secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001104659-24-026526
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T fails Nasdaq minimum $10M stockholders' equity; must submit plan by April 1
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- Received Nasdaq deficiency letter on Feb 15, 2024 for failing minimum stockholders' equity of $10,000,000.
- Also fails alternative standards under Nasdaq Listing Rules 5450(b)(2) and (b)(3) for publicly held shares.
- Company blames stock buybacks for reducing equity and publicly held shares.
- Has until April 1, 2024 to submit compliance plan; possible extension to August 13, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000110465924026526/0001104659-24-026526-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000110465924026526/tm246752d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-026526

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