Verso Technologies, Inc. (fka VRSOQ)

[Renee]

VRSOQ: Plan of Bankruptcy effective. All shares cancelled:

http://www.otcbb.com/asp/dailylist_detail.asp?d=03/18/2013&mkt_ctg=NON-OTCBB

[IamtheWalrus]

Have you noticed the spike here the last couple of days?

[IamtheWalrus]

Waiting.......

[JoeBlack]

Bankruptcy or Receivership, Triggering Events That Accelerate or Increase
http://biz.yahoo.com/e/080429/vrsoq.pk8-k.html

[JoeBlack]

MAJOR DIRECT HOLDERS (FORMS 3 & 4)

Holder Shares Reported
GREENWALD EDWARD KENNETH 3,198,000 26-Dec-07
SLOWINSKI DONALD J N/A 27-Jun-06
KANELY JAMES R 180,000 21-Aug-07
DUNAWAY MARK H 161,825 16-Oct-07
NEWMARK L AMY 151,500 5-Nov-07

[JoeBlack]

Form 8-K for VERSO TECHNOLOGIES INC

http://biz.yahoo.com/e/080429/vrsoq.pk8-k.html

[JoeBlack]

VERSO TECHNOLOGIES INC Financials


http://finance.yahoo.com/q/is?s=vrsoq.pk

[IamtheWalrus]

A must see

up 1% from last month in holdings

http://www.cnbc.com/id/15837275?q=vrsoq

[MasterBlastr]

I noticed Hudson HDSN was on the ask at .01 earlier today so that was a good sign. We had good volume today even though we were grey. I think a few people let go of their shares a little too low. Will see ! There is still a lot of short covering, and warrant position unwinding, a lot of cleanup work to do regardless of what the company is doing. Lets hope for a little volatility so we can flip it for a few bucks anyway. GLTA

[everett7]

No longer on Grey Market, check it out, regular pink sheets - hope this means we can see bid/ask tomorrow!

http://pinksheets.com/pink/quote/quote.jsp?symbol=vrsoq

[MasterBlastr]

Looks like some weakie panicked. This will trade .01 - .03 for now.

[everett7]

First trade .0001 cents??? 4000 shares? Are you freaking kidding me? Is this how the grey market is? F this, I'm holding all my shares.

[MasterBlastr]

Looks like the Yahoo board may be going away so here is the backdoor to it which should be good for a while.


http://tinyurl.com/5ocyu8

[everett7]

Anybody out there? Any word on resumption of trading? I tried to contact the company but no luck. I'm hoping after May 7 we go to the pinks.

[amc]

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYzb_NMljf8s

[trder1]

and still being sold off!

[TrevorInAustin]

hmmm should be good for a double or triple from here...way oversold

[GoldenZ]

.<font color=black>** More VRSO NEWS!

Verso Files For Chapter 11 Bankruptcy Protection >VRSOLast update:

4/28/2008 6:41:58 PMDOW JONES NEWSWIRES Verso Technologies Inc. (VRSO) and several of its units filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court, Northern District of Georgia. The Atlanta managed network services company said it expects to be a debtor-in-possession under the jurisdiction of the bankruptcy court and anticipates filing a plan of liquidation. Verso named John L. Palmer of NachmanHaysBrownstein Inc. chief administrative officer of the company.

-Jennifer Hodson; 201-938-5400; [e-mail] (END) Dow Jones NewswiresApril 28, 2008 18:41 ET (22:41 GMT)

[Art2Gecko]

guess that explains the massive dumping today.

[GoldenZ]

.<font color=black>** More VRSO NEWS

Verso Tech Appoints Palmer As Chief Administrative OfficerLast update: 4/28/2008 6:31:10 PM

(MORE TO FOLLOW) Dow Jones Newswires

[GoldenZ]

.<font color=black>** VRSO NEWS

Verso Files Voluntary Petition For Chapter 11 Bankruptcy Protection

(MORE TO FOLLOW) Dow Jones Newswires

[IamtheWalrus]

Consolidating strong

[retireat40]

.14x.15 Moving on news...earnings tomorrow.

