Officials from BAM! Entertainment confirmed that the company’s common stock will cease trading on the Nasdaq SmallCap Market, effective October 15. The move follows the receipt of a written notice of Compliance Determination on Wednesday, from the Nasdaq Listing Qualifications Department.
The company was given exception from the minimum stockholders' equity/market value of listed securities/net income requirement in April of this year, with the understanding that representatives would publicly file the company's annual report on Form 10-K on or before 30th September. The failure to do so resulted in the current delisting.
The company expects its stock to continue to be quoted on the Pink Sheets Electronic Quotation Service, and further hopes it will become eligible for quotation on the OTC Bulletin Board.