XO Finances

This article on seeking alpha describes the shareholder feud taking place at XO Holdings as interest on debt mounts; shares dilute; and cash burns.

"With $1.41 billion annual revenue and Carl Icahn – the billionaire investor and self-claimed crusader for shareholder activism and good corporate governance - as its majority shareholder (60% common and 90% of debts) and the Chairman of Board, this company and its stock has been operating obscurely in the bulletin board for years." "According to its 10-K, XO Communications, the business before bankruptcy, accumulated $2.89 billion in Net Operating Losses since its establishment eight years ago."