Before the news broke about the bankruptcy filing, the stock was trading at 51¢ but at the close of trading yesterday fell 27% to land finally at 37¢. The value of the stock is getting slimmer by the day.
Source: NASDAQ Unusual Volume: Premier Exhibitions Inc. (benchmarkmonitor.com, 15 June 2016)
NASDAQ recently sent a letter of non-compliance to Premier Exhibitions (NASDAQ:PRXI) regarding the recent director resignations. Specifically they are out of compliance with the audit committee requirements which require the audit committee be comprised of three independent directors. They have to resolve it either at the next annual shareholder’s meeting or by 27 Aug 2015. However if the annual shareholders meeting is held before 23 Feb 2015, then they must show compliance on that date. Four directors resigned on 25 Aug 2014 and were replaced by Jack H. Jacobs and Rick Kraniak on the same day.
Sources:
1. Worth Watching Stocks : Medtronic….(19 Sep 2014, Wall Street Scope)
2. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or S (16 Sep 2014, Yahoo! Finance)
