Nasdaq update on MESA
 

Mesa recieves Nasdaq delisting notice, to report year-end results this week - Pacific Business News (Honolulu):

Delisting notice has been officially sent...:eek:

Mesa Air Group is facing delisting from Nasdaq and will announce its annual results this week.

The parent of interisland carrier go! airlines announced in a filing with the Securities and Exchange Commission Monday that it received a letter from Nasdaq that said the company fails to comply with the filing requirements for continued listing and is subject to delisting.

Phoenix-based Mesa (Nasdaq: MESA) said it has been given 180 days, or until June 29, to regain compliance. Mesa will regain compliance if the bid price for its common stock closes at $1 per share or more for a minimum of 10 consecutive business days.

Mesa stock was at 29 cents in afternoon trading.

The company also announced late last week that it will release its fourth quarter and annual results on Tuesday.

what will happen now?

MESA - Mesa Air Group, Inc. - Google Finance

How will this effect JOs latest attempt to save his Golden Parachute?

Hopefully he gets a Golden Shower, rather than a Golden Parachute.
:D
Either way it's still more than he deserves.

Next article on the same webpage...
 

Mesa Air Group Inc. could be delisted from the Nasdaq Stock Market, but says it is taking action Monday to file its annual report with the U.S. Securities and Exchange Commission.
The Phoenix-based regional air carrier (Nasdaq:MESA) reported Monday that it received a letter from Nasdaq saying it is out of compliance with listing requirements and has 60 days to submit a plan of for meeting those rules.
Mesa said the notice arises from its failure to file its 10-K report for the fiscal year ended Sept. 30 on time and that it intends to file the form later Monday and announce its earnings Tuesday, thus regaining compliance.
Mesa operates 159 aircraft with more than 800 daily departures to 124 cities, 38 states, the District of Columbia, Canada, the Bahamas and Mexico.


Cockroach.

Golden showering JO would be my honor

So they'll have 10 days to get it up to 1.00 or they'll be de-listed?

no, they have 6 months to get it back up to $1 for a MINIMUM of 10 consecutive business days... If they dont do that, THEN they get de-listed

...or if the stock looks like it'll stay at .29, they can do a 10 for 1 reverse stock split and magically make the stock worth 2.90 overnight (for 10 consecutive days of course
). I don't think the NASDAQ/ delisting is that big of a deal....but I don't know, I just drive the bus

Then what was the point of the de-listing 6 months notice they got in mid 08??

You're right, first you have to make money.

got sidelined after the market tanked in Oct. if they went through with Mesa's, then they'd have hundreds of others to process too.

Yeah it will have to be about 100 to 1. They just approved about 800 million more shares so that should dilute the shares to pennies... I'm sure that JO will find some way to screw everyone though... My guess, he drops the stock down to .02 while the bondholders try to cash in and get any bit of money they can, he gets mesa out of its debt obligations and then buys 500 million shares at 2 or 3 cents. Immediately after that MESA announces a company stock buyback making him a billionaire, he then buys delta and American and the entire US aviation system collapses causing a catastrophic worldwide depression and the US is turned into a third world country...

Since Elvis died I just don't care any more!!!

May 6th was the last time Mesa stock was over $1

flyingkangaroo = JO?






Side note: Just because MESA is authorized to issue up to 900M shares doesn't mean they will. MESA can issue anywhere from none to 900M, so the stock price won't actually be diluted until MESA knows the price of the stock the shares will be issued at. The price will be determined on a 5 day average sometime at the end of the month.








OO.

Da mn, how did you know! What you say is true however the shares will def be diluted...

From CNBC:
Jan 13 (Reuters) - Mesa Air Group Inc: * Says received notice of US Airways Group intent to cut one CRJ-200 in January 2009, one in July 2009 and one CRJ-200 in January 2010 * Sees US Airways to continue to further cut number of covered aircraft in accordance with pact - SEC filing * Air's auditor says expressed adverse opinion on co's internal control over financial reporting because of a material weakness ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

OOOOOoooo....U R so busted!:eek:

Not when they are releasing 900million new shares out. Mesa is about to drive the stock to single digits. Knowing JO he'll probably try to sue the SEC lol.

Nose dive!

Q4 2008 Mesa Air Group Earnings Conference Call

the Mesa earnings call just started listen in!

JO high points... Still listening and updating.

"Not the high point of where we are today but the low points we could experience in the future."


"One place we continue to see constant improvement is in Hawaii."

"Aircraft will be coming out of service. We have over 8million in aircraft expense that will be parked. We expect to sublease them to other carriers. We don't expect to pull a profit on this but it will help cut the losses that are already factored in."

"We are planning on moving some of those aircraft to Hawaii."

***********************
"55 at US airways"
"56 at United"
"36 at DAl"
"5 at Hawaii"
"6 are unspoken for"
"10 dash 8's at United"
"6 dash 8's at US Airways"
All of these numbers are from Sept. 30th.

***********************
*What's up with the Aloha lawsuits?
"We have settled the Aloha litigation in it's entirety".

*Are you better spending off 1% of revenue to try and use the Aloha name?
"Yes I think it's very much worth that. It would offset that 1% or more"

*Mukulele isn't expected to be carrying a lot of customers. What's your sense of what's going on with them? How long do you figure they'll last?

"The operation is being funded by RAH. We've done some math and have looked at their loads. They have been historically below 20%. I don't know what they need to operate. Our operation has been stellar since we've started there. People like the service we have to provide. Since MOK's entry we have not seen a drop in load factors. Our advance bookings are much stronger than they were."

*What about the bonds?
"The bond due in Jan is $20mil. The bond in Feb is $72million. These are put values for these stocks."

*As we go look at your $25 million laundry list between gaps and performance what else is outstanding besides the bonds?

"Clearly the bonds will have a big impact on accounting. The China joint venture is an issue we think will be resolved very soon. We've agreed to sell it but the deal doesn't appear to be as we initially structured. We want to get rid of the excess aircraft. We will continue to probably eliminate the 50 seat aircraft from the fleet."

"One large factor is the elimination of the legal budget. We've have large bills in the past that are no longer expected."

Did I read incorrectly, or did I see the word "UNSAFE"?
 

He's talking about finances not aircraft structure.

Thanks, I thought there might have been some sort of safety issues with Mesa somewhere.

It doesn't, or atleast it didn't when I was at United when they were delisted from the Dow.