ObjectShare Expects Stock to Be Available

ObjectShare Inc. said it expects its stock to resume trading today on the Nasdaq market.

Nasdaq temporarily halted trading Feb. 17, when the Irvine software maker announced a delay in filing its results for the third fiscal quarter and said it would have to restate results for the first two quarters because of an internal accounting problem. The stock closed at $1.06 a share on Feb. 16.

On Feb. 23, the company reported that it lost $1.1 million in the third quarter, more than double its losses a year earlier, and that its restated results for the first two quarters showed losses rather than small profits reported previously. The company said the discrepancies occurred, in part, because software industry changes in accounting procedures had not been followed.

The company said it has submitted information requested by Nasdaq. Market officials notified the company that it doesn’t meet minimum asset requirements for continued listing on the Nasdaq National Market. But the company has requested a hearing to discuss its listing status.