, Natural Resources, & Income Trust, The GAMCO Natural Resources, Gold & Income Trust, The GDL Fund, Gabelli Enterprise Mergers & Acquisitions Fund, The Gabelli ESG Fund, Inc., The Gabelli International Small Cap Fund, The Gabelli Healthcare & Wellness Rx Trust, The Gabelli Global Small and Mid Cap Value Trust, Gabelli Merger Plus+ Trust Plc, The Gabelli Global Financial Services Fund, The Gabelli Global Mini Mites Fund, The Gabelli Media Mogul Fund, The Gabelli Pet Parents Fund, The Gabelli U.S. Treasury Money Market Fund, Bancroft Fund Ltd. and Ellsworth Growth & Income Fund Ltd., Gabelli Growth Innovators ETF, Gabelli Love Our Planet & People ETF, Gabelli Automation ETF, Gabelli Commercial Aerospace & Defense ETF, Gabelli Financial Services Opportunities ETF (collectively, the Funds), which are registered investment companies. Gabelli Funds is also the investment adviser to The GAMCO International SICAV (sub-funds GAMCO Merger Arbitrage and GAMCO All Cap Value), a UCITS III vehicle. Teton Advisors, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The TETON Westwood Mighty Mitessm Fund, The TETON Convertible Securities Fund, The Teton Westwood Balanced Fund, and The TETON Westwood Equity Fund. The TETON Westwood Mighty Mites Fund and the Teton Convertible Securities Fund are subadvised by Gabelli Funds, and their holdings are included in this filing. Keeley-Teton, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The Teton Westwood Smallcap Equity Fund, The Keeley Small Cap Dividend Value Fund, The Keeley Small-Mid Cap Value Fund, and The Keeley Mid Cap Dividend Value Fund, as well as to institutional and individual clients. MJG Associates provides advisory services to private investment partnerships and offshore funds. Mario Gabelli is the sole shareholder, director and employee of MJG Associates. MJG Associates is the Investment Manager of Gabelli International Limited and Gabelli Fund, LDC. Mario J. Gabelli is the general partner of Gabelli Performance Partnership, LP. The Foundation is a private foundation. Mario Gabelli is the Chairman, a Trustee and the Investment Manager of the Foundation. Elisa M. Wilson is the President of the Foundation. LICT is a holding company with operating subsidiaries engaged primarily in the rural telephone industry. LICT actively pursues new business ventures and acquisitions. LICT makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is the Chief Executive Officer, a director, and substantial shareholder of LICT. CIBL is a holding company with interest in telecommunications operations, primarily in the rural telephone industry. CIBL actively pursues new business ventures and acquisitions. CIBL makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of CIBL. Mario Gabelli is the controlling stockholder, co-Chief Executive Officer and a director of GGCP and Chairman and Chief Executive Officer of GBL. He is the Executive Chairman of AC. Mario Gabelli is also a member of GGCP Holdings. Mario Gabelli is the controlling shareholder of MGH and indirectly of Teton Advisors and Keeley-Teton Advisors.
(d)	Not applicable.
(e)	Not applicable.
(f)	United States.
Item 3.	Source and Amount of Funds or Other Consideration
	The Reporting Persons used an aggregate of approximately $36,433,939 to purchase the Securities reported as beneficially owned in Item 5. GAMCO and Gabelli Funds used approximately $29,606,679 and $4,793,479, respectively, of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the Securities for such clients. Foundation used approximately $974,494 of working capital to purchase the Securities reported by it. GBL used approximately $8,314 of working capital to purchase the Securities reported by it. MJG Associates used approximately $920,144 of client funds to purchase the Securities reported by it. Mario Gabelli used approximately $6,304 of private funds to purchase the Securities reported by it. Teton used approximately $124,524 of client funds to purchase the Securities reported by it.
Item 4.	Purpose of Transaction
