Just over a month since the company said it had received notice from Nasdaq that it was in danger of being delisted, publisher Majesco has announced that the company has just fully regained compliance with the stock exchange.
First word of the Nasdaq warning came in March
during its Q1 earnings call, when executive vice president and chief financial officer John Gross said the exchange had notified Majesco that it was in danger of being delisted for not complying with the 10 consecutive business day $35 million market cap requirement, and was thus is “conferring with council in terms of how to approach that.”
Today, the company announced that it had received a letter saying it has regained compliance with Nasdaq by maintaining a market value of listed securities of at least $35 million for ten consecutive trading days.
As part of the announcement, the hearing the publisher was to have with the Nasdaq Listing Qualifications Panel to present its plan for remaining listed "is no longer necessary and has been cancelled."
