Atari receives a delisting notice from NASDAQ

Atari received a delisting notice from NASDAQ - Image 1Game publisher Atari has let slip that they have received a delisting notification from the National Association of Securities Dealers Automated Quotations (NASDAQ) due to the fact that it hasn’t filed its 2007 fiscal annual report due to “certain severance matters.” This could be due to the recent lay-offs of 20% of the company’s staff.

This isn’t the first time the company was under threat of delisting from the said organization. Last September it was struggling to maintain the above one dollar per share requirement to be listed in NASDAQ.

Atari has given word that it’s is working to resolve the “severance-related entries” as quickly as possible to enable them to file the Form 10-K prior to meeting the company requested with the NASDAQ Listing Qualifications Panel where it will appeal the NASDAQ Staff Determination.

Will this problem affect the value of the company? More importantly though, how will it affect the games that Atari is and will be publishing in the future?

Via Gamesutra

Atari received a delisting notice from NASDAQ - Image 1Game publisher Atari has let slip that they have received a delisting notification from the National Association of Securities Dealers Automated Quotations (NASDAQ) due to the fact that it hasn’t filed its 2007 fiscal annual report due to “certain severance matters.” This could be due to the recent lay-offs of 20% of the company’s staff.

This isn’t the first time the company was under threat of delisting from the said organization. Last September it was struggling to maintain the above one dollar per share requirement to be listed in NASDAQ.

Atari has given word that it’s is working to resolve the “severance-related entries” as quickly as possible to enable them to file the Form 10-K prior to meeting the company requested with the NASDAQ Listing Qualifications Panel where it will appeal the NASDAQ Staff Determination.

Will this problem affect the value of the company? More importantly though, how will it affect the games that Atari is and will be publishing in the future?

Via Gamesutra

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