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Great article............ 
Only Lazzard knows what is going on. But trust me the previous run was a precurosr of what is going to happen in few days
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Date Reg SHO Threshold Flag Rule3210 Flag Nov 1, 2007 Yes No Oct 31, 2007 Yes No Oct 30, 2007 Yes No Oct 29, 2007 Yes No Oct 26, 2007 Yes No Oct 25, 2007 Yes No Oct 24, 2007 Yes No Oct 23, 2007 Yes No Oct 22, 2007 Yes No Oct 19, 2007 Yes No Oct 10, 2007 Yes No Oct 9, 2007 Yes No Oct 8, 2007 Yes No Oct 5, 2007 Yes NoTransfer Agent: American Stock Transfer & Trust Company, 59 Maiden Lane New York, NY 10038 Company Contact Information: Corporate Headquarters 1010 Wisconsin Avenue Suite 600 Washington, DC 20007 http://corp.inphonic.com/pages/index.asp Investor Relations e-mail: investor@inphonic.com Phone: (202) 333-0001 Media & Analyst Relations e-mail: media@inphonic.com Management Team: Andy Zeinfeld Chief Executive Officer Andy Zeinfeld joined InPhonic in April 2006 as President of E-Commerce and was appointed Chief Executive Officer in October 2007. Prior to joining InPhonic, Zeinfeld served as RadioShack's Senior Vice President and Chief Retail Services Officer. A 28-year veteran of RadioShack, Zeinfeld is a widely recognized and respected leader in the wireless industry. During his time with RadioShack, Zeinfeld oversaw one of the largest wireless and communication service distribution programs in the United States, and maintains strong relationships with the largest carriers and manufacturers in the World. He joined RadioShack in 1978 as a sales associate and has also served the company as a computer marketing representative, computer center manager, district manager, director of leasing, senior director of leasing, and vice president RadioShack specialty retail group. Kenneth Schwarz Chief Financial Officer Kenneth Schwarz joined InPhonic in July 2007. Over an extensive career, Mr. Schwarz has held several executive roles in finance and operations across the technology and telecommunications industries. Before joining InPhonic, Mr. Schwarz served in senior executive positions, including CFO and subsequently President of Consumer Solutions at Intersections Inc. Prior to Intersections, Mr. Schwarz served as senior vice president of finance and information technology for WinStar Communications, and held executive positions with Cable & Wireless, Unitel Communications and MCI Communications. At MCI, Mr. Schwarz served as vice president and corporate controller. He is a C.P.A. who also previously worked as an auditor with Deloitte & Touche LLP. He holds a B.S. and M.B.A. from Indiana University. Gary J. Smith Chief Information Officer Gary J. Smith has served as our chief information officer and executive vice president since July 2000. From July 1999 to July 2000, Mr. Smith served as chief information officer and vice president of technology of Varsity Group Inc. (formerly known as VarsityBooks.com, LLC) an online retailer of new college textbooks. From September 1987 to July 1999, Mr. Smith served in various technology management positions at Discovery Communications Inc., an international media company, including most recently vice president of technology. Mr. Smith holds a B.S. from the University of Maryland. Frank C. Bennett III Chief Strategy Officer and President of MVNO Frank C. Bennett III has served as our president, MVNO services and chief strategy officer since March 2004. From March 2002 to March 2004 he served as InPhonic's chief operating officer. From August 2000 to August 2001, Mr. Bennett was senior vice president and group operations officer for the retail group of Verizon Communications Inc., a communication service provider. From October 1999 to August 2000, Mr. Bennett served as vice president, e-commerce and technology of Bell Atlantic Corporation (now Verizon Communications). From February 1998 to October 1999, he was vice president, customer billing of Bell Atlantic Corporation. In addition, from July 1996 to December 1998, Mr. Bennett served as a founder and vice president, call center development of Bell Atlantic Plus, a provider of bundled wireline and wireless services. Mr. Bennett holds a B.A. from the University of Virginia and an M.B.A. from The Wharton School of the University of Pennsylvania. Brian T. Westrick President of Wireless Activation and Services Brian T. Westrick has served as president of our wireless activation and services division since March 2004 and has held various other executive-level positions since joining us in June 2000. From December 1994 to June 2000, Mr. Westrick was vice president of sales and marketing for Universal Jet Trading, an international jet aircraft brokerage firm. From July 1991 to December 1994, Mr. Westrick was marketing director for Lease Audit and Analysis Services, a real estate consulting company. From June 1990 to July 1991, Mr. Westrick was a marketing representative with Xerox Corporation. Mr. Westrick holds a B.S. from the Wallace E. Carroll School of Management at Boston College. Walter W. Leach, III General Counsel and Secretary Walter W. Leach, III has served as our general counsel since January 2001. Mr. Leach served as corporate counsel of Snyder Communications, a marketing and communications solution provider from June 1997 to January 2001. From October 1992 to June 1997, Mr. Leach served as deputy corporate counsel for Inductotherm Industries, Inc., a privately held manufacturer. Mr. Leach holds a B.A. from Syracuse University and a J.D. from Vermont Law School. Board of Directors: http://investor.inphonic.com/profiles/investor/Directors.asp?sm_quote_field=&CName=&BzID=1461 News Items: Oct 24, 2007 - Filed 8K - Change in Directors or Principal Officers, Amendments to Articles of Inc. or Bylaws http://biz.yahoo.com/e/071024/inpc8-k.html Oct 11, 2007 - InPhonic Announces Appointment of Lazard as Financial Advisor -- Third Quarter 2007 Results to Fall Below Guidance http://news.inphonic.com/Pages/press_corporateDetail.asp?id=270 Sep 21, 2007 - InPhonic Promotes Andy Zeinfeld to CEO