Honolulu Advertiser mentions MESA may be de-listed by Nasdaq
In a filing with the Securities and Exchange Commission yesterday, Mesa disclosed that it may be subject to delisting by the Nasdaq stock exchange for not filing its year-end and quarterly financials on schedule.
Last month, Mesa said it will delay the filing of its financials until Jan. 15 due to complications over its reviews of estimates and reserves.
Brian Gillman, Mesa executive vice president and general counsel, said he anticipates that the company will file its financials with the SEC on or by Jan. 15, or well before any delisting proceeding.
Shares of Mesa closed at $2.70 on the Nasdaq market, which was up 2 cents from Thursday’s close. Since the June 9, 2006, launch of go!, Mesa’s shares have fallen more than 69 percent and the company’s market capitalization has dropped by more than $179 million.
The true cost of go!
69% drop in market capitalization = $179 MILLION
Losing to Hawaiian in court = $90 Million
Total actual CASH LOSS so far (NO LESS THAN) = $269 MILLION
- Delisting by NASDAQ next?
- Interest on bond of $175K a month
- Any further new business will be considered a “risk” by potential investors
- Even go!’s only codeshare Mokulele, now shuns Mesa and is repainting their Caravans in expectation of the inevitable.
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