	Each of the Reporting Persons has purchased and holds the Securities reported by it for investment for one or more accounts over which it has shared, sole, or both investment and/or voting power, for its own account, or both. The Reporting Persons are engaged in the business of securities analysis and investment. The Reporting Persons analyze the operations, capital structure and markets of companies in which they invest, including the Issuer, on a continuous basis through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies (often at the invitation of management). As a result of these analytical activities one or more of the Reporting Persons may issue analysts reports, participate in interviews or hold discussions with third parties, with management or with Directors in which the Reporting Person may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder values. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D including, without limitation, such matters as disposing of one or more businesses, selling the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting, certain types of anti-takeover measures and restructuring the company capitalization or dividend policy. Each of the Reporting Persons intends to adhere to the foregoing investment philosophy with respect to the Issuer. However, none of the Reporting Persons intends to seek control of the Issuer or participate in the management of the Issuer, and any Reporting Person that is registered as an investment company under the Company Act will participate in such a transaction only following receipt of an exemption from the SEC under Rule 17d-1 under the Company Act, if required, and in accordance with other applicable law. In pursuing this investment philosophy, each Reporting Person will continuously assess the Issuers business, financial condition, results of operations and prospects, general economic conditions, the securities markets in general and those for the Issuers securities in particular, other developments and other investment opportunities, as well as the investment objectives and diversification requirements of its shareholders or clients and its fiduciary duties to such shareholders or clients. Depending on such assessments, one or more of the Reporting Persons may acquire additional Securities or may determine to sell or otherwise dispose of all or some of its holdings of Securities. Although the Reporting Persons share the same basic investment philosophy and although most portfolio decisions are made by or under the supervision of Mario Gabelli, the investment objectives and diversification requirements of various clients differ from those of other clients so that one or more Reporting Persons may be acquiring Securities while others are disposing of Securities. With respect to voting of the Securities, the Reporting Persons have adopted general voting policies relating to voting on specified issues affecting corporate governance and shareholder values. Under these policies, the Reporting Persons generally vote all securities over which they have voting power in favor of cumulative voting, financially reasonable golden parachutes, one share one vote, management cash incentives and pre-emptive rights and against greenmail, poison pills, supermajority voting, blank check preferred stock and super-dilutive stock options. Exceptions may be made when management otherwise demonstrates superior sensitivity to the needs of shareholders. In the event that the aggregate voting position of all Reporting Persons exceeds 25% of the total voting position of the Issuer, one or more of the filing persons may transfer voting and/or dispositive power over shares to independent committees of directors or the owners of such shares. Such committees vote and/or consider disposition of such shares independently of the Reporting Persons. Each of the Covered Persons who is not a Reporting Person has purchased the Securities reported herein as beneficially owned by him for investment for his own account or that of one or more members of his immediate family. Each such person may acquire additional Securities or dispose of some or all of the Securities reported herein with respect to him. Other than as described above, none of the Reporting Persons and none of the Covered Persons who is not a Reporting Person has any present plans or proposals which relate to or would result in any transaction, change or event specified in clauses (a) through (j) of Item 4 of Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate number of Securities to which this Schedule 13D relates is 1,502,130 shares, representing 5.01% of the 29,978,942 shares outstanding as reported by the Issuer in their most recently filed Form 10-Q for the quarterly period ended June 28, 2025. The Reporting Persons beneficially own those Securities as follows: GAMCO 1,211,530 shares 4.04%, Gabelli Funds 212,400 shares 0.71%, Foundation 46,000 shares 0.15%, GBL 400 shares 0.00%, MJG Associates 23,400 shares, 0.08%, Mario Gabelli 400 shares 0.00% and Teton Advisors 8,000 shares 0.03%.
(b)	Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have authority to vote 9,200 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Funds shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons.
