4 telecoms about to be delisted.(Science Dynamics, Network Connection, Global Technologies, Internet Cable Corp.)(Statistical Data Included)(Industry Overview)

Four Philadelphia-area telecommunications companies are facing a delisting by the Nasdaq.

Should they fail in their appeals -- three of them are fighting the decision -- these smaller telecom outfits are sure to have a tough time raising funds, rebounding from failed mergers or recovering lost customers.

Broadband entertainment company The Network Connection Inc. is, for now, accepting its delisting.

However, holding company Global Techologies Ltd. and telephony developer Science Dynamics Corp. said they'll try to keep their shares listed.

None of the three meet the' matrix of minimum requirements to remain listed, and all have share prices below $1.

The fourth company, cable infrastructure builder Internet Cable Corp., said it soon will file its annual report to return to the Over-the-Counter Bulletin Board from the so-called pink sheets, where it now trades -- though just barely.

Delisting can make it harder for cash-strapped telecoms to raise money, and a company's liquidity suffers, said Richard S. Kraut, a securities lawyer and partner with Dilworth Paxson's …