Majesco in Danger of Stock Market Delisting

Majesco in Danger of Stock Market Delisting

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The publisher of Psychonauts has been unable to keep its share price at one dollar on the Nasdaq stock market.

Majesco, publisher of memorable titles like Psychonauts and less memorable titles like Babysitting Mania, has struggled financially in recent years. After a rough fourth quarter 2012, the publisher reported layoffs earlier this year. The struggle continues for Majesco, as it is now in danger of being delisted from the Nasdaq stock market.

The publisher received a warning from Nasdaq due to the low price of its shares, which is currently 56 cents. Because of the ongoing low share price, Majesco "is not in compliance with the continued listing requirements for the Nasdaq Capital Market," which requires the publisher "to have a minimum bid price of $1.00 per share for 30 consecutive trading days." It now needs to get its share price back up to a dollar for at least ten consecutive business days by August 28, though if it misses that deadline it may receive another six-month grace period.

If this sounds familiar, it's because Majesco went through the same thing in 2007, although that time it was because the publisher couldn't "maintain a market capitalization above $35 million for 10 continuous days." Six years ago, Majesco was quickly able to regain compliance, although it may not be able to repeat that in this case. Hopefully Majesco can right itself within the next five months, or we'll never see that Babysitting Mania sequel we've been waiting for.

Souce: Majesco via Polygon

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Why do I feel like I've seen this all before... *cough* THQ!

Well thanks a lot Notch! :P

Other than Psychonauts (and arguably Cooking Mama), everything they've published is shovelware.

DVS BSTrD:
Well thanks a lot Notch! :P

I think you're confused. Majesco published Psychonauts but they didn't create it and don't own the IP. Both of those distinctions belong to Doublefine. If Doublefine ever does produce a Psychonauts sequel I'm sure they can find another publisher.

Roander:

DVS BSTrD:
Well thanks a lot Notch! :P

I think you're confused. Majesco published Psychonauts but they didn't create it and don't own the IP. Both of those distinctions belong to Doublefine. If Doublefine ever does produce a Psychonauts sequel I'm sure they can find another publisher.

Oh yeah, DoubleFine IS independent isn't it?

Yeah, I'm having problems summoning up the will to care. Since DoubleFine is separate, will this be an actual loss? (Beyond the bit where people lose jobs of course, that's always bad)

That saddens me, one of my all time favorite games "Phantom Dust" Was published by them. Too bad it never got a sequel.

 

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