Embattled publisher BAM! Entertainment has been notified by the NASDAQ stock exchange that its stock is subject to delisting, as the company has failed to comply with basic marketplace rules.
Under the terms dictated by the NASDAQ Listings Qualifications Department, a company must have a minimum of $2.5 million in stockholders' equity, a net income of $0.5 million or market capitalisation of $35 million to qualify for a listing.
The publisher now plans to request a hearing with the stock exchange authorities before the February 17 deadline, at which it must present a detailed plan for complying with the requirements of the exchange.
This isn't the first time that Bam, which trades under the ticker symbol BFUN, has been threatened with delisting by the NASDAQ authorities. In November 2002, the company was given three months to bring itself in line with a regulation that demands that companies may not trade at under $1.00 for thirty consecutive days.