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More Financial Trouble For Interplay

Discussion in 'Game/SP News & Comments' started by NewsPro, Feb 18, 2002.

  1. NewsPro Gems: 30/31
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    (Originally posted by Mollusken)

    The following was announced in a press release from Interplay:

    IRVINE, Calif., Feb. 15 /PRNewswire-FirstCall/ -- Interplay Entertainment Corp. (Nasdaq: IPLY - news) announced today that it received a ``deficiency notice'' from the Nasdaq Staff dated February 14, 2002, stating that for the last 30 consecutive trading days, Interplay's common stock has not maintained a minimum market value of publicly held shares of $15,000,000 and a minimum bid price per share of $3.00 as required for continued listing under Nasdaq Marketplace Rules 4450(b)(3) and 4450(b)(4), respectively. Additionally, Interplay does not meet Nasdaq's alternative listing requirements, which require, among other things, that Interplay have a stockholders' equity of $10 million, a minimum market value of publicly held shares of $5,000,000 and a minimum bid price per share of $1.00. Interplay has been provided 90 calendar days, or until May 15, 2002, to regain compliance. Interplay intends to make every effort to regain compliance prior to the May 15, 2002, deadline. If Interplay fails to regain compliance, the company expects to be notified by Nasdaq that its securities will be delisted.

    The whole press release can be found at Yahoo.
     
    NewsPro, Feb 18, 2002
    #1
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