Air T, Inc. (NASDAQ: AIRT) has announced that it has received an anticipated letter from the Listing Qualifications Department of The NASDAQ Stock Market (“NASDAQ”) notifying the company of its noncompliance with NASDAQ Listing Rule 5250(c)(1) because the company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2017 (the “Form 10-Q”), the company said.
The company previously received a notice from NASDAQ with respect to the company´s noncompliance with the same NASDAQ Listing Rule because the company had not yet filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2017 (the “Form 10-K”). The company has not yet filed the Form 10-K.
Under the NASDAQ Listing Rules, the company has until September 18, 2017 to submit a plan to NASDAQ as to how it plans to regain compliance with NASDAQ´s continued listing requirements.
The company intends to regain compliance with NASDAQ´s filing requirements and will file the Form 10âK and the Form 10-Q, as soon as practicable.
Established in 1980, Air T, Inc. is a diversified holding company with four core industry segments: overnight air cargo, aviation ground support equipment manufacturing, aviation ground support maintenance services, and commercial jet engines and parts.