Friday, March 23, 2007

McLeod to IPO

McLeod after 2 BK's has decided to file for an IPO. They must figure if Vonage can make some coin with an IPO (and then subsequently sink), then so can they. "As McLeodUSA notes in its SEC filing, “We have never been profitable and we may not be profitable in the future.” In 2006, the company recorded a net loss of $28.3, but that was a substantial improvement over the two previous years. “We have only recently generated sufficient cash flow from operations to fund our expenses and may not continue to do so in the future,” the company wrote." [phone+]

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