Gamertell

After posting a $76 million loss in revenue for the third quarter, Midway has been issued a delisting notice from the New York Stock Exchange. According to GameSpot UK, the notice came after the struggling developer failed to close above $1 a share, the minimum required closing price for the New York Stock Exchange, within 30 days of trading.

In order to avoid being delisted, Midway must raise its share price within the next six months. The struggling Mortal Kombat developer has responded to this latest development by claiming it “plans to notify the NYSE that it will seek to cure the deficiency.” Whatever that means.

Having lost an estimated $580 million since 1999, it’s no secret that the developer’s very future may depend heavily on the success of Mortal Kombat vs. DC Universe. Midway is also counting on continued sales of TNA iMPACT!, Mortal Kombat Kollection and the Xbox 360 version of Unreal Tournament 3 to help reclaim some of its recent losses.

Read [GameSpot UK] Via [1UP]