INX, a Houston-based IP communications and data center service provider with 20 offices nationwide and six in Texas, announced that the company has been formally delisted from the NASDAQ trading market. The action follows a suspension of the company’s stock on April 14.
The suspension was due to non-compliance with financial reporting obligations to the Securities and Exchange Commission (SEC). NASDAQ is filing a Form 25 with the SEC to complete the delisting, which will become effective ten days after the form is filed.
NASDAQ determined the delisting to be appropriate following a 45-day waiting period.
INX said it immediately filed papers to relist the firm’s stock on NASDAQ but is now trading over the counter as INXI until a decision is made.
Common stock in the company is currently being reported by OTC Markets Group Inc., which operates the world’s largest electronic marketplace for brokers and dealers to trade unlisted stocks. Investors are able to view real-time level II stock quotes for INXI here.
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