U.S. Global Investors Shares Optimism for Airline and Gold Sectors into Year-End, Receives Expected Nasdaq Notice Regarding Late Filing of Form 10-Q
22 Novembro 2023 - 6:05PM
U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a
registered investment advisory firm with longstanding experience in
global markets and specialized sectors, today shares its positive
outlook for two primary sectors of its investment offerings,
airlines and gold, as shareholders head into year-end.
The American Automobile Association (AAA) projects a significant
increase in Thanksgiving travel this year with 55.4 million
travelers expected, positioning the U.S. to witness the
third-highest Thanksgiving forecast since AAA began tracking
holiday travel back in 2000.
“The projection from AAA also specifically points out that the
number of air travelers is on the rise this year, which is positive
news for our biggest product, our airline ETF,” says Frank Holmes,
CEO and Chief Investment Officer. “In fact, 4.7 million people are
expected to fly over the Thanksgiving holiday this week. I believe
the enthusiasm to travel will remain strong through the holiday
months and even into 2024, signaling a return to normalcy
post-pandemic, but also hinting at growing consumer
confidence.”
The global gold market has also witnessed a notable upward trend
in prices in 2023, and the Company notes several factors
contributing to the run up. Economic uncertainties and geopolitical
tensions, for example, have heightened investor anxiety, prompting
a shift toward historically safe-haven assets like gold. In
addition, central bank policies, including accommodative monetary
measures, have played a role.
“Investors are seeking stability in an increasingly volatile
global economic landscape, a landscape we don’t see changing
drastically anytime soon. This has turned people’s attention to
gold,” Holmes continues. “At U.S. Global, we offer several options
for investors to take advantage of gold’s status as a store of
value. I believe these remain a sound way to gain exposure to the
yellow metal through mining and royalty names without the need for
physical ownership.”
Expected Nasdaq Notice Regarding Late Filing
On November 16, 2023, the Company received a standard
notification letter (the “Nasdaq notice” or “notice”) from the
Nasdaq Listing Qualifications Department of Nasdaq notifying the
Company that it remains out of compliance with Nasdaq Listing
Rules, which requires timely filing of all required financial
reports with the U. S. Securities and Exchange Commission (“SEC”),
for failing to file its Form 10-Q for the quarter ended September
30, 2023 (the “Quarterly Report”) within the prescribed
timeframe.
The Nasdaq notice has no immediate impact on the listing or
trading of the Company’s common stock on the Nasdaq Capital
Market. The notice provides that the Company has until
December 15, 2023, to submit a plan to regain compliance with
respect to delinquent reports. Any Staff exception to allow the
Company to regain compliance, if granted, will be limited to a
maximum of 180 calendar days from the due date of the Initial
Delinquent Filing, or April 10, 2024.
As previously disclosed, the Company’s filing of the Annual
Report on Form 10-K for the fiscal year ended June 30, 2023 (the
“Form 10-K”) was delayed due to the additional time needed related
to the determination of whether an establishment of a reserve for
certain taxes was required. The Company filed the Form 10-K
on November 16, 2023. The delayed filing of the Form 10-K had the
effect of decreasing the time available for the Company to prepare
and finalize its Quarterly Report. The Company is working
diligently to complete the necessary work to file its Quarterly
Report.
This announcement is made in compliance with the Nasdaq Listing
Rule 5810(b), which requires prompt disclosure of receipt of a
notification of deficiency.
About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years
when it began as an investment club. Today, U.S. Global Investors,
Inc. (www.usfunds.com) is a registered investment adviser that
focuses on niche markets around the world. Headquartered in San
Antonio, Texas, the Company provides investment advisory services
to U.S. Global Investors Funds and U.S. Global ETFs.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including with respect to the Company’s anticipated filing of
the Form 10-Q. No assurance can be given that the Form 10-Q will be
filed within a certain period, or that Nasdaq will continue to list
the Company’s Class A common stock. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including, without limitation, those risks
and uncertainties described in our annual report on Form 10-K for
the fiscal year ended June 30, 2023, and our other reports and
filings with SEC. Copies of these documents are available on the
SEC’s website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
US Global Investors (NASDAQ:GROW)
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