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Not too COOL: Majesco stays on NASDAQ thanks to reverse stock split
Not too COOL: Majesco stays on NASDAQ thanks to reverse stock split
July 3, 2014 | By Christian Nutt




Newsbrief: New Jersey-based publisher Majesco is no stranger to financial trouble, or threat of delisting 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.


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Comments


Michael Thornberg
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Seriously.. 'Majesco'?? How about what is going on with CryTek instead? That is far more worrying than this. I am actually amazed you haven't picked that story up.

Christian Nutt
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Well, we did report on it:
http://www.gamasutra.com/view/news/219679/Report_Crytek_losing_st
aff_and_failing_to_meet_payroll.php

New reports come out almost daily, of course, and we're watching the situation. But just repeating other sites' anonymously-sourced reports (which often don't add much new, are sometimes written in ways that make it difficult to understand their provenance) doesn't necessarily seem to be the best course of action. And as yet, the company itself is not talking.

Ariel Gross
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THQ flashbacks. Hope they can pull it together.


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