EDISON, N.J., Aug 28, 2008 /PRNewswire-FirstCall via COMTEX/ — Majesco Entertainment Company an innovative provider of video games for the family- friendly mass market, announced today that on August 22, 2008, it received a letter from The Nasdaq Stock Market, Inc. (”Nasdaq”) notifying the Company that for the 30 consecutive trading days preceding the date of the letter, the bid price of the Company’s common stock had closed below the $1.00 per share minimum required for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Marketplace Rule 4310 (c) (4).
The letter further notified the Company that, in accordance with Nasdaq Marketplace Rule 4310(c)(8)(D), the Company will be provided 180 calendar days, or until February 18, 2009, to regain compliance with the minimum bid price requirement. Compliance is achieved if the bid price per share of the Company’s common stock closes at $1.00 per share or greater for a minimum of ten consecutive trading days prior to February 18, 2009.
Source:
Majesco Entertainment Company Receives Nasdaq Notification
