Air T Receives Notice of Noncompliance from Nasdaq

8/27/17

By Addison Lalier, NC BIZ News

Air T Inc. has been notified by the Nasdaq stock exchange that it’s no longer in compliance to be listed on the stock exchange because it has not been filing its documents with the Securities and Exchange Commission.

According to the Form 8-K, the company has not yet filed its quarterly report on the Form 10-Q for the period ended June 30, 2017.

Air T has previously received a noncompliance notice from Nasdaq when it failed to file its annual report on the Form 10-K for the year ended March 31, 2017.

According to rules and regulations, the company has until Sept. 18, 2017, to submit a plan to Nasdaq on how it plans to regain compliance with the listing requirements.

If the form is accepted, Nasdaq can grant an exception of up to 180 calendar days from the Form 10-K’s due date to regain compliance. The company cannot file the Form 10-Q until it completes and files the form 10-K.

Established in 1980, Air T is a decentralized holding company with a diversified set of interests. The company currently operates subsidiaries in three industry segments: overnight air cargo, ground equipment sales and ground support services.

Air T shares rose 6 cents to $16.60 by close Friday.

The 8-K filing can be found here.

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