CVU - CPI Aerostructures receives NYSE American delisting determination notification

CPI Aerostructures (NYSE:CVU) received NYSE American notification that it has determined to commence proceedings to delist the company's common stock from the exchange. It also announced the immediate suspension of trading on the exchange. Shares will commence trading on OTC Pink from May 20, 2022 under the symbol, "CVUA". The company is not in compliance with the annual and quarterly report timely filing criteria. "For FY21, we expect to report that we met our financial targets, growing revenue through solid execution of our funded backlog together with improved net income and operating cash flow. With a total backlog of ~$500M as of Dec. 31, 2021 we believe we have ample runway to continue to grow over the long term while remaining profitable and cash flow positive," president & CEO Dorith Hakim commented.

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CPI Aerostructures receives NYSE American delisting determination notification