Recently yet another nail had been pounded into Atari's coffin.After losing one of their premier license "the DBZ franchise" to Namco bandai.
Atari has more recently been warned by Nasdaq That it has 90 days or until march 20'th To pull itself into shape or it will be removed from the Nasdaq index. Basically ruining its stock interest and killing the business as a competitor on any level.
It's sad, like a lot of you, my first video game console was an atari. We have all seen them struggle for years to compete in an overly competitive "rat race market" Only to come up short. And now It seems the curtain is closing on a legend, but not with a bang or a whimper. Just a soft eerie sigh.
Here is the full article from forbes.com
NEW YORK -
Struggling video game developer Atari Inc. said Thursday it received a warning from Nasdaq that its shares could be delisted because the market value of its stock is less than $15 million.
If the market value of Atari's publicly held shares, or the number of shares outstanding minus any shares held by officers, directors or beneficial owners of 10 percent or more of the company, falls below $15 million for 30 consecutive days, the stock will be delisted.
Atari has 90 days, or until March 20, to regain compliance with the rule. If it receives a notice of delisting after that time, Atair may appeal the decision.
Atari shares fell 4 cents to close at $1.44 on Thursday. The company had about 13.5 million shares outstanding as of Sept. 30, according to its fiscal second-quarter financial statement filed on Nov. 19.
It's just sad. I think we all saw it coming some day. But Still credit should be given to the legend that Is atari. Without them as the pioneers of the industry, where would we be today?
