![]() Rick Calder, CEO from May 2007, left the company in June 2020. New CFO Steven Berns stepped down from the role in December 2020, though he had been with the company only nine months. Dan Fraser, who joined in April 2014 as senior VP, principal accounting officer and global corporate controller, spent a short time as interim CFO and left entirely in September 2020. ![]() Mike Sicoli, CFO from April 2015, left the company in September 2019. In August 2020 GTT said it had “identified certain issues related to the recording and reporting of cost of telecommunications services and related internal controls” – a rather surprising admission for a company that has specialised in providing telecoms services since 1998. “The company is no longer suitable for listing because the company is delayed in filing with the Securities and Exchange Commission its quarterly reports on Form 10-Q for the quarters ended June 30, 2020, Septemand Maand annual report on Form 10-K for the fiscal year ended December 31, 2020.” The main reason for the delisting, said the NYSE, was that it has failed to file its quarterly and annual results. The NYSE told the US financial regulator, the Securities and Exchange Commission (SEC), that it intended to delist GTT’s shares from 2 August, but the shares have already moved from the main list to the OTC – a steep fall for a company whose shares peaked at $60.25 just three years ago. The current valuation means that GTT’s market capitalisation is now only $44.4 million. As recently as 25 June, four weeks ago today, the shares traded at $3.09, when GTT was still on the NYSE. GTT stock is now sold on the over-the-counter (OTC) market only, and the share price has plunged to only 76 cents at last night’s close. ![]()
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