NASDAQ warns Atari of delisting

Atari has revealed that it has received an official warning from the NASDAQ stock exchange, informing it that it will be delisted if it cannot get its share price up to $1 or more for ten consecutive days by August 30th.

Maintaining a share price of $1 or more is one of the basic requirements for listing on the technology-focused exchange, and if Atari cannot comply with the exchange's demands, it's likely to be forced to list on a smaller market instead - a major blow for the firm's prospects.

The company has faced serious financial difficulties in recent months, and although it is currently cutting costs by laying off staff and selling development studios, it has also been forced to warn investors that it may not be able to continue as a going concern.

Shares in the firm were at 75 cents at the time of publication, down just over two per cent from their closing price yesterday.