Atari faces NASDAQ delisting again |
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It's always a sad affair whenever we hear a certain beloved videogame developing company being down in the dumps. Such is the case with Atari, who had once again been put on notice by NASDAQ. Yes, they're in that sort of dump - the financial dump - and as such, NASDAQ has ruled that Atari's name will be stricken off the charts. This isn't the first time that it's happened to Atari - in fact, they've been warned by NASDAQ many times before, in light of the company's ever-decreasing value.
What happens now, then? Atari missed the deadline that NASDAQ gave it to raise its stock value to above the US$ 15 million cut-off point before March 20, 2008 and so a delisting seems to be in order. Which is pretty bad for the company who literally invented videogames.
Of course, all may not be lost. Atari has declared that it intends to request a hearing before a NASDAQ panel in order to appeal the delisting. This is just in time, considering that Infogrames intends to acquire all of the remaining outstanding shares of Atari's common stock. But with that news, there's also the deal of the request being denied by the panel itself. So there's no guarantee that there will be a hearing - fingers crossed, in any case.
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Comments [refresh]
Here he comes, here comes John Wayne
"I'm not going to cry for my pa, I'm going to build a airport, put my name on it"
Why Atari, so you can fly away from your dreams?
Atari (in name only) can die for all I care. Last Atari game I played was Godzilla Unleashed. Before that, Enter the Matrix. Ugh.
I only hope that this does not jeopardize the release of either the updated Witcher or the new Alone in the Dark. Witcher was already a great game in its own right, but AITD looks like it will completely revolutionize itself and help boost the genre that has been monopolized by Resident Evil. We can only help Infogrames is ready to help Atari fight back.