Atari Finally Delisted From NASDAQ

NEW YORK, March 26 /PRNewswire-FirstCall/ -- Atari, Inc. (Nasdaq: ATAR), an interactive entertainment company, announced today that on March 24, 2008 it received a Staff Determination Letter from the Nasdaq Listing Qualifications Department stating that Atari, Inc. has not gained compliance with the requirements of Nasdaq Marketplace Rule 4450(b)(3), and that its securities are therefore subject to delisting from The Nasdaq Global Market.

As previously announced, on December 21, 2007, the Nasdaq Listing Qualifications Department notified Atari, Inc. that, pursuant to Nasdaq Marketplace Rule 4450(e)(1), unless the market value of Atari, Inc.' s publicly held shares (which is calculated by reference to Atari, Inc.' s total shares outstanding, less any shares held by officers, directors or beneficial owners of 10% or more) maintains an aggregate market value of $15.0 million or more for a minimum of 10 consecutive business days prior to March 20, 2008, Atari, Inc.' s securities would be subject to delisting. The value of Atari, Inc.' s publicly held shares did not reach that level within the required period. Atari, Inc. intends to request a hearing before a Nasdaq Listing Qualifications Panel in order to appeal the Nasdaq Staff' s determination in light of, among other things, the pending proposal by Infogrames Entertainment SA (IESA) to acquire all of the outstanding shares of common stock not held by IESA. The hearing request will stay the delisting and, as a result, Atari, Inc.' s securities will remain listed on The Nasdaq Global Market until the Panel issues its decision following the hearing. There can be no assurance that the Panel will grant Atari, Inc.' s request for continued listing on The Nasdaq Global Market.

Phil' s gonna have his work cut out for him; that' s for sure.

what does this mean?

Change is inevitable. Except from a vending machine.

Viva La Revolution! erm, I mean Viva La Wii!

It means less capital for Atari to work with. Publicly listed companies sell stock in order to be infused with cash in order to maintain and expand their operations. Atari will have to depend on whatever reserves they have, and private investment, in order to get back on their feet.

I' m pretty sure they' re still publicly traded, they just aren' t on the Nasdaq which makes it way easier to invest into them.

"If you knew how good I am you would think I'm modest."

what does this mean?

They' re fu.cked.