The Nasdaq Stock Market on Wednesday said it will delist the stocks of four small companies.
Nasdaq will file the necessary paperwork with the Securities and Exchange Commission to complete the delistings, which will become effective 10 days later. In all four cases, however, the stocks have already stopped trading on the Nasdaq.
Trading in South Texas Oil Co., an independent energy company based in San Antonio, Texas, was halted Nov. 6 and suspended four days later, after the company filed for Chapter 11 bankruptcy protection.
Trading in Advanta Corp.'s stock was suspended Nov. 18. The Spring House, Pa.-based business credit card provider filed for Chapter 11 bankruptcy protection on Nov. 8.
Nasdaq suspended trading in shares of Vuance Ltd. on Oct. 1, because the company no longer met minimum shareholder equity requirements. It transferred its stock to the over-the-counter market that day.
Trading of Natural Health Trends Corp.'s shares was suspended Nov. 11, also because it no longer met minimum the stockholder's equity requirement. It likewise transferred to the over-the-counter market.