Vestin Realty Mortgage I Inc. in Las Vegas said it will seek to remove its common stock from trading on Nasdaq.
Vestin decided to delist and deregister its stock because of "the large costs of preparing and filing periodic reports with the [Securities and Exchange Commission]; the increased outside accounting, audit, legal, and other costs and expenses associated with being a public company; the burdens placed on company management to comply with reporting requirements; and the low trading volume in the company's common stock," it said in a Tuesday news release.
After it is delisted, the stock will trade on the Pink Sheets.
Vestin Realty Mortgage I, which had $17 million of assets at Sept. 30, is managed by Vestin Mortgage.
