Atari Out of Compliance With Nasdaq Listing Rules
Hoping the news would vanish into the end of yawning end-of-year gulf that often swallows financial news, Atari acknowledged that it received a letter from the Nasdaq exchange noting that it is out of compliance with the Nasdaq's listing requirements.
Atari has until March 20, 2008 to regain compliance with the Nasdaq rule that a stock must have a minimum market value of $15.0 million. Atari must maintain such a value for ten consecutive days before March 20 (just as the stock had to be less than that value for 30 days to receive this warning). While Atari may not make the deadline, this sort of occurrence is common, and if Atari appeals the decision, it will likely receive more time to rectify the situation.
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