View Single Post
Old 04-09-2008, 12:31 PM
  #1  
ITSALLGOOD
Gets Weekends Off
 
Joined APC: Feb 2007
Position: Just happy to be here Boss!
Posts: 200
Default Mesa on the brink of collapse

Today was a terrible day for Mesa. They are in very real danger of collapse.
1. Stock closed at .96. They are officially a penny stock. I could be wrong, but I believe NASDAQ will de-list a company if their stock price goes below $1. Someone please clarify if you know better.

2. They announced they want to sell more stock in order to raise capital. This signifies they are running low on cash and can not raise money in the traditional fashion...loans. See #1.

So if they are strapped for cash and can not get any more credit, they have to sell more shares...That is now virtually impossible if they are de-listed. With Oil still climbing, contracts being lost, an FAA investigation, and another likely judgement against them in the Aloha lawsuit, I don't see how they can survive beyond June.
ITSALLGOOD is offline