American Spectrum Realty Form 10-Q and NYSE Plan of Compliance
29 Maio 2014 - 11:31AM
Business Wire
American Spectrum Realty, Inc. (NYSE/MKT: AQQ) – a real estate
investment management and leasing company – today announced a delay
in the filing of the Company's Form 10-Q for the quarter ended
March 31, 2014 (the "Q1 2014 10-Q") and the receipt by the Company
of correspondence from NYSE MKT LLC (the "Exchange") advising the
Company that it is not in compliance with certain of the Exchange's
continued listing standards.
On March 31, 2014, the Company filed a Form 12b-25 with the
Securities and Exchange Commission disclosing that it was unable to
file with the SEC its annual report on Form 10-K for the year ended
December 31, 2013 (the "2013 10-K") by April 1, 2014 and
that it expected to file its annual report as soon as practicable.
In the 12b-25 the Company disclosed, among other things that, as a
result of the departure of the Company's Chief Financial Officer,
the Company is working with its accountants and consultants and
reviewing its financial records, including journal entries and
account balances related to the Company's financial statements for
the period ended December 31, 2013. In addition, the Company
disclosed that the Company and its consultants are continuing to
evaluate the purchase price allocation and disclosures related to
the transaction reported in the 8-K filed on January 7, 2014 (the
"Purchase Price Allocation Issue"). On April 16, 2014, the Company
received correspondence from the Exchange advising the Company that
it was not in compliance with the continued listing standards of
the Exchange as a result of the failure to timely file the 2013
10-K. The Company submitted to the Exchange on April 30, 2014 a
plan of compliance (the "Plan") setting forth the steps intended to
be taken by the Company to regain compliance with the NYSE MKT
Company Guide no later than July 15, 2014.
The Company continues to work diligently to review its financial
records and resolve the Purchase Price Allocation Issue, continues
to work towards compliance with the Plan and intends to file the
2013 10-K and Q1 2014 10-Q as soon as practicable.
ABOUT AMERICAN SPECTRUM REALTY, INC.
American Spectrum Realty, Inc. is a real estate investment
company that owns, through an operating partnership, interests in
office, industrial, retail, self-storage, RV parks, retail,
multi-family properties and undeveloped land throughout the United
States. American Spectrum Management Group, Inc., a wholly-owned
subsidiary of the Company, manages and leases all properties owned
by American Spectrum Realty, Inc. as well as for third-party
clients totaling 10 million square feet in multiple states.
Website: www.asrmanagement.com
FORWARD LOOKING STATEMENTS
Certain matters discussed in this release are forward-looking
statements that are subject to risks and uncertainties that could
cause actual results to differ materially from those projected,
including the risks and uncertainties of acquiring, owning,
operating and disposing of real estate. Such risks and
uncertainties are disclosed in the Company's past and current
filings with the U.S. Securities and Exchange Commission.
American Spectrum Realty, Inc.James Hurn, (713) 706-6200General
Counseljhurn@americanspectrum.com
American Spectrum (AMEX:AQQ)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
American Spectrum (AMEX:AQQ)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024