IHT TO ANNOUNCE POSITIVE FISCAL YEAR OPERATING RESULTS SHORTLY, WITH 10-K FILING DELAYED

Rhea-AI Summary

InnSuites Hospitality Trust (NYSE: IHT) announced it will soon report its Fiscal Year 2022 results and Q1 2023 revenues. The Trust received a notification from the NYSE Regulation regarding a failure to timely file its Form 10-K annual report, leading to a noncompliance notice. This delay was due to challenges in obtaining and reviewing the necessary information. The Trust is working to file the report shortly while maintaining compliance with NYSE guidelines.

Positive

• Intends to file Annual Report on Form 10-K shortly.

Negative

• Received notice of noncompliance with NYSE listing standards due to delayed filing of Form 10-K.

Phoenix, AZ, May 26, 2022 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) will be reporting shortly Results for Fiscal Year 2022 (February 1, 2021, to January 31, 2022), as well as solid revenues for Q1 of 2023 (February 1, 2022, to April 30, 2022).

On May 18, 2022, the Trust received a letter from the NYSE Regulation Department, informing the Trust it had not timely filed its annual report with the Securities and Exchange Commission (the “SEC”) pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Accordingly, the NYSE Regulation’s official notice of noncompliance with NYSE American continued listing standards (“Filing Delinquency Notification”), was received. The Trust is now subject to the procedures and requirements set forth in Section 1007 of the NYSE American Company Guide (the “Company Guide”). The Issuer failed to timely file its Form 10-K for the Fiscal Year ended January 31, 2022 (the “Delinquent Report”) by the filing due date.

The Trust has furnished its Current Report on Form 8-K by the deadline imposed by the NYSE American Regulation Department accordingly. The Registrant could not complete the filing of its Annual Report on Form 10-K for the fiscal year ended January 31, 2022, due to a delay in obtaining, compiling, and reviewing the information required to be included in its Annual Report on Form 10-K, which delay could not be eliminated by the Registrant without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, the Registrant issued notice regarding this delay previously. The Trust intends to file its Annual Report on Form 10-K shortly. Notice has also been given to the NYSE American Regulation Department.

For more information, visit www.innsuitestrust.com and www.innsuites.com.

Forward-Looking Statements

With the exception of historical information, matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. 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.

FOR FURTHER INFORMATION:

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

INNSUITES HOTEL CENTRE
1730 E. NORTHERN AVENUE, #122
Phoenix, Arizona 85020
Phone: 602-944-1500

FAQ

What financial results will InnSuites Hospitality Trust report for FY 2022?

InnSuites Hospitality Trust will report results for Fiscal Year 2022, covering the period from February 1, 2021, to January 31, 2022.

What caused the delay in filing the annual report for InnSuites Hospitality Trust?

The delay was due to the Trust's challenges in obtaining, compiling, and reviewing the necessary information for its Annual Report on Form 10-K.

What is the current status of compliance for InnSuites Hospitality Trust?

InnSuites Hospitality Trust is currently subject to noncompliance procedures with NYSE American due to the delayed filing of its Form 10-K.

When is InnSuites Hospitality Trust expected to file its Form 10-K?

The Trust intends to file its Annual Report on Form 10-K shortly.