Summary of 4 KIDS ENTERTAINMENT INC

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard; Transfer of Listing.
On April 7, 2009, 4Kids Entertainment, Inc. (the "Company") received written notice from NYSE Regulation, Inc. that the Company had fallen below the continued listing standard of the New York Stock Exchange, Inc. ("NYSE") set forth in Section 802.01B of the NYSE Listed Corporation Manual because over a 30 trading-day period the Company's total market capitalization was less than $75 million and, at the same time its stockholders' equity was less than $75 million. As of March 31, 2009, the Company's 30 trading-day average market capitalization was approximately $16.5 million. The Company's last reported stockholders' equity was $74.99 million as of December 31, 2008, which reflected the impact of the Company recording an unrealized loss of $13,486,000 during 2008.
Under NYSE rules, the Company has 45 calendar days from receipt of the notice to submit a plan that demonstrates its ability to achieve compliance with the continued listing standard within 18 months. The Company has notified the NYSE of its intent to submit a plan to remedy its non-compliance. The business plan will be reviewed by the Listings and Compliance Committee of the NYSE (the "Committee"). The Committee will either accept the plan, at which time the Company will be subject to quarterly monitoring for compliance with the business plan, or the Committee will not accept the business plan and the Company will be subject to suspension and delisting procedures. The Company is also at risk of falling below the $15 million minimum average market capitalization threshold set forth in Section 802.01B of the NYSE Listed Corporation Manual, which would pre-empt the plan/cure process described above and result in immediate initiation of suspension and delisting procedures.
As required under NYSE rules, the Company issued a press release on April 14, 2009 disclosing that it had received the notice and that the Company intends to submit a plan to attain compliance with the NYSE continued listing standards. A copy of the press release is attached to this Form 8-K as an exhibit.