IHT RECEIVES NOTICE FROM NYSE AMERICAN 

Rhea-AI Summary

InnSuites Hospitality Trust (NYSE American: IHT) received a notice from NYSE Regulation on July 1, 2020, indicating non-compliance with continued listing standards due to the failure to file its Annual Report on Form 10-K for the year ending January 31, 2020. The Trust is actively working to submit the delinquent report and expects to file it by July 20, 2020. The NYSE notice does not currently affect the trading of IHT shares.

Positive

• Trust is actively working to file the Annual Report before July 20, 2020.

Negative

• Non-compliance notice from NYSE Regulation due to the delayed filing of the Annual Report.

Phoenix, AZ, July 10, 2020 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT), which owns and operates hotels, and provides management services for hotels, received notice from NYSE Regulation on July 1, 2020 that the Trust is not in compliance with continued listing standards of NYSE American Exchange because IHT has not yet filed its Annual Report on Form 10-K for the year ended January 31, 2020. NYSE Rules require that listed companies timely file all periodic reports. The Trust is working diligently to file the delinquent report as soon as possible, has contacted NYSE Regulation, and now believes that it will be able to file the annual report on or before July 20, 2020. The notice from NYSE Regulation has no immediate effect on the listing or trading of the Trust’s shares.

Forward-Looking Statements

With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause IHT’s actual results and future actions to differ materially from those described in forward-looking statements include the uncertain outcome, impact, effects and results of IHT’s review of strategic, operational and structural alternatives, and the risks discussed in IHT’s SEC filings. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties, such as: local, national or international economic and business conditions; competition, loss of membership contracts; effectiveness of IHT’s software program; and other factors. Such uncertainties, and others affecting IHT are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.

Contact:

FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
602-944-1500
email: mberg@innsuites.com

FAQ

What is the status of InnSuites Hospitality Trust's Annual Report for 2020?

The Trust is expected to file its Annual Report on Form 10-K by July 20, 2020.

Did InnSuites Hospitality Trust receive any notices from NYSE Regulation?

Yes, on July 1, 2020, IHT received a notice for non-compliance with continued listing standards.

How does the NYSE notice affect IHT's stock trading?

The notice does not currently affect the listing or trading of IHT shares.

What is the date of InnSuites Hospitality Trust's Annual Report deadline?

The deadline for filing the Annual Report is July 20, 2020.