The troubled New Jersey publisher hangs onto its spot on the stock market by issuing one share of stock for every seven held by its investors.
Newsbrief: New Jersey-based publisher Majesco is no stranger to financial trouble, or threat of delisting from the NASDAQ stock exchange. In a plan announced in February and executed last month after shareholder approval, Majesco merged shares in the company at a ratio of seven-to-one, with no change in value of the investment for its shareholders. That move allowed the company to continue trading on the exchange, it now says, which has a minimum price requirement of $1 per share. Majesco's stock, which trades under the symbol COOL, is at $2.42 a share as of this writing. The company is hanging its hope on its indie publishing label Midnight City and a move into social casino games.
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