American publisher Majesco is in danger of having its stock delisted from the NASDAQ, the company has announced.

NASDAQ Marketplace rules require that company stocks must trade at a minimum price of $1.00. For the past thirty days Majesco, which trades under the name COOL, has not met this requirement. As a result, the company now has 180 days from the date of notification, or until February 18th, 2009, to keep its stock price above $1.00 for ten consecutive days.

If at the end of this time period Majesco has not met this requirement, the company will be reevaluated to see if it is out of listing compliance in any other regard. If it is not, the company will be given an additional 180 days to raise its stock price. On the other hand, if it is found that Majesco comes up short elsewhere, the stock will be delisted from the NASDAQ.

At the open of market Friday COOL stock was priced at $0.89, reaching a low of $0.87 and a high of $0.90 in the early hours of trading.