Summary by Moomoo AI
On September 5, 2024, Volato Group, Inc. notified its executive officers that their employment agreements would not be renewed, with terms ending on November 30, 2024, transitioning them to at-will employment. The next day, Steven Drucker, the Chief Technology Officer, resigned, with no reported disagreements with the company's practices. Concurrently, Volato announced that the NYSE American accepted its compliance plan, granting an extension until December 18, 2025, to meet listing standards. The company had previously been notified of non-compliance due to insufficient stockholders' equity and consecutive fiscal year losses. Volato's stock will remain listed during the plan period, with quarterly reviews to assess progress. The company's ability to regain compliance by the deadline remains uncertain, and failure to do so may lead to delisting proceedings.
