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The Associated Press
PITTSBURGH (AP) -- The delisting of Noxso Corporation form the Nasdaq Stock Market is the latest blow in two weeks to the recycling company's attempts at commercialization.
The company, which employs 12 people, is trying to market its process for capturing sulfur and other acid-rain-causing pollutants generated at coal-fired plants.
Nasdaq will drop the stock Thursday because Noxso could no longer meet the listing requirement of $1,000,000.
Noxso officials will not contest the delisting but expect the shares to continue trading on the electronic bulletin board.
Just two weeks ago, Noxso entered Chapter 11 bankruptcy protection under the supervision of a federal judge in Tennessee.
Creditors of the cash-strapped company began involuntary bankruptcy proceedings against Noxso in February.
A Noxso spokesperson said the company is starting a reorganization plan and the delisting is only temporary until certain projects begin to pay off.