Tel-Instrument Electronics announces receipt of NYSE American non-compliance letter regarding minimum equity requirement

Tel Instrument Electronics, which designs and manufactures avionics test and measurement solutions, announced that on August 8, 2018 it received a letter from the staff of the NYSE American (exchange) stating based on the company’s financial statements at March 31, 2018, that the company is not in compliance with Section 1003(a)(ii) of the NYSE American Company Guide, which requires that a company’s stockholders’ equity be $4.0 million or more if it has reported net losses in three of its last four fiscal years. As of March 31, 2018, the company had a stockholders’ deficit of approximately $1.4 million, and had