Ashford Inc (AINC stock) surged 38.20% to $8.14 in the morning session on no news or update; however, the Company announced on November 3, 2020, that the American Stock Exchange (NYSE) had accepted the Company’s compliance plan for continued listing.
NYSE American notified the Company on August 26, 2020, that the Company was not in compliance with its continued listing requirements under the NYSE American Company Guide.
Notably, the letter stated that the Company did not comply with Sections 1003(a)(i) and 1003(a)(ii) of the Company Guide, allowing the listed Company to have shareholder equity of I at least $2.0 million if it announced losses from continuing operations or net losses in two of its most recent fiscal years and (ii) at least $4.0 million if it reported losses from cont.
By September 25, 2020, the Company must submit a plan detailing its plan to regain compliance under Section 1003(a)(i) and (ii) of the Company Guide by February 26, 2022, or sooner if the stock market deems it necessary. A plan was submitted before the deadline.
On October 29, 2020, the Company received notification from NYSE American that the plan had been accepted, and a period until the end of February 26, 2022, was granted. A quarterly review will occur during the plan period to determine if the Company is progressing according to the plan.NYSE American will terminate the Company’s listing if it does not regain compliance with the listing requirements by the NYSE Ame