The NYSE’s letter informed the Trust that, to maintain its listing, it must submit a plan of compliance by December 15, 2021, addressing how it intends to regain compliance with the continued listing standards by June 15, 2023, within the maximum potential 18-month plan period available. The Trust experienced losses related to the Covid-19 pandemic over eighteen months as well as recognizing non-cash hotel depreciation expense.

The Trust is also not eligible for any exemption in Section 1003(a) of the Company Guide from the stockholder’s equity requirements.

19, 2021 (GLOBE NEWSWIRE) - InnSuites Hospitality Trust (NYSE American : IHT) received a letter from NYSE American on November 15, 2021, informing the Trust that the staff of the NYSE American Corporate Regulation Department had determined that the Trust was not in compliance with Part 10 of Section 1003(a)(ii) and (iii) of the NYSE American Company Guide due to the Trust having stockholders’ equity of less than $4.0 million, and $6.0 million, respectively, and losses from continuing operations and/or net losses in its five most recent fiscal years ended January 31, 2021.

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