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Nasdaq delisting threatened for Bam

Rob Fahey 13:35 22/11/2002

Low share price may lead to stock market dropping troubled publisher

Publisher Bam Entertainment has been threatened with delisting from the Nasdaq Stock Market following failure to meet the minimum price requirements of the exchange by trading at under $1.00 for 30 consecutive days.

The troubled company, which recently announced poor results and a package of drastic measures aimed at rescuing the business from financial difficulties by severely cutting costs and cancelling the development of several titles, now has until February 18 to comply with the price requirements, or it will be removed from the market.

In order to prove that it has met the requirements, Bam's stock (BFUN) must trade at over $1.00 for ten consecutive days during that period. The current share price is $0.42, and Bam has not traded at over $1.00 since the beginning of October.

Earlier this year, Interplay was faced with the same threat from the Nasdaq; however, it avoided delisting by conducting a reverse stock split which increased its share price significantly. It's not known whether this is an option for Bam, particularly given the company's deepening losses.


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