Mad Catz could be in big trouble as they have received a notice from the New York Stock Exchange stating that due to the company’s low selling share price, the company could be delisted from the NYSE unless it can show “a sustained improvement in its share price” within the next six months.
The company have noted that the companies board of directors are “currently assessing the appropriate ratio of post-split shares for every pre-split shares that would best serve the company’s stockholders while allowing the Company to remain compliant with the NYSE MKT’s continued listing requirements.”
The New York Stock Exchange requires that companies maintain a minimum average closing price of at least $1.00 apiece over 30 consecutive trading days. Mad Catz stock are currently trading at $0.15 each
