The full board of Directors of Motorsport Games has resigned
The studio’s management could not agree with its main shareholder Motorsport Network on where to get funding. This is stated in a report for the U.S. Securities and Exchange Commission.
Now Motorsport Games faces exclusion from NASDAQ. To avoid delisting, the studio must provide the exchange with a plan to find new independent directors within 45 days.
Note that in the summer, NASDAQ already warned developers about the risk of delisting, but then the problem was too low a stock price — less than a dollar apiece. Now one share of Motorsport Games can be bought for $6.9.
