The stock of dealership chain Holiday RV Superstores Inc. will be delisted from the Nasdaq SmallCap Market effective Friday (Feb. 21), the company announced after the market closed today (Feb. 20).
Consequently, the company’s stock, most likely, will be quoted on the so-called “pink sheets,” because it did not file its fourth-fiscal-quarter and full-fiscal-year 2002 financial report prior to the Securities & Exchange Commission’s (SEC) deadline.
Failure to file the financial report in time makes Holiday RV stock ineligible for trading, at least for now, on the OTC Bulletin Board.
Holiday RV’s fourth fiscal quarter and full fiscal year 2002 ended Oct. 31, so the company had until Jan. 31 to submit its report to the SEC.
However, in a preliminary report, Holiday RV disclosed that it anticipates reporting a net loss $1.8 million for the August-through-October period and a net loss of $15.7 million for the 12 months ended Oct. 31.
The company estimates its fourth-fiscal-quarter sales revenue amounted to $17.1 million and its full-fiscal-year sales totaled around $78.3 million.
Holiday RV stock closed today at 18 cents a share, down 2 cents for the trading session.