Great Lakes Loses Nasdaq Listing
Nasdaq’s listing qualification panel removed Great Lakes Aviation from its SmallCap Market index on August 14 after denying the airline’s appeal for an exe
Nasdaq’s listing qualification panel removed Great Lakes Aviation from its SmallCap Market index on August 14 after denying the airline’s appeal for an exemption. On August 1 Great Lakes submitted oral and written presentations to the Nasdaq panel, including a financial restructuring plan aimed at returning it to compliance with the market’s listing criteria.
According to its last SEC 10K report, Great Lakes did not meet Nasdaq’s required minimum of $2 million in net assets, $2.5 million in stockholders’ equity or $500,000 in net income for the past fiscal year or two of the three most recent
fiscal years. Further, Great Lakes common stock price of less than $1 disqualifies it from a Nasdaq listing.
