"The Company has until November 28, 2014 to submit to Nasdaq a plan to regain compliance with the Nasdaq rule. The Company has not yet determined the action it will take in response to the letter from Nasdaq."
13 replies (most recent on top)
How on earth can you have no plan on how to handle response when you've had months to prepare it?
They better hurry up
466: Maybe not disclosing a plan IS the plan. If a sale or BK is imminent, no need to file the 10Ks.
473- Go take a look at EDMC's filings before you speak such nonsense.
Do any of you have a degree in business, accounting, operations-anything? If you did you would know that this is typical procedure of a company going off the stock exchange.
This is not about getting delisted, but rather the fact that there is no plan. If Senior management isn't going to comply, why not just say, "We are not going to file a plan." Instead Senior management "has not yet determined the action it will take."
It really makes no difference. Delisting was coming anyway because the stock has been below a dollar. CCi will be gone soon anyway.
Why would CCi care if they get delisted...they are going out of business at the end of the year anyway...that is probably why they didn't file it in the first place hoping (even though hope is not a strategy) that someone would buy their schools before the timer went off. But we all know that is not going to happen. There have been 2 Miami campuses for sale for going on 2 years and no one bought them, have no idea why any body think that they could successfully pull off a sale of the entire company in 6 months.
So..what will Nasdaq do if don't comply? Delist us? Won't change the basic economics. The (bargain basement) value of the company remains the same. I suspect that the sale or bankruptcy of the company will occur before we are prepared to file either of the delinquent 10Ks, hence the non-commital press release.
http://files.shareholder.com/downloads/COCO/3649262215x0x795535/40da838a-dda8-42a2-9514-592feb27a66d/COCO_News_2014_11_19_Corinthian_Colleges.pdf
CRAZY!
OP, you are correct. CCi issued a press release this morning that states, as you have pointed out, that it has until Nov 28 to respond to NASDAQ with a plan to regain compliance. It also states that CCi has not decided what action will be taken. It does not say if or when CCi will act or respond. You can see the press release at CCi's website http://files.shareholder.com/downloads/COCO/3649262215x0x795535/40da838a-dda8-42a2-9514-592feb27a66d/COCO_News_2014_11_19_Corinthian_Colleges.pdf
I've got an idea - file the damn reports already.