Troubled publisher Majesco has been granted an extension to the deadline by which it must file quarter two financial results - but failure to comply with the rules could mean the company is delisted from the Nasdaq.
Majesco now has until June 10th to file its 10-Q report for the quarter ending April 30th, 2006. The report must show that Majesco meets Nasdaq's minimum stockholders' equity requirement of USD 2.5 million.
"At the time of this release, Majesco management believes that it will be able to demonstrate compliance with the rule and maintain its listing on the Nasdaq Capital Market," the company said in a statement.
It's been a difficult year for Majesco - CEO Carl Yankowski resigned last July following poor financial results, and in March a group of disgruntled shareholders attempted to purchase a controlling stake in the company.