Majesco Gets 180 Day Extension from NASDAQ

Publisher Majesco has been given 180 days more to get its share price at $1 or be delisted by the NASDAQ stock exchange, according to a new SEC filing by the company.

The Cooking Mama and Zumba Fitness game series publisher was first warned by NASDAQ that it would be delisted if it didn't maintain the $1 price per share requirement of the exchange back in March of this year. This happened after its stock fell below $1 in January and didn't rebound. This is the third time in the company's history that it has been threatened with delisting by the exchange for not maintaining the minimum share price.

The company now has until February 24, 2014 to get its ducks in a row, so to speak.

The company is trying a few new things to drum up support from investors like launching a new publishing label geared towards indie developers called Midnight City. The new label will be run by former IGN Editor-in-Chief Casey Lynch and former Reverb Communication CEO Doug Kennedy

Source: GII


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