Advocat Inc. Stock Has Been Delisted from Berlin-Bremen Stock Exchange at the Company's Demand.FRANKLIN, Tenn. -- Advocat Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AVCA AVCA American Volleyball Coaches Association AVCA American Veterinary Chiropractic Association AVCA African Venture Capital Association AVCA Almaden Valley Community Association AVCA Automobil Veteranen Club Austria AVCA Apoyo Vital Cardiopulmonar Avanzado ) today announced that it has succeeded in having its stock removed from trading on the Berlin-Bremen Stock Exchange. Advocat is one of many American companies whose stock was listed on the foreign exchange without their knowledge or authorization. As previously announced, Advocat sought delisting from the Berlin-Breman Stock Exchange because Advocat's management believes that certain investors may have been using the listing on the Berlin Exchange to engage in a practice known as "naked short selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. " that is now banned in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The suspension in trading of Advocat's stock on the Berlin-Bremen exchange was effective as of the close of Berlin-Bremen market on June 28, 2004. Advocat continues to trade under the symbol "AVCA" in the United States on the NASDAQ Over The Counter Bulletin Board. Investors interested in obtaining shares of Advocat should purchase their shares only from authorized broker-dealers who will execute trades on the Over The Counter Bulletin Board. Forward-looking statements made in this release involve a number of risks and uncertainties, including but not limited to, uncertainty regarding the Company's ability to restructure or refinance its debt, the impact of under-insured professional liability claims, factors affecting the long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. industry in general, governmental reimbursement, government regulation, health care reforms, the impact of future licensing surveys, changing economic and market conditions and other risk factors detailed in the Company's Securities and Exchange Commission filings. Advocat Inc. is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services. Advocat Inc. provides long-term care services to nursing home patients and residents of assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facilities in nine states, primarily in the Southeast. |
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