Midway has received word from the New York Stock Exchange that they are dangerously close to being delisted. As of now, their stock is hanging around $0.29, a good $0.71 short of the necessary $1.00 required to stay on the Stock Exchange. After this notice, they have six months to comply and raise their stock – something easier said than done, especially in the current economic state.

Well, what does Midway have coming out that could save them? The holiday season will surely bump their numbers with some finding Mortal Kombat vs. DC Universe under the tree, and The Wheelman and This is Vegas should be out soon… there is no way they will make it, is there? Unless MK vs. DC really kicks the crap out of the holidays I think we should prepare ourselves for Midway to go the way of the dodo. Here's the press release, and be sure to get your 40's  ready for pouring.

CHICAGO — November 20, 2008 — Midway Games Inc. (NYSE: MWY) announced today that on November 14, 2008, the Company received notification from the New York Stock Exchange (NYSE) that it has fallen below the standard for continued listing of its common stock on the NYSE that requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.

Under NYSE rules, the Company has a period of six months from the date of the notice, subject to possible extension, to cure the deficiency. During this cure period, the Company’s shares will continue to be listed and traded on the NYSE. The Company plans to notify the NYSE that it will seek to cure the deficiency.

The Company’s business operations and Securities and Exchange Commission reporting requirements are unaffected by this notice.

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