Majesco Entertainment CompanyNASDAQ
Fri, Jul. 29, 10:47 AM
- Games maker Majesco Entertainment (NASDAQ:COOL) is off 4.1% after approving a 1-for-6 reverse split, set to be effective at Monday's market open.
- Each six shares will be converted into one share of common stock with no change to par value. The move will reduce outstanding shares from about 16.65M to about 2.775M.
- Holders of fractional shares will receive cash based on today's closing price.
- The stock fell below the $1/share threshold in January.
Wed, Mar. 16, 8:40 AM
- Majesco Entertainment (NASDAQ:COOL): FQ1 Net loss of $0.61M.
- Revenue of $0.59M (-82.6% Y/Y).
Tue, Jan. 12, 12:41 PM
Thu, Jan. 7, 1:15 PM
- Against the backdrop of today's maket decline, Majesco Entertainment (NASDAQ:COOL) has returned to earth, -24.5% -- perhaps as investors sort out that a $10M special dividend only came to about $0.33/share.
- That's considering the number of convertible shares that play into the math. Four different series of convertibles add to common share equivalents
- The stock had jumped from $1.02 to $1.63 yesterday on volume of 7.19M shares -- more than 1,700 times the previous day's volume, and nearly 30 times average volume -- and shares are trading currently at $1.24.
Thu, Jan. 7, 12:41 PM
Wed, Jan. 6, 3:36 PM
- Majesco Entertainment (NASDAQ:COOL) is still up 66% building on postmarket gains last night tied to a special $10M dividend, though it's off its rocket ride from the open, where it gained as much as 128%.
- Shares are surprisingly up $0.66 today to $1.66, though the special dividend (payable Jan. 15) amounts to just $0.33/common share, including common share equivalents. The company mentioned four different series of convertible shares in its 8-K.
- Investors may note that CEO Barry Honig is promising more: "This special dividend is another step in returning value to shareholders. We will continue to explore options for delivering value with our low overhead and cash position."
- The stock had gained as much as $1.28 in opening enthusiasm before beginning to settle down a bit after 10 a.m.
- Previously: Majesco Entertainment declares $0.33 special dividend (Jan. 06 2016)
Wed, Jan. 6, 12:45 PM
Wed, Jan. 6, 7:24 AM
- Majesco Entertainment (NASDAQ:COOL) declares approx. $0.33/share special dividend.
- Payable Jan. 15; for shareholders of record Jan. 14; ex-div Jan. 12.
Tue, Jan. 5, 6:08 PM
- Majesco Entertainment (COOL -2.9%) is up 12% after hours following an 8-K filing where it noted a $10M special cash dividend.
- The firm declared the dividend to be paid Jan. 15, to all holders of record on Jan. 14.
- As of yesterday, the company had about 11.26M shares of common stock; 8.63M shares of series A convertible preferred stock (convertible one-for-one into common); 54,202 shares of series B convertible preferred stock (convertible into 5.4M shares of common); 25,764 shares of series C convertible preferred (convertible into about 2.58M shares of common); and 168,333 shares of series D convertible preferred (convertible into about 1.683M shares of common).
- At closing today, Majesco Entertainment's market cap was about $11.2M.
Nov. 3, 2015, 9:50 AM
- Activision Blizzard (NASDAQ:ATVI) is off 2.8% in the wake of last night's surprise announcement that it was buying Candy Crush Saga regents King Digital (KING +14.1%) for $5.9B.
- Cowen's Doug Creutz reiterated his Outperform rating on Activision, calling the deal "an absolute steal for Activision" that "immediately vaults them to being one of the top mobile gaming companies in the world." He has a $35 price target on the stock; just over 4% upside from today's trading of $33.60.
- Meanwhile, Jim Cramer says "If [Activision chief Bobby Kotick] says this is a good deal, it's a good deal."
- With the deal, King may have "solved" its dilemma of how to keep converting players into payers, as the company never quite got beyond the dependence on a single franchise (however lucrative).
- King's mobile and social game rivals are trading up on the acquisition news as well; Glu Mobile (NASDAQ:GLUU) is up 5.2% in early going, while Zynga (NASDAQ:ZNGA) is up 2.5%. Majesco Entertainment (NASDAQ:COOL) is up 6.3%.
Oct. 1, 2015, 5:54 PM
- Majesco Entertainment (COOL +4.9%) has tapped Barry Honig as its new CEO and chairman of the board, and named John Stetson as its new CFO, it says in a new 8-K filing.
- The company also amended subscription agreements for a pair of private offerings over the past year, and authorized exchange agreements for some series C warrants.
- David Rector -- who had just taken over as CEO at a monthly salary early last month -- resigned his CEO post, Gary Anthony resigned as CFO and Laurence Aronson resigned from the board on Sept. 25, the filing says. There were no known disagreements regarding policy or operations.
Sep. 18, 2015, 8:01 PM
- Majesco Entertainment (NASDAQ:COOL) picked up 42.2% into the close on a 118K block, after getting an upgrade from Zacks.
- The analysts lifted their rating to Buy and set a price target of $2.25, a 67% upside from yesterday's closing price of $1.35. Shares wrapped regular trading today at $1.92 -- and then sold off 21.9% after hours, to $1.50.
- Earlier this week, the company posted a narrower loss in its fiscal Q3 results.
Sep. 15, 2015, 10:14 AM
- Game maker Majesco Entertainment (NASDAQ:COOL) is up 6.2% following FQ3 results where it cut losses to $700K while strengthening the balance sheet.
- Revenues declined nearly 63% with a dearth of new titles, and working capital increased to $6.8M as the company sold down inventory, getting out of the retail distribution business.
- Operating losses declined from a previous loss of $2.3M as the company was able to cut expenses for development and marketing.
Sep. 15, 2015, 8:24 AM
Sep. 1, 2015, 4:44 PM
- In an 8-K, Majesco Entertainment (COOL +0.8%) details pay for its new CEO, David Rector.
- Rector will receive monthly salary of $8,500 starting Sept. 1, and was granted 100,000 restricted shares of common stock, to vest in three equal installments on anniversaries.
- The compensation is in addition to options Rector was granted as chairman of the board.
Aug. 7, 2015, 10:28 AM
- Game maker Majesco Entertainment (NASDAQ:COOL) is off 5.7% as it issues a letter to shareholders from recently resigned CEO Jesse Sutton that details the leadership transition as well as updating the company's transition away from retail games.
- "We have reduced our headcount dramatically, and our cash burn, in order to focus on the download business, which is essentially a royalty business where games are downloaded from servers maintained by game companies, such as Valve, Microsoft, Sony and Nintendo," Sutton writes.
- Future quarters will be breakeven to profitable, he says, as the company prepares to launch two titles, Glue and A Boy and His Blob.
- He says he's agreed to stay on as a consultant as new CEO and Chairman David Rector takes the reins. As previously reported, he'll receive a severance payment including 50% of net monthly revenues from that business, up to $10K/month.