Majesco off the hook after meeting Nasdaq requirements

Majesco has announced that it is no longer under threat of being delisted from the Nasdaq after successfully filing second quarter financial results before the extended deadline.

Last month, Majesco was given until June 10th to file its results, which had to show that the publisher met Nasdaq's minimum stockholders' equity requirement of USD 2.5 million. Failure to do so would have resulted in the company being delisted.

But Majesco has now issued a statement to confirm that it has met all requirements, and that "no further actions are required of the company."

It now seems that Majesco could be on the road to recovery following a rocky year, with the company's recently released financial report also revealing a small increase in profits.