Iht receives notice from nyse american; iht operations continue to surge with clean energy prototype approaching

Phoenix, az, nov. 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. the trust is also not eligible for any exemption in section 1003(a) of the company guide from the stockholder's equity requirements. the trust experienced losses related to the covid-19 pandemic over eighteen months as well as recognizing non-cash hotel depreciation expense.
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