WPT Enterprises Gets Nasdaq Warning, Heads Towards Delisting

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Photo above of a hot chick on a boat in lieu of a ship sinking, which is what the WPTE is doing right now.

WPT Enterprises, the parent company of the World Poker Tour, could soon be delisted from Nasdaq.

After trading below a buck since early July, the Nasdaq stock exchange has issued a Staff Determination Letter notifying the struggling Steve Lipscomb-run company that it has not been in compliance with Nasdaq’s minimum stock listing price requirements.

The WPTE, which had a net loss of $3.9 million last quarter, now has 180 calendar days to regain compliance, which will require the bid price of its stock to remain above $1 for a minimum of 10 consecutive business days. If that doesn’t happen, the WPTE will then be subject to delisting.

Looking at its current stock trend (closed at 72 cents yesterday), the chances of the WPTE staying above a buck for 10 days is about the same as us not looking at Audrina Patridge’s fake fun bags (thanks drunkensailor) or Kerri Walsh’s butt in the photos after the jump. Under the right conditions (someone shooting our eyes out right now), it could happen. But highly unlikely.

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3 Responses

  1. snake

    August 19, 2008 10:18 am, Reply

    based on Lipscomb’s head-in-the-clouds pigheadedness and the WPT’s statement that they “will continue to execute its business plan to provide an opportunity to demonstrate value to the investment community and regain Nasdaq compliance,”I don’t see a reverse split until maybe after the 180 days, when delisting is pending. but what do i know, i’m looking at tits and ass right now.

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