Majesco is doing it wrong and the NASDAQ Stock Exchange knows all about it. The Cooking Mama publisher was today served an official warning for trading shares under $1.00. As per the rules, a company’s shares can only be traded for under $1.00 for thirty days.
Majesco’s thirty days are done, and if it doesn’t get its prices up by February 2009, the company could get itself delisted from the stock market. If that occurs, Majesco will find trading shares a far more difficult process, and if it’s in this deep, one would assume that extra difficulty is not welcome.
Business is serious business.