Majesco Entertainment Regains Full Compliance With NASDAQ $1.00 Minimum Bid Requirement
EDISON, N.J., Jan. 31, 2011 /PRNewswire/ -- Majesco Entertainment Company (Nasdaq: COOL), an innovative provider of video games for the mass market, announced today that on January 28, 2011, it received a letter from the Nasdaq Stock Market indicating that the Company had regained compliance with Listing Rule 5550(a)(2) as the closing bid price of the Company's common stock had been at $1.00 per share or greater for at least 10 consecutive business days. On March 2, 2010, the Company was notified that its common stock failed to maintain a minimum bid price of $1.00 for 30 consecutive business days. The letter received on January 28, 2011 further stated that this matter is now closed. The company is now in full compliance with Nasdaq listing requirements.
About Majesco Entertainment Company
Majesco Entertainment Company is a provider of video games for the mass market. Building on more than 20 years of operating history, the company is focused on developing and publishing a wide range of casual and family oriented video games on Kinect for Xbox 360®, PlayStation®Move, Wii™, Nintendo DS™ and other leading systems. Product highlights include Cooking Mama™, Babysitting Mama™, TETRIS® Party Deluxe and Zumba Fitness®. The company's shares are traded on the Nasdaq Stock Market under the symbol: COOL. Majesco is headquartered in Edison, NJ and has an international office in Bristol, UK. More info can be found online at www.majescoentertainment.com or on Twitter at www.twitter.com/majesco.
Safe HarborCertain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by reference to a future period(s) or by the use of forward-looking terminology, such as "may," "will," "intend," "should," "expect," "anticipate," "estimate" or "continue" or the negatives thereof or other comparable terminology. The Company's actual results could differ materially from those anticipated in such forward-looking statements due to a variety of factors. These factors include but are not limited to, the demand for our products; our ability to complete and release our products in a timely fashion; competitive factors in the businesses in which we compete; continued consumer acceptance of our products and the gaming platforms on which our products operate; fulfillment of orders preliminarily made by customers; adverse changes in the securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake, and specifically disclaims any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. SOURCE Majesco Entertainment Company
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