Majesco Entertainment Company Announces Grace Period for Listing on Nasdaq (COOL)

Majesco Entertainment Company COOL today announced that on August 31, 2010, it received a notification from the Nasdaq Stock Market indicating that the Company will have an additional 180-day grace period, until February 28, 2011, to regain compliance with Nasdaq's $1.00 minimum bid requirement. The Company can regain compliance by maintaining a minimum closing bid price of $1.00 per share for 10 consecutive business days. If the Company does not meet the minimum bid requirement during the 180-day grace period, Nasdaq will provide written notification to the Company that its common stock will be subject to delisting.