EL33TONLINE: News tag archive: nasdaq

Majesco has announced that they may be delisted from the NASDAQ, unless their stock price rises above the required minimum of $1.00 for ten consecutive days, as the rules of the marketplace dictate. Majesco, who trade under the name COOL, has had their stock price at a fluctuating $0.90 as of Friday last week.

Majesco have been given 180 days from the date of notification to improve their stock price, which means they have until February 18th 2009 to achieve the requirements. When that time is up, and if Majesco’s stock price does not reach the required $1.00, NASDAQ will re-evaluate Majesco and, provided they meet all of their other minimum listing requirements, Majesco will be given a further 180 days to improve their value.

Majesco has seen a slight rise in fortunes after deciding to pursue the casual market, with Cooking Mama and Bust-a-Move Bash! performing well, contributing to $29.1 million in sales for the first half of last year. Sales from that period are also up, to $31.4 million, despite a drop in sales in the second quarter this year, to $12.8 million, as compared to sales of $14.6 million in the same period last year.