RegulatoryJun 30, 2026, 10:20 PM
InnSuites Hospitality Trust Receives NYSE Non-Compliance Notice
AI Summary
InnSuites Hospitality Trust received a notice from NYSE American for non-compliance with continued listing standards, citing a stockholders' deficit of $(921,921) as of April 30, 2026, and losses in two of its three most recent fiscal years. The company plans to submit a compliance plan by July 24, 2026, aiming to regain compliance by December 24, 2027, through actions like increasing stockholders' equity by $3.0M-$3.3M, converting debt/units to equity, and exploring strategic alternatives. The notice does not immediately affect trading, but a ".BC" indicator will be disseminated.
Key Highlights
- Received NYSE American notice for non-compliance with listing standards.
- Reported stockholders' deficit of $(921,921) as of April 30, 2026.
- Reported losses from continuing operations in two of three most recent fiscal years.
- NYSE American requires $2.0 million stockholders' equity for companies with losses.
- Intends to submit a compliance plan to NYSE American by July 24, 2026.
- Aims to regain compliance with listing standards by December 24, 2027.
- Evaluating actions to increase stockholders' equity by $3.0 million to $3.3 million.
- Combined hotel revenue was $2.9 million for the first four fiscal months of 2027.
- Consolidated Net Income (before non-cash items) was $307,326 for Q1 FY2027.
Price Impact
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