(c)	Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth below: DATE SHARES PURCHASED PRICE /SOLD GABELLI FOUNDATION, INC. 7/7/2025 1,000 15.7800 6/30/2025 1,000 14.5800 6/26/2025 4,000 13.6600 6/25/2025 4,000 14.1825 6/11/2025 4,000 16.1923 6/4/2025 500 15.9500 GABELLI FUNDS, LLC GABELLI ASSET FUND 7/16/2025 3,000 14.6622 GABELLI DIVIDEND & INCOME TRUST 7/16/2025 3,000 14.6622 GABELLI GLOBAL SMALL & MIDCAP VALUE TRUST 6/23/2025 200 14.3250 6/13/2025 1,500 14.5800 GABELLI SMALL CAP GROWTH FUND 7/17/2025 8,000 14.8800 7/10/2025 2,000 15.8350 6/30/2025 8,000 14.7031 6/20/2025 1,500 14.2030 GAMCO ASSET MANAGEMENT INC. 7/31/2025 3,700 12.9232 7/31/2025 3,000 12.9800 7/31/2025 16,900 13.1201 7/30/2025 50 12.7216 7/30/2025 400 13.0232 7/30/2025 10,000 13.1992 7/30/2025 4,000 13.5117 7/30/2025 11,200 13.6312 7/30/2025 1,500 13.7700 7/30/2025 500 13.8291 7/30/2025 2,000 13.8434 7/30/2025 400 15.5987 7/30/2025 200 15.5987 7/28/2025 -1,000 16.0000 7/24/2025 2,000 15.9800 7/23/2025 15 16.6440 7/22/2025 200 15.4416 7/22/2025 1,200 15.4560 7/18/2025 1,200 14.6400 7/18/2025 5,000 14.6784 7/18/2025 5,000 14.6927 7/18/2025 3,000 14.9500 7/17/2025 -100 14.8217 7/17/2025 541 14.8386 7/17/2025 700 14.8440 7/17/2025 2,900 14.8648 7/16/2025 800 14.6400 7/16/2025 8,459 14.9650 7/16/2025 100 15.0500 7/15/2025 6,000 15.4246 7/15/2025 500 15.8100 7/11/2025 3,500 15.8000 7/11/2025 1,000 15.9200 7/11/2025 1,000 15.9200 7/11/2025 -500 16.0000 7/10/2025 3,500 15.8000 7/10/2025 11,200 16.2993 7/9/2025 200 15.4800 7/9/2025 3,500 15.5475 7/8/2025 2,200 15.7948 7/8/2025 25 15.8014 7/8/2025 50 15.8185 7/8/2025 25 15.8885 7/7/2025 400 16.0250 7/7/2025 6,800 16.0588 7/7/2025 500 16.1715 7/3/2025 7,300 16.6955 7/2/2025 400 15.9600 7/2/2025 1,260 16.0419 7/2/2025 100 16.1200 7/2/2025 5,000 16.2309 7/2/2025 5,500 16.4455 7/2/2025 8,000 16.4817 7/2/2025 500 16.5000 7/2/2025 240 16.5100 7/1/2025 10,000 16.1085 6/30/2025 10,000 14.6035 6/30/2025 6,700 14.6403 6/27/2025 3,000 13.9000 6/27/2025 150 14.1465 6/27/2025 6,250 14.3382 6/27/2025 400 14.3500 6/26/2025 300 13.7700 6/26/2025 -300 13.8282 6/26/2025 6,100 13.8370 6/25/2025 200 13.8197 6/25/2025 500 13.9600 6/24/2025 1,400 14.5500 6/23/2025 350 14.0000 6/23/2025 4,200 14.3107 6/23/2025 1,500 14.3188 6/23/2025 3,000 14.3250 6/23/2025 5,100 14.4151 6/23/2025 -200 14.7864 6/20/2025 1,500 14.0400 6/20/2025 500 14.0648 6/20/2025 6,200 14.1579 6/20/2025 800 14.2012 6/18/2025 500 14.3402 6/17/2025 4,000 14.5256 6/17/2025 1,500 14.5957 6/16/2025 1,900 14.7153 6/13/2025 500 14.6500 6/13/2025 2,600 15.1256 6/12/2025 2,200 15.5435 6/12/2025 500 15.5754 6/12/2025 1,000 15.6644 6/11/2025 4,200 15.8839 6/11/2025 400 15.9165 6/11/2025 5,000 16.1760 6/11/2025 7,000 16.1863 6/11/2025 500 16.2000 6/10/2025 4,100 16.8016 6/10/2025 600 16.8900 6/10/2025 -200 17.0500 6/9/2025 500 17.1850 6/9/2025 1,200 17.3067 6/6/2025 300 15.9991 6/5/2025 1,600 15.8733 6/4/2025 -500 15.9203 6/4/2025 4,800 15.9470 6/4/2025 2,000 15.9781 6/3/2025 1,500 15.4000 6/2/2025 4,600 15.2061 5/30/2025 300 16.0498 MJG ASSOCIATES, INC. GABELLI INTERNATIONAL LIMITED 7/30/2025 3,000 13.6992 GABELLI PERFORMANCE PARTNERS 7/15/2025 -3,000 15.3190 6/12/2025 3,000 15.5541 GABELLI FUND, LDC 6/9/2025 400 17.3145 MARIO J. GABELLI 7/1/2025 200 15.0103 6/9/2025 200 16.5100 TETON ADVISORS, INC. 7/16/2025 3,000 14.7625 7/11/2025 5,000 16.0473
(d)	The investment advisory clients of, or partnerships managed by, GAMCO, Gabelli Funds, Teton Advisors and MJG Associates have the sole right to receive and, subject to the notice, withdrawal and/or termination provisions of such advisory contracts and partnership arrangements, the sole power to direct the receipt of dividends from, and the proceeds of sale of, any of the Securities beneficially owned by such Reporting Persons on behalf of such clients or partnerships. Except as noted, no such client or partnership has an interest by virtue of such relationship that relates to more than 5% of the Securities.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The powers of disposition and voting of Gabelli Funds, Teton Advisors, GAMCO, GCIA and MJG Associates with respect to Securities owned beneficially by them on behalf of their investment advisory clients, and of MJG Associates and GCIA with respect to Securities owned beneficially by them on behalf of the partnerships or corporations which they directly or indirectly manage, are held pursuant to written agreements with such clients, partnerships and funds.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

