CHICAGO -- Playboy Enterprises announced Wednesday it received a warning notice of possible delisting from the New York Stock Exchange.
The company was told it is not in compliance with minimum listing criteria, because its average market capitalization and shareholders' equity over a 30-day period were below $75 million, reports the Chicago Tribune.
Playboy said it will submit a plan within 45 days addressing how it will meet standards within the next 18 months. The company has not yet been delisted and should the NYSE accept the plan, it will continue remain on the exchange, according to financial news outlets, such as The Wall Street Journal.
Market capitalization is value investors ascribe to a corporation. The Tribune explains it is derived by multiplying a company's share price by the number of shares it has outstanding.
As previously reported by AVN.com, Playboy has faced declining revenues in various areas of its business, including a marked loss of advertising for its flagship magazine. In a move to monetize Web opportunities, the company has been increasing its online budget.
As of midday Friday, Eastern Time, Playboy's shares on the NYSE were at $2.48 each, up 10 cents, a 4.2 percent change.