http://news.inphonic.com/Pages/press_corporateDetail.asp?id=267 Sep 10, 2007 - Ritz Interactive Selects InPhonic to Manage Wireless Category http://news.inphonic.com/Pages/press_corporateDetail.asp?id=265 Sep 5, 2007 - Brightstar and InPhonic Sign Definitive Agreement to Form Strategic Alliance -- New Alliance Sets Stage for Expanded Sales Opportunities and Better Operational Efficiencies for Both Companies -- http://news.inphonic.com/Pages/press_corporateDetail.asp?id=263 Aug 9, 2007 - InPhonic Announces Second Quarter 2007 Financial Results http://news.inphonic.com/Pages/press_corporateDetail.asp?id=260 Aug 9, 2007 - Brightstar and InPhonic Forge New Strategic Alliance http://news.inphonic.com/Pages/press_corporateDetail.asp?id=261 Jul 31, 2007 - InPhonic Schedules Second Quarter 2007 Earnings Conference Call http://news.inphonic.com/Pages/press_corporateDetail.asp?id=259 Jul 18, 2007 - InPhonic Names New Chief Financial Officer http://news.inphonic.com/Pages/press_corporateDetail.asp?id=256 Jun 20, 2007 - InPhonic First Quarter 2007 Earnings Conference Call http://news.inphonic.com/Pages/press_corporateDetail.asp?id=251 SEC Filings http://investor.inphonic.com/profiles/investor/secxml.asp?f=1&BzID=1461&to=sc&Nav=0&LangID=1&s=0 Company Issues: 1) The Company also announced that its financial results for the third quarter 2007 are significantly below previously announced guidance. “Our results for the third quarter did not meet our expectations. We have taken significant cost-cutting steps and are working with Lazard to address our financing requirements. The Company requires funding to continue operations, fund our losses incurred to date and to transition our operations to achieve profitability,” said Ken Schwarz, InPhonic’s Chief Financial Officer. “This has been a turbulent year for InPhonic. We believe the critical changes that we have already begun to implement are necessary for our ongoing business and to achieve profitable operations, but we cannot provide any assurance that we will receive the funding required in the near term to continue these changes for the business.” Management will provide a revised outlook on financial condition and operational changes at a later date. 2) Brightstar Termination The Company also announced the termination of the proposed Brightstar supply chain services partnership which was announced last month. “While I am disappointed the Brightstar deal could not be implemented, we believe that there continue to be potential opportunities for us to work together,” said Andy Zeinfeld, InPhonic’s CEO. 3) Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement On October 5, 2007, the Company received of a notice of default and reservation of rights from its secured lenders under that certain Credit Agreement, dated November 7, 2006, as amended (the “Credit Agreement”). The events of default include (i) failure to pay interest on the loans on October 1, 2007; (ii) failure to conclude the Inventory Transaction (as defined in the Credit Agreement); and (iii) failure to enter into a definitive agreement to provide for the outsourcing of the Company’s inventory management, logistics and fulfillment obligations by October 5, 2007. The lenders reserve their right to exercise any and all available rights and remedies available under the Credit Agreement. To date, the Company has not received notice that the lenders have exercised any such rights or remedies. Company Solutions: 1) Senior Management Restructuring On October 1, 2007, Andy Zeinfeld was promoted by the Board of Directors to assume the role of Chief Executive Officer. Mr. Zeinfeld came to InPhonic last year after 28 years with RadioShack Corporation where he had most recently served as Chief Retail Services Officer. In July 2007, Ken Schwarz was named InPhonic’s Chief Financial Officer after a financial career that spanned more than twenty-five years at public and private companies including MCI, Cable & Wireless, WinStar Communications, Intersections and Deloitte & Touche. InPhonic has also terminated Brian Curran as the Company’s Chief Operating Officer. The Company has reassigned Mr. Curran’s responsibilities across existing business divisions as part of a more streamlined operating structure. 2) Board of Directors has selected Lazard Middle Market to conduct, in conjunction with management, a full review of the Company’s financing and strategic alternatives to increase the Company’s cash liquidity and to maximize shareholder value. These alternatives could include a re-financing of existing credit arrangements, merger, sale, strategic alliance or other transaction. “We believe Lazard will provide us critical financial advisory services as we explore different strategic directions for the Company,” said Andy Zeinfeld, Chief Executive Officer of InPhonic. Lazard is one of the world’s preeminent financial advisory and asset management firms. The firm provides advice on mergers and acquisitions, restructuring and capital investment, as well as strategic financial services to corporations and governments. Lazard http://www.lazard.com/ Lazard is a preeminent international financial advisory and asset management firm that has long specialized in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, partnerships, institutions, governments and high-net-worth individuals. Our Financial Advisory business provides advice in connection with a wide range of strategic and financial matters that are typically of great importance to our clients. Our goal is to continue to grow our business by fostering long-term, senior-level relationships with existing and new clients as their independent advisor on strategic transactions such as mergers, acquisitions, restructurings and other financial matters. 3) No current action against the company exists from it's creditors at this time. This issue is being addressed by the new management under guidance from Lazard and details will be released when available. 4) Fourth Quarter 2007 financial statements are expected to improve based on current company performance.
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