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.