Power REIT Receives Notice Resolving NYSE American Listing Standards Deficiency [Yahoo! Finance]
Power REIT (MD) (PW)
NASDAQ:AMEX Investor Relations:
pwreit.com/?page_id=11
Company Research
Source: Yahoo! Finance
As part of evaluating a plan to comply with the NYSE American listing requirements, the Trust embarked on analysis of the accounting treatment for its Preferred Shares which historically were classified as Mezzanine Equity. Based on its review, the Trust determined that the Preferred Shares should be treated as Equity. The Trust consulted with its Auditors and also retained a qualified third-party consultant to assist with its analysis of the accounting treatment for the Preferred Shares. Ultimately, the Trust concluded that it has incorrectly classified the Preferred Shares on its balance sheet and that they should be treated as Equity (not mezzanine equity) and the financial statements should be restated accordingly. The restatement increases the Trust's Total Equity on its consolidated Balance Sheet to approximately $10 million which is above the threshold required for NYSE American compliance as of June 30, 2024. The change in accounting treatment is non-cash in nature, and does
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News
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
PW
Sec Filings
- 12/10/24 - Form SC
- 10/31/24 - Form 10-Q
- 9/26/24 - Form 8-K
- PW's page on the SEC website