GAMCO INVESTORS, INC. ET AL

Signature:	PETER D. GOLDSTEIN
Name/Title:	GENERAL COUNSEL
Date:	08/01/2025

GABELLI FUNDS LLC

Signature:	DAVID GOLDMAN
Name/Title:	GENERAL COUNSEL
Date:	08/01/2025

GAMCO Asset Management Inc.

Signature:	DOUGLAS R. JAMIESON
Name/Title:	PRESIDENT
Date:	08/01/2025

GABELLI FOUNDATION, INC.

Signature:	DAVID GOLDMAN
Name/Title:	ATTORNEY-IN-FACT
Date:	08/01/2025

MJG ASSOCIATES, INC.

Signature:	DAVID GOLDMAN
Name/Title:	ATTORNEY-IN-FACT
Date:	08/01/2025

Teton Advisors, Inc.

Signature:	DAVID GOLDMAN
Name/Title:	COUNSEL
Date:	08/01/2025

GGCP, INC.

Signature:	DAVID GOLDMAN
Name/Title:	ATTORNEY-IN-FACT
Date:	08/01/2025

Associated Capital Group, Inc.

Signature:	PETER D. GOLDSTEIN
Name/Title:	CHIEF LEGAL OFFICER
Date:	08/01/2025

GABELLI MARIO J

Signature:	DAVID GOLDMAN
Name/Title:	ATTORNEY-IN-FACT
Date:	08/01/2025

FAQ

Why did FLGC's revenue fall in Q2 2025?

Revenue slid 5.7 % YoY to $14.8 m due to softer sales in core cannabis and wellness brands and loss of contributions from deconsolidated subsidiaries.

How much cash does Flora Growth have after Q2 2025?

Cash and restricted cash totaled $1.5 m, down from $6.0 m at year-end 2024.

What is the status of FLGC’s Nasdaq listing?

The company received a bid-price deficiency notice and plans a 1-for-39 reverse split on 4 Aug 2025 to regain compliance.

What impact did the United Beverage acquisition have?

Closed 2 Feb 2025 for $2.9 m; added $0.5 m cash, $0.4 m revenue, and $2.4 m goodwill; funded partly with $2.1 m related-party notes.

Why is there a going-concern warning?

Management projects current cash is insufficient for 12 months; additional funding, cost cuts, or asset sales are required.

How diluted are current shareholders?

Shares outstanding rose to 22.6 m (pre-split) vs 18.5 m YE-24; further potential from 0.73 m pre-funded warrants and other convertibles.