Mesa - today's low .96 cents... so far

[asa rat]

http://finance.yahoo.com/q?s=mesa

 

[erikgigem]

True and Mesa wants to issue more stock to cover their looming debt. Mesa stock closed today at an all time low - 96 cents a share.

SOURCE: FORBES
http://www.forbes.com/feeds/ap/2008/04/08/ap4869002.html

With its $20-million-a-month Delta Air Lines contract in jeopardy, Mesa Air Group Inc. wants shareholders to allow the carrier to issue up to $37.8 million in common stock to pay off its looming debt.

Mesa told shareholders in the securities filing that it needs the flexibility to pay bondholders with stock. Forcing it to use cash right now "would have a material averse effect on the company's financial condition," the company said.

The airline recently has been roughed up by a series of bad news that's drained its cash reserves.
Mesa's new subsidiary go!, an inter-island airline in Hawaii, sparked a price war among competing carriers and reported a $20 million operating loss in the first 16 months of operation.

 

[flyf15]

Down 27% today. Down 61% in the last 5 days.

If this keeps up, they're going to be closing down shortly.

 

[CoATP]

It went to $1 after hours ... that's a 4% increase.

 

[WSurf]

Jeeez, I would think everyone is jumping off the ship now. The water is rising really fast now.

 

[GOULET!]

Damn, up to a $1 after hours...I knew I should have bought 10,000 shares at .96 cents.

 

[asa rat]

I guess "Delisting on the NASDAQ" should be a topic of concern among the Board of Directors.... oh wait we're talking about MESA's Board of Directors, the board that doesn't have a clue.

http://www.nasdaq.com/about/FAQsContinued.stm#6

 

[B.T.Justice]

I guess "Delisting on the NASDAQ" should be a topic of concern among the Board of Directors.... oh wait we're talking about MESA's Board of Directors, the board that doesn't have a clue.

http://www.nasdaq.com/about/FAQsContinued.stm#6

Start the clock! 30 More days of this and they will be delisted!

 

[poorpilot83]

No No no it takes 30 CONSECUTIVE days below $1.00 and then they have 180 days to get it back above $1.00

 

[B.T.Justice]

No No no it takes 30 CONSECUTIVE days below $1.00 and then they have 180 days to get it back above $1.00

Ummmm...thats why I said "start the clock"