Not too COOL: Majesco stays on NASDAQ thanks to reverse stock split
: New Jersey-based publisher Majesco is no stranger to financial trouble
, or threat
from the NASDAQ stock exchange. In a plan announced in February
and executed last month
after shareholder approval, Majesco merged shares in the company at a ratio of seven-to-one, with no change in value of the investment for its shareholders.
That move allowed the company to continue trading on the exchange, it now says
, which has a minimum price requirement of $1 per share. Majesco's stock, which trades under the symbol COOL, is at $2.42 a share
as of this writing.
The company is hanging its hope on its indie publishing label Midnight City
and a move into social casino games