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Interplay Faces Imminent Nasdaq Delisting

Interplay reported that it received a Staff Determination letter from Nasdaq Wednesday notifying the company that it had failed to meet the requirements needed to remain on the Nasdaq SmallCap Market.
Having given prior warning of delisting if Interplay did not raise its share price to the $1 minimum required by the Nasdaq SmallCap Market, Nasdaq had given Interplay until August 13 to comply with the requirement. Interplay has also failed to meet the 180-day-extension eligibility requirements of $5 million in shareholder equity, $50 million market value of listed securities, or $750,000 net income on continuous operations. Interplay has requested a hearing before the Nasdaq Listing Qualifications Panel to fend off the impending compliance deadline, but the request is still pending. If Interplay cannot successfully appeal the Staff Determination letter by 4 p.m. Eastern time on August 21, 2002, the company will be delisted effective with the opening of business on August 23, 2002.

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