|Two Worlds' SouthPeak exit NYSE|
|Posted: 19.09.2011 11:31 by Simon Priest||Comments: 1|
Two Worlds II publisher SouthPeak Interactive have delisted from the New York Stock Exchange because benefits are "outweighed by the associated costs."
They'll rethink the move if "economic conditions and circumstances" change, but otherwise they'll stay gone. Two Worlds II and My Baby brought a profitable Q3.
It was a much better performance in Q3 than Q2 where they posted a net loss of $2.1 million. SouthPeak have also been dogged by financial and legal issues over recent years, which include claims of unpaid royalties from CDV Software and Paradox Interactive.
"The benefits of having publicly registered shares and filing periodic reports under the federal securities laws are outweighed by the associated costs," read a statement.
"Should economic conditions and circumstances change in the future, the Company may re-evaluate this position." The lawsuit against CDV resulted in 40k units of stock be seized to raise money. Have you enjoyed SouthPeak's sequel RPG Two Worlds II?