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FFH5
Premium
join:2002-03-03
Tavistock NJ
kudos:5

And the Shareholder suits haven't even started yet

Vonage, which first sold shares to the public for $17 each in May 2006, also faces suits from investors. They say the company's prospectus misrepresented or omitted information about its products and the experience of some managers.
The IPO was for $17/sh and the shares are selling for $2.13/sh now. Those suits and the banks wanting their money on the loans could sink Vonage by mid year 2008.
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bngdup

join:2007-02-20
Old Bridge, NJ
Ahh yes the armchair accountant who keeps extending his "Vonage is Dead" prediction on each post.

I can make up arbitrary dates too!

Vonage's various legal and financial troubles could bring it down by March of 2009.....see its real easy


supergirl

join:2007-03-20
Pensacola, FL
reply to FFH5
said by FFH5:

Vonage, which first sold shares to the public for $17 each in May 2006, also faces suits from investors. They say the company's prospectus misrepresented or omitted information about its products and the experience of some managers.
The IPO was for $17/sh and the shares are selling for $2.13/sh now. Those suits and the banks wanting their money on the loans could sink Vonage by mid year 2008.
If Vonage has only about $155 million in cash, how will they pay it and keep operations going at their ridiculous ad rate expenditures?

Firing Citron would be a good idea. Not sure if any manager with brains would want to run this loser.
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Saving the world keeps me busy. However, I find Earth very primitive from my home planet of Krypton.
-Supergirl

dualsub2006

join:2007-07-18
Newport, KY
said by supergirl:

If Vonage has only about $155 million in cash, how will they pay it and keep operations going at their ridiculous ad rate expenditures?
$98 million of this is already set aside:

»pr.vonage.com/releasedetail.cfm?···D=271491

I don't recall all of the details, but the appeal or something was only allowed because they had set aside $66 million or something and then they were required to make quarterly escrow payments on top of that.

The other $22 mil or so will come out over time.