Representatives from BAM! Entertainment have announced that the company has received a letter from the Nasdaq listing qualifications department indicating that the company is subject to delisting because of its failure to comply with a marketplace rule that requires a minimum of $2,500,000 stockholders' equity, a market capitalization of $35,000,000 or net income of $500,000.
The company plans to appeal the move, with a hearing scheduled within 45 days. If delisted, the company will attempt to have its common stock traded in the over-the-counter market via the Electronic Bulletin Board.
Source: BAM! Entertainment
