posted
how come there is so much volume 5.5million. The average volume for the past 13 weeks is 991k
Posts: 115 | From: pittsburgh, pa USA | Registered: Sep 2003
| IP: Logged |
posted
any thoughts on this company? I got interested when there was talk of VOII's patents bailing out Vonage.
Posts: 115 | From: pittsburgh, pa USA | Registered: Sep 2003
| IP: Logged |
posted
something must be up as it has been experiencing volume for several days in a row - stochastics oversold. i bought Friday and am watching closely.
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
| IP: Logged |
posted
VOII is actually holding up pretty well. Seems like it is stablizing at .102.
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
| IP: Logged |
Completion of Acquisition or Disposition of Assets, Triggering Events That Accelerate or
ITEM 2.01 COMPLETION OF ACCQUISITION OR DISPOSITION OF ASSETS On June 27, 2007, VoIP, Inc. (the "Company") and WQN, Inc. (the "Purchaser") executed an Asset Purchase Agreement (the "Purchase Agreement"), pursuant to which the Company sold substantially all of the tangible operating assets utilized by its Dallas, Texas, division, including assets related to the EasyTalk and Rocket VoIP products (the "Assets"), to the Purchaser. The Company's patents and other intangible assets were not sold. A copy of the Purchase Agreement is filed as Exhibit 2.1 hereto.
Pursuant to the Purchase Agreement, the Purchaser acquired the Assets for a purchase price consisting of (1) a cash payment of $400,000; (2) 4% of the defined monthly revenues related to the Assets in excess of $200,000 during the first year following execution of the Purchase Agreement; (3) 3% of the defined monthly revenues related to the Assets in excess of $150,000 during the second year following execution of the Purchase Agreement; and (4) 2% of the defined monthly revenues related to the Assets in excess of $100,000 during the third year following execution of the Purchase Agreement. In addition, the Purchaser assumed the lease of the premises located in Dallas, Texas, currently occupied by the Company. The Company and the Purchaser made customary representations, warranties and covenants in the Purchase Agreement.
The Company's revenues and net loss from the business related to the Assets for the three months ended March 31, 2007 were $1,392,009 and $29,098, respectively. The Company expects to recognize a related loss on the sale of the Assets of approximately $6.9 million in the second quarter of 2007, primarily related to the write-off of goodwill and other intangible assets. Management decided that this business was not in line with its present business strategy.
The foregoing description of the sale of the Assets and the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement.
The Purchase Agreement has been included to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Company or the Purchaser. The Purchase Agreement contains representations and warranties each of the Company and the Purchaser made to the other. The assertions embodied in those representations and warranties are qualified by information in confidential disclosure schedules that the parties have exchanged in connection with signing the Purchase Agreement. The disclosure schedules contain information that modifies, qualifies and/or creates exceptions to the representations and warranties set forth in the Purchase Agreement. Accordingly, investors should not rely on the representations and warranties as characterizations of the actual state of facts at the time they were made or otherwise.
ITEM 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT As previously disclosed in a Form 8-K filed by the Company on June 20, 2007, on June 14, 2007, VoIP, Inc. (the "Company"), issued and sold convertible promissory notes to a group of institutional investors, for a net purchase price of $200,000 in a private placement. On June 19, 2007, the Company issued and sold a convertible promissory note to an institutional investor for a net purchase price of $75,000 in a private placement. The June 14, 2007 convertible promissory notes and the June 19, 2007 convertible promissory note are hereinafter referred to as the "Convertible Notes."
The Convertible Notes were due on June 25, 2007. Per the terms of the Convertible Notes, since these notes were not paid, the common stock conversion rate was automatically reduced from $0.12 to $0.08 per share.
A number of the Company's existing financing agreements contain "favored nations" pricing provisions such that for future securities offerings by the Company at a price per share less than the contractual common stock conversion or warrant exercise rates, those investors' conversion or exercise rates would be adjusted to the lower offering price. As such, their applicable common stock conversion rates and warrant exercise prices were effectively reduced to $0.08 per share as a result of the nonpayment described above. The effect of such reduction was to increase the number of fully diluted shares of common stock of the Company by approximately 110 million common shares, to a total of approximately 604 million common shares. The Company incorporates by reference its Form 10-Q filed on May 15, 2007 concerning the price ratchet effect on the derivative securities previously issued that have "favored nations" provisions. The Company will need to obtain shareholder approval to increase its authorized shares of common stock to enable the Company to issue the shares of common stock upon potential conversion and exercise by its existing convertible note, warrant and option holders.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits
2.1 Asset Purchase Agreement, dated as of June 27, 2007, by and between VoIP, Inc., and WQN, Inc.
Posts: 115 | From: pittsburgh, pa USA | Registered: Sep 2003
| IP: Logged |
posted
Has anyone tried this? it really works!! free long distance calls to anywhere from your home phone or cellphone. You enter the number you want to call, then the number you're calling from, and the site makes the connection for free. The connection is crystal clear. This would be great for folks deployed in iraq or afghanistan. Anywhere overseas for that matter. If you know anyone who can use the service pass it along, it's free. For now!!!
Press Release Source: VoIP, Inc.
VoIP Launches Click4Me Communications Portal Tuesday July 10, 9:33 am ET
ORLANDO, Fla.--(BUSINESS WIRE)--VoIP, Inc. (OTCBB: VOII - News) announced today that it has launched a beta version of Click4Me, a free web-click calling service available at the Company's new portal www.click4me.net. The new technology showcases various technology features of VoIP's network. VoIP has been developing customized applications for SIP, IP, TDM and other projects for over five years. Click4Me allows users to connect to others through free calls without using the PC for actual voice communications, unlike virtually all other web enabled calling services. In addition, there is no need for a person contacting a registered click4me user to be a registered user as well. Click4Me also offers email, instant messaging and other popular calling features.
Click4Me actually connects the callers together, so that both can be at home phones, cell phones, etc. With inbound minutes free on many cellular plans, the calls will cost virtually nothing. Additionally, anyone using a cell phone with web access can browse to www.click2me.us, and a mobile web page version is available for them to enter an ID or email address. Click4Me also provides many useful user settings which can be maintained on the MY SETTINGS page after logging in. Additionally, registered users can also OUT DIAL.
"We believe the beta launch of Click4Me.net represents the first step in creating a feature-rich communications portal," said Shawn Lewis, VoIP, Inc.'s Chief Technology Officer. "With the popularity of web calling increasing, we believe our ability to offer free calling, without the need to route calls through a PC, will increase the value of our offerings significantly and help us develop a community quickly which will be attractive to advertisers and will allow us to generate revenue by offering enhanced services."
Posts: 115 | From: pittsburgh, pa USA | Registered: Sep 2003
| IP: Logged |
posted
They are voting for a 1 for 20 reverse stock split on August 14, 2007. The stock is already at .055, can anyone predict if the stock will rise after the reverse, stay the the same, or drop?
Posts: 115 | From: pittsburgh, pa USA | Registered: Sep 2003
| IP: Logged |
posted
My advice would be check with the T/A for the current A/S and O/S. If the O/S is close to the A/S, then they are likely R/Sing so they have more shares with which to dilute. These tend to drop after reverses because of that, but a R/S by itself can also drop the price just because of the negative connotation.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
| IP: Logged |
posted
Thanks. the oustanding shares are 143million and the float is 123million. I'm personally sitting on 60,000 shares which would take me to 3,000 after the reverse. I've learned a hard lesson, never bet on a hunch!!!
Posts: 115 | From: pittsburgh, pa USA | Registered: Sep 2003
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
