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Nasdaq Notice

Game Publisher Majesco Receives Nasdaq Notice Over Rules Compliance

Authored by Mark Hefflinger on March 23, 2006 - 3:47am.
Edison, N.J. - Video game publisher Majesco Entertainment announced on Thursday that it has received notice from the Nasdaq that it is not in compliance with the Nasdaq Capital Market's requirements for continued listing. Specifically, the company does not have a minimum of $2.5 million in stockholders' equity, $35.0 million market value of listed securities or $500,000 of net income from continuing operations for two of the three latest fiscal years. New Jersey-based Majesco said it intends to take steps to bring itself in compliance with Nasdaq rules, but may in fact see its shares delisted, in which case they would then likely trade on the Nasdaq's Over-the-Counter Bulletin Board.
tags: Law | Majesco | Game | Publisher | Nasdaq Notice |