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Yesterday, the NASDAQ Listing Qualifications Panel delisted North American Technologies Group Inc.’s (NATK) common stock from the NASDAQ SmallCap Market.

The panel previously listed the stock on the condition that on or before June 15, NATK shares close at a bid price of at least $1 per share and maintain a bid price of at least $1 per share for a minimum of 10 consecutive trading days. In addition, NATK stockholders' equity had to equal at least $2.5 million. NATK was unable to meet those requirements, according to a prepared statement.

The company — which through its TieTek subsidiary markets plastic composite ties — expects its common stock to be traded on the Over the Counter Bulletin Board under the symbol NATK-BB.