Although Zumba Fitness
publisher Majesco was able to regain compliance with the Nasdaq market late last year, the company is now once again in danger of having its stock delisted.
Majesco's stock has been trading at a bid price of less than $1.00 for 30 consecutive days, and as such the Nasdaq has informed the company that it now has until August 28, 2013, to boost its share price over the $1.00 mark.
To regain compliance, Majesco must raise its common stock price over $1.00, and then keep it there for 10 consecutive business days -- otherwise it may be delisted from the stock exchange.
This is the second time that Majesco has fallen below the $1.00 threshold recently, as its share price dipped to around 90 cents
at the end of last year.
However, this latest drop appears a lot more dire a situation, as the share price currently sits at around 58 cents, and has been as low as 53 cents in the last month.
The drop in share price is no doubt down to the company's weak profits
during the 2012 fiscal year, in part due to lower than expected sales of NBA Baller Beats