<<<My own estimation is that the company is waiting for the Nasdaq to force the issue before officially announcing its solution, and that the solution is almost certain to be a reverse split. >>>
This is from an aklm press release about thier Nasdaq listing..and
continuation of it.. most importantly is the 90 review peroid beginning Feb 23, (which I assume will apply to mprs also)
So on or around May 23 things could start to happen concerning
Mprs and Nasdaq.
<<Acclaim Entertainment Clarifies Nasdaq Listing Status; 9-Year Nasdaq Veteran Company Returns to Profitability for Fiscal Q1 1998
GLEN COVE, N.Y.--Acclaim Entertainment, Inc. (NASDAQ:AKLM), a worldwide interactive entertainment company, today clarified its listing status on the Nasdaq National Market in response to an incomplete report published yesterday. Acclaim stated that the only activity the company has scheduled with Nasdaq for February 23 is the start of a new 90-day review period for the company's stock pursuant to Nasdaq Marketplace Rule 4310 (c)(8)(B). The published report, erroneously perceived by many to be from a press release issued by Acclaim, was actually written by a national news service.
The company has been advised by Nasdaq that it, along with all Nasdaq-listed companies, are subject to review by Nasdaq for compliance with a new combination of quantitative and qualitative listing requirements, made public in November 1996 and approved by the SEC on August 22, 1997. Acclaim has been advised by Nasdaq that as of that date, all companies that did not meet one or more of the new criteria were given a six-month grace period, with a scheduled review on February 23, 1998.
"We were pleased to report a profitable first fiscal quarter for 1998 on Monday, after two years of hard work, and we have our strongest product lineup in years ahead of us," said Gregory Fischbach, co-chairman and CEO of Acclaim. "We currently meet 5 of 6 of Nasdaq's quantitative maintenance criteria, and we look forward to working closely with the Nasdaq organization during our next 90-day review period, which starts February 23."
On January 12, Acclaim reported profitable results for its first quarter of fiscal 1998, ended Nov. 30, 1997. Net revenues for the quarter were $92.3 million, and net earnings for the first fiscal quarter of 1998 were $8.0 million, or $0.15 per share.
Profitable performance for the quarter was fueled by several strong retail releases, including N64 titles NFL Quarterback Club '98 and Extreme-G.
Sales for the company's March 1997- release N64 hit Turok: Dinosaur Hunter also remained strong. The combined strength of Acclaim's N64 titles resulted in a 17.3 percent dollar share of the N64 software market, compared to an 8.6 percent share for its closest competitor, according to a Jan. 5 CIBC Oppenheimer report based on November 1997 TRSTS industry data.
CONTACT: Kathryn Morris
Acclaim Entertainment
516.656.5000
kmorris@aklm.com
>>>>>>>>>
Coy |
