Power REIT Resolves NYSE Compliance Issue, Ensures Listing Standards

An announcement from Power REIT ( (PW) ) is now available.

Power REIT successfully resolved an equity compliance issue with the NYSE American by reclassifying its Preferred Shares from Mezzanine Equity to Equity, raising its total equity to approximately $10 million, surpassing the required $2 million threshold. The adjustment, detailed in a filed Form 10-Q/A and a subsequent press release, was a non-cash accounting change that did not impact the company’s revenue or net income. Following the restatement, the NYSE American rescinded the Deficiency Letter, reaffirming Power REIT’s compliance with listing standards.

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