US publisher Majesco is once again in danger of having its stock delisted from the Nasdaq.
Nasdaq marketplace rules state that companies’ listed securities must trade at a minimum price of $1.00, but the bid price for Majesco’s common stock closed below that level for 30 consecutive days, leading the company to be notified of its potential delisting.
Majesco has been provided “with 180 calendar days, or until August 30, 2010, to regain compliance by maintaining a per-share value of listed securities of at least $1.00 million for a minimum of 10 consecutive business days during the 180-day period”, the firm said in a statement.
In January the Cooking Mama and Jillian Michaels’ Fitness publisher announced a net loss of $7.2 million for its fiscal 2009, compared to a net income of $3.4 million the previous year.
Majesco has been warned of a potential Nasdaq listing on several previous occasions.