Acclaim faces NASDAQ delisting

No_Style · Jul 30, 2004, 05:26 PM

What can you get for a quarter these days? On Wall Street, not much. It will, however, buy you a share of stock in Acclaim Entertainment. The company's stock closed at 19 cents at the end of trading on Thursday.

But such a bargain basement valuation has put the publisher in a precarious position. The publisher announced today that it has been served with documents from NASDAQ regulators indicating that if the market value of the company did not increase by August 18, it risked being de-listed from trading for noncompliance with NASDAQ marketplace rules. If it were to be de-listed, trading of Acclaim stock would likely shift to the OTC (over the counter) Bulletin Board.

According to the Acclaim, "The calculation of the market value of the Company's listed securities was based upon 129,573,500 shares of common stock outstanding as of June 19, 2004 multiplied by a closing bid price on that date of $0.20 per share."

The statement goes on to state that for Acclaim to remain a NASDAQ-listed company, the market value of the company must rise above $35 million for a minimum of 10 consecutive business days prior to August 18. In Acclaim's case, that means shares of the company's common stock must close at or above $.28 for the period outlined.

If the company were to be de-listed, it would retain the right to appeal the decision.
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Source: Gamespot

brywalker · Jul 30, 2004, 07:51 PM

Ding dong the witch is DEAD!

Its about time to put the nail in the coffin of the company that consistently puts out crap after crap.

Good riddance to bad rubbish.

No_Style · Jul 30, 2004, 07:53 PM

But I can't disagree

BWX · Jul 30, 2004, 11:09 PM

Didn't they make Revolt? that was a good game... lol

Jul 30, 2004, 05:26 PM	#1
No_Style Styleless Wonder Join Date: Jun 2002 Location: Ottawa, Ontario Posts: 6,034 Rep Power: 0	Acclaim faces NASDAQ delisting What can you get for a quarter these days? On Wall Street, not much. It will, however, buy you a share of stock in Acclaim Entertainment. The company's stock closed at 19 cents at the end of trading on Thursday. But such a bargain basement valuation has put the publisher in a precarious position. The publisher announced today that it has been served with documents from NASDAQ regulators indicating that if the market value of the company did not increase by August 18, it risked being de-listed from trading for noncompliance with NASDAQ marketplace rules. If it were to be de-listed, trading of Acclaim stock would likely shift to the OTC (over the counter) Bulletin Board. According to the Acclaim, "The calculation of the market value of the Company's listed securities was based upon 129,573,500 shares of common stock outstanding as of June 19, 2004 multiplied by a closing bid price on that date of $0.20 per share." The statement goes on to state that for Acclaim to remain a NASDAQ-listed company, the market value of the company must rise above $35 million for a minimum of 10 consecutive business days prior to August 18. In Acclaim's case, that means shares of the company's common stock must close at or above $.28 for the period outlined. If the company were to be de-listed, it would retain the right to appeal the decision. _______________ Source: Gamespot

Jul 30, 2004, 07:53 PM	Thread Starter #3
No_Style Styleless Wonder Join Date: Jun 2002 Location: Ottawa, Ontario Posts: 6,034 Rep Power: 0	LOL Harsh But I can't disagree __________________ "The Best Style Is No Style" Specifications Here

Jul 30, 2004, 11:09 PM	#4
BWX unplugged Join Date: Nov 2002 Location: USNY Posts: 19,669 Rep Power: 110 System Specs	Didn't they make Revolt? that was a good game... lol __________________

Jul 30, 2004, 07:51 PM	#2
brywalker DriverHeaven Junior Member Join Date: Feb 2003 Posts: 87 Rep Power: 0	Ding dong the witch is DEAD! Its about time to put the nail in the coffin of the company that consistently puts out crap after crap. Good riddance to bad rubbish.