UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 17, 2021
INNSUITES HOSPITALITY TRUST
(Exact Name of Registrant as Specified in Charter)
| Ohio | 001-07062 | 34-6647590 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
InnSuites Hotels Centre, 1730 E. Northern Avenue, Suite 122 |
||
| Phoenix, AZ | 85020 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
Registrant’s telephone number, including area code: (602) 944-1500
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) |
Name of each exchange on which registered | ||
| Shares of beneficial interest without par value | IHT | NYSE-American |
Item 3.01 Notice of Noncompliance with a Continued Listing Rule or Standard.
On December 31, 2020, Innsuites Hospitality Trust (the “Trust”) received a letter from NYSE Regulation granting an extension to file both the Form 10-Q for the period ended July 31, 2020 and Form 10-Q for the period ended October 31, 2020, until February 15, 2021. Because certain key personnel contracted COVID-19, the Trust was not able to make the necessary filings by February 15, 2021. On February 4, 2021, the Trust requested an extension until April 15, 2021 to cure the delinquency. On February 11, 2021, the Trust received a letter from NYSE Regulation granting an extension until April 15, 2021. The Trust intends to cure the filing delinquency by April 15, 2021.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Press Release of InnSuites Hospitality Trust, dated February 18, 2021. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| InnSuites Hospitality Trust | ||
| By: | /s/ James F. Wirth | |
| James F. Wirth | ||
| Chief Executive Officer | ||
Date: February 17, 2021
Exhibit 99.1
NYSE AMERICAN GRANTS IHT FILING EXTENSION; UNIGEN INVESTMENT PROGRESS
Phoenix, AZ, February 18, 2021 (GLOBE NEWSWIRE) – Insuites Hospitality Trust (IHT) the “trust” (NYSE American; IHT) received notice from NYSE American on December 31, 2020 granting an extension for the Form 10-Q for the period ended July 31, 2020 and Form 10-Q for the period ended October 31, 2020 until February 15, 2021. Because of COVID of key personnel, the Trust was not able to meet the requirements by February 15, 2021. The Trust requested on February 4, 2021, an extension until April 15, 2021 to cure the delinquency. NYSE Rules require that listed companies timely file all periodic reports. The Trust is working diligently to file the delinquent reports as soon as possible and believes IHT that will be able to file the quarterly reports on or before April 15, 2021. The notice from NYSE Regulation has no immediate effect on the listing or trading of the Trust’s shares.
Innsuites Hospitality Trust (IHT) diversification efficient clean energy generation innovation investment in Unigen Power Inc (UPI) continues on budget with a target date of completing the first operational prototype on or before June 30, 2021.
Forward-Looking Statements
With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause IHT’s actual results and future actions to differ materially from those described in forward-looking statements include the uncertain outcome, impact, effects and results of IHT’s review of strategic, operational and structural alternatives, and the risks discussed in IHT’s SEC filings. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties, such as: local, national or international economic and business conditions; competition, loss of membership contracts; effectiveness of IHT’s software program; and other factors. Such uncertainties, and others affecting IHT are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.
Contact:
FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
602-944-1500
email: mberg@innsuites.com