From a Aug. 21 PRNewswire-FirstCall release Movie Gallery Inc. (MOVI) has been given till February 11, 2008 to bring their share price above $1. The second letter gives them till November 15, 2007 to bring their minimum market value up to $15,000,000. If they can not meet NASDAQ's minimum requirement to maintain an OTC stock listing, they will be delisted and the stock will move to Pink Sheet heaven.
This site has had a rash of inquiries looking for info concerning the possibility of lay offs or of a bankruptcy. That usually happens just prior to a major announcement.
I posted this at 4 AM so it would be out first thing.
You can read the PRNewswire here. My previous articles:
Movie Gallery & Hollywood Video Gets Extension
Movie Gallery Parent Of Hollywood Video Will Be Adding Pink Slips To Their Shelves