On Wednesday My 12th, the New York Stock Exchange announced that it will be delisting 4Kids Entertainment (KDE for all you home players). While there is a lot to cover, the first two paragraphs pretty much summarize the 5 Ws:
NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of 4Kids Entertainment, Inc. (the “Company”) — ticker symbol KDE — should be removed from the list. The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation (the “Committee”). Should the Company request a review by the Committee, the date of such review will be announced. A suspension date will be announced at such time as i) the Company does not request a review by the Committee within 10 business days of this notice; ii) the subsequent review of the Committee determines that the Company should be suspended; iii) the Company is approved to commence trading in another securities marketplace or; iv) there are other material developments.
The decision to commence suspension procedures of the Company’s common stock was reached in view of the fact that the Company has recently fallen below the New York Stock Exchange’s (“NYSE”) continued listing standard regarding average global market capitalization over a consecutive 30 trading day period of not less than $15 million, which is the minimum threshold for listing. The Company had previously fallen below the NYSE’s continued listing standards for average global market capitalization over a consecutive 30 trading day period of not less than $50 million and total stockholders’ equity of not less than $50 million and was in the process of submitting business plan materials for our review.
The press release goes on to say that 4Kids has ten business days to request a review of the determination by the NYSE. What surprises me is that 4Kids sent out a press release about the… NYSE press release (a retweet as it were).
Um so if they need money, can I buy Yu Gi Oh, and then sell it to LK?