Majesco Entertainment (COOL) Regains Nasdaq Listing Compliance

August 24, 2016 8:04 AM EDT

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Majesco Entertainment Company (NASDAQ: COOL) reported that it has received formal notification from the Listing Qualifications Department of The NASDAQ Stock Market ("NASDAQ") notifying Majesco that it has regained compliance with Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on The NASDAQ Stock Market, and that the matter is now closed. Majesco's common stock will continue to be listed on The NASDAQ Capital Market.

On March 3, 2016, NASDAQ notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by NASDAQ's Listing Rules. NASDAQ determined that for the 10 consecutive business days from August 1, 2016 to August 12, 2016, the closing bid price of the Company's common stock was $1.00 per share or greater. On August 15, 2016, NASDAQ provided confirmation to Majesco of the foregoing and that the Company has regained compliance with Listing Rule 5550(a)(2).

Majesco's common stock trades on The NASDAQ Capital Market under the symbol "COOL."

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