No Joke: Lampoon Gets Delisting Warning

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National Lampoon Inc. said Thursday that it has been notified by the American Stock Exchange that the company does not meet continued listing standards and must present the exchange with a specific plan to achieve and sustain compliance by March 27.


The West Hollywood-based media and entertainment company said it has been given a compliance deadline of August 27.


“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.”


National Lampoon said that it is not in compliance because it has sustained losses, which have totaled $23.8 million over the past three years. The humor company has become so impaired that it appears questionable, in the opinion of the American Stock Exchange, whether it may be able to continue its operations.


Shares in National Lampoon were down 1.6 percent in early trading Thursday on the Nasdaq.

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