Mesa gets stock-delisting notice
Mesa Air Group Inc., the parent of interisland carrier go!, said today it received a Nasdaq staff determination letter on Wednesday notifying it that the company's stock will be delisted unless the bid price for its shares closes at $1 or higher for a minimum of 10 consecutive days before Dec. 15.
The Phoenix-based carrier, which also is facing delisting for being delinquent on filing its quarterly earnings with the Securities and Exchange Commission, said it received the latest delisting notice from Nasdaq because its stock has closed below $1 for 30 consecutive business days.
Mesa said if its stock does not regain compliance by Dec. 15 that it intends to request a hearing before a Nasdaq listing qualifications panel to review the delisting notice.
A company spokesman said that its fiscal second-quarter earnings, which were due to be filed in mid-May, are expected to come out next week.
Mesa said in a SEC filing last month that it expects to report a profit in the quarter ended March 31 due to certain nonrecurring charges.