Bond gaming studio Activision could face NASDAQ delisting
Activision might have thought it could breathe a little easier after the best 3rd quarter financial results in the company's history, but according to NASDAQ, this is not the case. According to an Activision press release, the company's common stock is in danger of being delisted from the NASDAQ market after failing to file its Form 10-Q for the third quarter of fiscal year 2007 - reports GamePro.com
This is the second straight delayed filing for the publisher, which received a similar notice on November 14th, 2006 for failure to submit its financial results for the second quarter of the same fiscal year. NASDAQ has given Activision a deadline of May 9, 2007 to file both of the delayed Form 10-Q reports, and if that deadline is not met, the company may suffer a genuine delisting.
The release indicates that Activision's delayed submission of its last two quarterly financial reports to the Securities and Exchange Commission is the direct result of an "ongoing review of the company's historical stock option practices by the special subcommittee of the company's board of directors". As a result, Activision's recent financial statements to its shareholders have been listed only as "preliminary" reports.
Not good news for Bond gamers as back in May 2006, MI6 revealed Activision are the sole owners of James Bond video game rights
, taking over from EA Games.
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