4Kids Entertainment Faces NYSE Delisting
Humberto Saabedra4Kids Entertainment faces possible delisting from the New York Stock Exchange after receiving notice that its capitalization is lower than the minimum required to be listed on the exchange.
This follows poor financial results due to the abject failure of its internally developed Chaotic multimedia property comprising a collectible card game and companion animated series along with losses related to investments in failed investment firm Lehman Bros. which totalled $20 million for the previous quarter, forcing the company to explore a possible sale along with other alternatives.
4Kids previously announced a return to its licensing and adaptation model with the acquisition of the Tai Chi Chasers 39 episode anime series with the company attempting to sell the series to interested broadcasters for a possible 4Q 2011 launch.