News: NatLamp in danger of being delisted

Acording to the Los Angeles Business Journal, the National Lampoon is in danger of being delisted from the American Stock Exchange for not meeting the listing standards. The reason is they've had losses of $23.8 million over the last 3 years, according to the article. They have until March 27 to present a compliance plan and until August 27 to achieve compliance.

“We have come a long way building our businesses and growing our revenues, and we are finally seeing the results of this,” Daniel Laikin, National Lampoon’s chief executive, said in a statement. “We are already in the process of strengthening our balance sheet through exercise of warrants and conversion of preferred dividends and stock, along with the revenue growth from our film and online media divisions, which will all be part of the plan we submit.”

This isn't anything new; the Lampoon has had financial problems for years, constantly losing money, and pretty much every year, they say they're on the way to turning their fortunes around. I'm also pretty sure this isn't the first time that they've been in danger of being delisted. Personally, I think they should never have even brought the company public. Nobody's going to want to buy stock in a company that's constantly losing money!

Source: Los Angeles Business Journal