Atari has received a delisting notice from the US Nasdaq market after failing to file its financial report for the fiscal year ending 31 March 2007.
The electronic entertainment company has made a "timely request" for a hearing with a Nasdaq qualifications panel to appeal against the notice.
Atari has not filed its Form 10-K because it is still determining what, if any, accounting entries it needs to make with respect to certain severance matters after cutting its workforce by 20 percent in May this year.
Following a significant decline in the company's market capitalisation, Atari is expecting a greater than expected loss of US$71.3m owing to a US$54.1m impairment of goodwill charge.
The company added that it will endeavour to make this determination as quickly as possible and file its report prior to the hearing date.
Nasdaq has warned that, if does not file before the hearing, there can be no assurance that the panel will grant its request for continued listing.
Atari faces Nasdaq delisting
By
Staff Writers
on Jul 24, 2007 3:54PM
Got a news tip for our journalists? Share it with us anonymously here.
Partner Content
Kaseya Dattocon APAC 2024 is Back
Build cybersecurity capability with award winning Fortinet training from Ingram Micro
Channel can help lead customers to boosting workplace wellbeing with professional headsets
Tech For Good program gives purpose and strong business outcomes
Secure, integrated platforms enable MSPs to focus bringing powerful solutions to customers
Sponsored Whitepapers
-1.jpg&w=100&c=1&s=0)
Stop Fraud Before It Starts: A Must-Read Guide for Safer Customer Communications
The Cybersecurity Playbook for Partners in Asia Pacific and Japan
Pulseway Essential Eight Framework
7 Best Practices For Implementing Human Risk Management
2025 State of Machine Identity Security Report
.png&w=100&c=1&s=0)
