Atari goes from A-list to de-list
2 Jan 2008 | 17:33 GMT
Kick up the Nasdaqs
ATARI WAS once a big name in plastic toys. Now it seems the company has enough trouble filling in forms, let alone making consoles or compact discs with code on.
The outfit has just received its third Nasdaq notice in six months warning that it faces delisting. The stock exchange is miffed that the one-time console maker's beancounters are yet to file a financial statement for the quarter ended 30 June 2007.
The firm received the latest notice because the market value of its publicly held shares was less than $15 million for 30 consecutive business days prior to 21 December 2007.
Atari has until 20 March 2008 to comply with the minimum market value of publicly held shares required for continued listing on Nasdaq's Global Market. Otherwise it'll be dumped.
Atari has to get the value of its publicly-held shares above the $15 million threshold for at least 10 consecutive days before the deadline. µ
© 2007 Incisive Media Investments Ltd. 2007