Atari has been sufficiently warned by NASDAQ as early as March to raise its stock value. Atari didn't, even with the completed merger with Infogrames. Thus, Atari is now delisted. What are its implication? Details over at the full article.

Under threat of delisting from NASDAQ yet again, Atari is still determined to keep its pulse beating by hiring a new CEO to guide their way. Jim Wilson, formerly of Sony BMG and Vivendi, is now at the pilot seat of the once-legendary brand of gaming. More details after the jump.

Ever wondered just what happened to the March 20, 2008 deadline that NASDAQ gave Atari about its stock value? Wonder no more as we give you the rather disconcerting news: The company hailed as the progenitor of videogaming did not make the cut, and is now facing imminent delisting. All the details in the full article.

Atari just received a warning from NASDAQ stating it may be delisted for low stock market value. Even after patching things up with FUNimation, it seems the video game company is in the red once more. Find the details at the full article.

Atari has reported a loss of US$ 11.9 million in it Q1 financial report. These losses are up by more than 50 percent compared to the company's financial reports for the year-earlier period. With Atari in danger of losing the license to one of its key franchises, things are looking bleak for the Infogrames-owned company. A recovery plan is in the works, though, which started last month with a restructuring of the company's board of directors.

Microtransaction advocate and worldwide publisher Electronic Arts (NASDAQ: ERTS) reported a net revenue of US$ 395 million for the first quarter (Q1) of fiscal year (FY) 2007, which dipped 4% than last year's US$ 413 million. But after EA's recent announcement to 'pull the plug' on servers for older boxed games, the publisher announced via press wire than it will now recognize revenue derived from those services. Such earnings will be reflected in future financial reports.

 

The gross profit for Q1 dropped 7% to US$ 229 million compared to last year, while the company's quarter net losses reached US$ 132 million as opposed to the prior year's US$ 81 million. And for concerned investors who couldn't make it to the company's conference call, diluted loss per share was claimed at US$ 0.42 (US$ 0.26 last year). Non-GAAP diluted loss per share dipped by US$ 0.22 (US$ 0.12 last year).

Surprisingly, EA's operating cash flow was noticeably slimmer this year, as its twelve-month flow was tallied at US$ 243 million, compared to a deeper US$ 589 million pocket last year. EA claimed to have ended the quarter with cash and short term investments amounting to US$ 2.2 billion.

Biggest highlights of the quarter for the publishing giant were the two million units sold in a single week for the company's Harry Potter and the Order of the Phoenix, while closer to corporate news was the arrival of Peter Moore, former Microsoft corporate vice president, and Kathy Vrabeck, former Activision president, to the executive ranks of the company.

In addition, the company has reorganized itself into four labels which is expected to come into effect this current quarter, while expanding further into Asia with equity investments in The9 Limited, China and Neowiz Corporation, Korea. An agreement with The9 was also signed to bring EA SPORTS FIFA Online to China.

Game publisher Atari has let slip that they have received a delisting notification from the National Association of Securities Dealers Automated Quotations (NASDAQ) due to the fact that it hasn't filed its 2007 fiscal annual report due to "certain severance matters." This could be due to the recent lay-offs of 20% of the company's staff.

This isn't the first time the company was under threat of delisting from the said organization. Last September it was struggling to maintain the above one dollar per share requirement to be listed in NASDAQ.

Atari has given word that it's is working to resolve the "severance-related entries" as quickly as possible to enable them to file the Form 10-K prior to meeting the company requested with the NASDAQ Listing Qualifications Panel where it will appeal the NASDAQ Staff Determination.

Will this problem affect the value of the company? More importantly though, how will it affect the games that Atari is and will be publishing in the future?

Last February, independent auditing firm Goldstein Goulb Kressler expressed their concern about Majesco Entertainment's financial health. Now, it seems that Majesco in a not-so-pleasant situation.

Majesco, known as the publisher of games like Cooking Mama and Psychonauts among many others, revealed that they received a second notification from Nasdaq stating the company has not met the US$ 35 million market value of listed securities requirement for continued listing.

Gibberish as this sounds, what this means is that Majesco's common stock is subject to delisting from the Nasdaq Capital Market unless the company requests a hearing before a Nasdaq Listing Qualifications Panel. In other words, this spells trouble as the fate of the company is in the hands of the Nasdaq panel. It's a sad thing when you're not in control of the situation, is it not?

The company is dead set on requesting a hearing, but of course there are no guarantees that the Panel will give in to their request for continued listing.

From an official press release, Take Two Interactive has announced that NASDAQ has contacted them and confirmed that they are back on the NASDAQ Stock Market listing. Once again, Take Two Interactive can regain the confidence of stock holders and investors while keeping their common stock listed at the NASDAQ Global Select Market, under the registered key of TTWO.

Suffering from a financial support loss stemmed from "significant" backdating stock grants back in late 2006, the publisher went from downsizing to as far as considering to sell the company to the highest bidder.

Issues with someone-who-will-not-be-named-here also was of no help, poking into the integrity and reputation of the company that attempted to bring Grand Theft Auto to every gaming platform available.

Take Two Interactive is now happy to be back on track again with creating great games for next-gen console and computer gamers. Ben Feder, acting CEO for Take Two Interactive, said, "We are pleased to put this issue behind us. The new management team and Board of Directors intend to resolve all outstanding regulatory issues as quickly and effectively as possible."

Aside from Take Two, Apple, THQ and Activision are also some big companies that are hot in NASDAQ's "fix your financial issues!" list. Let's hope there's also a good ending for them in sight, for there are a lot of titles hanging on a fine thread that could die just to conspicuous Q-10 reports.

We're not too certain if the stock increase right after the rather infamous Take-Two Interactive takeover is just an initial reaction from the investors, but it seems that new chairman Strauss Zelnick is doing something they appreciate. With that said, what exactly is Zelnick doing that former CEO Paul Eibeler failed to do?

Well, nothing secret or groundbreaking really but Zelnick mentioned that a lot has happened to Take-Two Interactive recently and the new management needs to focus on its stability first.

We need to stabilize the company at the corporate level and give stakeholders, both shareholders and employees, comfort that we will maximize the value of the company. The company has had compliance issues, and we need to work with appropriate regulators and authorities to ensure we maintain our books right.

Just after the takeover, or the revolt if you will, the publisher's regular NASDAQ trading immediately rose by US$ 0.24 ending at US$ 21.10. Last weekend, it closed down 96 cents, or 4.5%, to US$ 20.14. Anyway, the new chairman promised to continue support for the Grand Theft Auto franchise but he did add that they are considering to reduce workforce. According to Zelnick,

We will be candid with people about that. Running the company in an efficient manner is important to us and we think running a lean corporate operation will help shareholders. Having one of the most important franchises in the video game business today creates revenue concentration.

Lastly, going back to stability, Zelnick said that acting CEO Ben Feder will likely remain in his post for around a year or until Take-Two gets its groove back. He promised to look very well into the company's global structure before making any decisions.