Wednesday, August 02, 2006

Primus, Lingo Delisted

More happy news from the VOIP world: "Primus Telecommunications Group, owner of the Internet telephony company Lingo, failed to meet the Nasdaq Stock Market's $1 minimum bid pricing requirement, and was delisted as of July 28, 2006. The company's common stock will trade on the Over-the-Counter Bulletin Board, and the company's securities continue to be traded on the NASD Pink Sheets. Primus' stock nose-dived from a high of about $13.3 in early 2004, to $0.41 as of press time on July 28, 2006." Highlights from 2Q06 include net revenue of $252M; "The Company reported a net loss for the quarter of ($199) million, including ($223) million of non-cash asset impairment write-down and loss on sale or disposal of assets charges."

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