Tandy Leather Factory Inc (OTCMKTS:TLFA) on September 1, 2022, announced that the common stock is approved for listing on Nasdaq Stock Market, LLC. The firm is expecting the trading to commence on September 7, 2022.
Trading Data
On Thursday, TLFA stock ended flat at $4.5500 with more than 40 shares traded, compared to volume of 3.10K shares. The stock moved within a range of $4.5500 – 4.5500 after opening trading at $4.5500.
Tandy Leather Factory Announces Listing of its Common Stock on Nasdaq
The company’s stock was de-listed from Nasdaq due to non-periodic SEC filings during the financial restatement process.
Janet Carr, Chief Executive Officer said that the re-listing of the stock on the stock exchange is a significant milestone for the firm. Carr added that the company is again filing since December and Nasdaq’s approval is the last step in being back from the accounting issues. As per the CEO, the listing will restore liquidity for investors and enable an active trading market in the stock.
A specialty retailer of a broad product line, including leather, belts, buckles, saddle, and tack hardware, the firm distributes its products through 104 North American stores.
Key Quote
Janet Carr, Chief Executive Officer of the Company, said, “The re-listing of our stock on Nasdaq marks a major milestone for Tandy. Following the completion of our restatement in June 2021 and the Company being current again in its filings since December, Nasdaq’s approval is the final step in coming back from the accounting issues that led to the restatement. We believe that this listing should restore liquidity for our investors and allow for a more active trading market in our stock.”
Tandy Leather Factory Reports Second Quarter 2022 Results; Announces Resignation of CFO
Tandy Leather Factory Inc on August 15, 2022, announced its financial results for quarter two ending June 30, 2022.
Janet Carr, Chief Executive Officer of the Company said the quarter’s net sales were down by 1% but better than the trend seen during quarter one. Carr added that the weaker consumer demand environment as well as surging labor costs are likely to continue. Tandy’s quarter two sales were $18.4 million in 2022, down from $18.6 million in 2021.
