Bam! Entertainment, Inc. Announces Nasdaq Delisting Notice and Plans Appeal.
BAM! Entertainment BAM! Entertainment is a defunct video game publisher that published such titles as , Wallace & Gromit in Project Zoo, and various video game console adaptations of Cartoon Network programs. Threatened as early as 2002, NASDAQ eventually delisted their stock in 2004. (R) (the "Company") announced that on February 10, 2004, it received a letter from the Nasdaq Listing Qualifications Department indicating that the Company is subject to delisting Delisting
When the stock of a company is removed from a stock exchange.
Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. because of its failure to comply with Marketplace Rule 4320(e)(2)(B), which requires a minimum of (i) $2,500,000 stockholders' equity or (ii) a market capitalization Market Capitalization
A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of $35,000,000 or (iii) net income of $500,000, unless the Company requests a hearing prior to the opening of business on February 17, 2004.
The Company plans to request an oral hearing before the Nasdaq Listing Qualifications Panel to review the determination reached by the Nasdaq Listing Qualifications Department before February 17, 2004. The hearing is expected to be scheduled within 45 days of the filing of the hearing request. Under applicable rules, the hearing request will stay the delisting of the Company's securities, pending a decision by the Nasdaq Panel. The Company intends to present a plan to the Nasdaq Panel for achieving and sustaining compliance with Marketplace Rule 4320(e)(2)(B), but there can be no assurance the Nasdaq Panel will grant the Company's request for continued listing. The Company is actively pursuing various strategic alternatives with the goal of allowing it to achieve such compliance. If delisted, the Company would attempt to have its common stock traded in the over-the-counter market via the Electronic Bulletin Board.
About BAM Bam (bäm), town (1996 pop. 70,100), Kerman prov., SE Iran, on the intermittent Bam River. Located on the western edge of the Dasht-e Lut, Bam is a trade center in a henna-growing region. Dates and other fruits are also grown; camels are raised. !. Founded in 1999 and based in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , BAM! Entertainment, Inc. is a developer, publisher and marketer of interactive entertainment software worldwide. The company develops, obtains, or licenses properties from a wide variety of sources, including global entertainment and media companies, and publishes software for video game systems, wireless devices, and personal computers. More information about BAM! and its products can be found at the company's web site located at http://www.bam4fun.com/.
This release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on current estimates and projections about BAM! Entertainment's business, which are derived in part on assumptions of its management, and are not guarantees of BAM! Entertainment's future performance, as such performance is difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors. Such factors include, but are not limited to, those described in BAM! Entertainment's Annual Report on Form 10-K for the year ended June 30, 2003, and its Quarterly Report on Form 10-Q for the three-month period ended September 30, 2003, which are filed with the U.S. Securities and Exchange Commission. Readers of this release are referred to those filings. BAM! Entertainment does not intend to update any of these forward-looking statements after the date of this release.
NOTE: BAM! Entertainment, BAM! and BAM!4 are trademarks of BAM! Entertainment, Inc.
CONTACT: Stephen Ambler of BAM! Entertainment, Inc., +1-408-298-7500, or email@example.com
Web site: http://www.bam4fun.com/