Sections

Majesco gets Nasdaq grace period

An extra 180 days to raise stock price above $1

Majesco Entertainment's latest financial filings have revealed the company has been given an extra 180 days to avoid being delisted by Nasdaq.

The 180 day grace period will end on February 24, 2014, so the Zumba Fitness publisher has until that date to achieve a minimum share bid price of $1 and to stay at or above that price for ten business days.

The company was first threatened with the delisting in March, after its stock dipped below $1 on January 14. The original deadline for the recovery was set at August 28.

It's the third time in total the company has faced being delisted.

Yesterday Majesco announced it was launching its own independent publishing label called Midnight City, headed up by Casey Lynch and Doug Kennedy.

Related stories

Majesco appoints new CEO

Letter to shareholders says "we expect that our future quarters will be breakeven to profitable"

By Rachel Weber

Beleaguered Majesco raises $6m, appoints new directors

The Cooking Mama and Zumba publisher is getting a little help from "certain accredited investors"

By James Brightman

Latest comments (1)

Sasha Yelesin Student 3 years ago
They're starting a new publishing label? It looks like they're barely surviving.
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.