Nasdaq Threatens Atari with Delisting

[Logan Frederick]

Nasdaq Threatens Atari with Delisting

Atari receives yet another delisting threat from Nasdaq after failing to satisfy the qualifications of its last notice.

For the third time in the past two years, publisher Atari, Inc. has received a Staff Determination Letter from the Nasdaq Listing Qualifications Department. This letter threatens that if Atari is unable to comply with the Nasdaq Marketplace Rule 4450, which lists the standards a company must meet to be part of the NASDAQ exchange, then the company will be delisted.

On December 21, 2007, Nasdaq notified [http://www.escapistmagazine.com/news/view/80260] Atari that if it was unable to maintain an aggregate market capitalization above $15 million for ten consecutive business days prior to March 20, 2008, that the company could be delisted. Atari failed to fulfill this requirement in the period of time given.

The company will request a hearing with the Nasdaq Listing Qualifications Panel in order to make the case that the company should remain listed in light of the pending acquisition [http://www.escapistmagazine.com/news/view/82099] by Infogrames Entertainment of Atari. However, this reasoning does not guarantee that the panel will allow Atari to remain on the market.

Atari's stock closed at $1.33 per share on Wednesday.

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[Singing Gremlin]

/businessnoobmode 1

Ok, here I have to admit, I have no freakin' idea what being listed actually entails, anyone care to enlighten me?

/businessnoobmode 0

 

[Rolling Thunder]

Being listed on a Stock Market is where stock in one's company can be freely traded by brokers in that exchange. While for a startup company it represents an excellent way of gaining a large sum of monetary (liquid) capital in a short space of time, given that Atari is a prextant company it most likely means that the only issue for them is that they will be unable to sell anymore stock on that market should they need additonal monetary capital.

 

[Singing Gremlin]

Ooooh, listed on the stock market. That makes sense, why didn't that occur to me? Cheers.

 

[Theo Samaritan]

This rings a pretty big bell...

 

[Spleeni]

hi
this is johny9985 now a days stock market is fully up and downs once it increases other wise decreases so many companies as well as so many people could suffer this problem.Stokmarket is down rates will be increase so middle class people suffer.
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johny9985

Stock Market [http://stockmarket.bizoppjunction.com]

These are called spambots, they spam threads and are automated programs, they are banned within minutes.

Thanks for the info. So basically Atari is off the stock market if they are delisted?

Nah, there's still over-the-counter markets, it just means they're off that particular listing.

Did anyone else notice the date on this post?