GameTech International Inc. (GMTC) announced that on March 23, it received a letter from the NASDAQ Stock Market stating that it did not timely file its Quarterly Report on Form 10 Q for the period ended January 30, with the SEC. As a result, GameTech is not in compliance with the continued listing requirements under NASDAQ Listing Rule 5250(c)(1). The notification of noncompliance has no immediate effect on the listing or trading of GameTech’s common stock on the NASDAQ Global Market.
Pursuant to the NASDAQ Listing Standards, GameTech has 60 calendar days from the date of the notice to submit a plan to regain compliance, and if NASDAQ accepts GameTech’s plan, it can grant an exception of up to 180 calendar days from the quarterly report’s due date, or until September 19, 2011, to regain compliance.
GameTech Int’l engages in the design and marketing of interactive electronic bingo systems primarily in the United States, the United Kingdom, Canada, and Japan. The company was founded in 1994 and is headquartered in Reno, Nevada.