[JoeBlack]

Apr-08-2008 DOJI

http://www.stockta.com/cgi-bin/analysis.pl?symb=VRSO&num1=15&cobrand=&mode=stock

[JoeBlack]

Verso Appoints Steve Langion to Senior Vice President, General Manager -- Softswitch and Access Business Units

ATLANTA, March 13, 2008 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (NasdaqCM:VRSO - News), a global provider of next generation network solutions, announced today that it has appointed Steve Langion to the position of Senior Vice President and General Manager of both the Softswitch and Access business units, representing technologies that have accounted for approximately 50% of Verso's revenues. In this capacity, Langion will be responsible for managing Verso's VCLEAR(tm) VoIP, iMarc(r), Verilink(r), and I-Master(r) product lines.
ADVERTISEMENT


Prior to this appointment, Langion was Verso's Senior Vice President of Engineering. He began his career at Bell Labs after graduating with a Masters degree in Computer Science from the University of Southern California and a Bachelors degree in Computer Science from the Polytechnic Institute of New York. After Bell Labs, Langion worked for Evolving Systems, Inc. managing the business unit that developed first generation wireless data switching products for Lucent. He later founded a technology company that was acquired by Clarent Corporation. After that acquisition, Langion became Vice President of Engineering for Clarent until Verso acquired Clarent in 2003.

``Steve is one of our hardest working and most skilled senior engineers and management talents. He is also highly regarded in the Softswitch business,'' said Mark Dunaway, President and Chief Operating Officer of Verso. ``Our new organizational structure allows the business unit heads to focus their energy on the processes and procedures necessary to gain scale. Steve will work closely with sales and marketing to deliver the expected results from these two important business units.''

``Verso's wide array of VoIP switching, access and service assurance products offers carriers the ability to select from pre-integrated, bundled VoIP switching packages or to create unique configurations specifically tailored for their needs by utilizing individual product offerings,'' said Langion. ``Our VoIP service assurance products are particularly exciting as VoIP deployments become more wide-scale and complex. Devices that monitor, measure, test, and verify service levels will become increasingly critical components of these networks for providers to proactively meet demanding customer expectations.''

[JoeBlack]

Verso to Reschedule Fourth Quarter 2007 Conference Call

ATLANTA, March 27, 2008 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (NasdaqCM:VRSO - News), a global provider of next generation network solutions, announced today that it will reschedule the release of its fourth quarter 2007 earnings and the related conference call previously scheduled for later today. As a result of the company having only recently finalized its accounting, including for matters arising from a recently filed action against the company relating to the litigation with Entrata Communications Corporation and one of the company's subsidiaries, previously disclosed by the company, which settled on March 25, 2008, the company is now in position to complete its financial records for the fourth quarter of 2007. The company will announce the date and time of its conference call as soon as possible.
About Verso Technologies

Verso is a global provider of next generation network solutions offering a core-to-edge product portfolio primarily for telecommunications service providers. The company's products enable its customers to secure and optimize network bandwidth, generate additional revenue and reduce costs. Verso's applications and services are cost effective, deploy quickly and provide a superior return on investment. For more information, contact Verso at http://www.verso.com or call 678.589.3500.

[JoeBlack]

Form 8-K for VERSO TECHNOLOGIES INC

On March 25, 2008, Verso Technologies, Inc., a Minnesota corporation (the "Company"), entered into a Settlement Agreement and Release (the "Settlement Agreement") with Michael Daly, Chapter 7 Trustee (the "Trustee") for Estate of Entrata Communications Corporation ("Entrata"), Citel Technologies, Inc. ("Citel") and Needham (Nevada) Corp., an indirect, wholly-owned subsidiary of the Company formerly known as MCK Communications, Inc. ("MCK"). The Settlement Agreement relates to the (i) lawsuit filed by Entrata against MCK and others in 2002 in Norfolk County Superior Court, Commonwealth of Massachusetts regarding certain amounts allegedly owed by MCK to Entrata, pursuant to which the court issued in March 2008 a judgment against MCK and awarded damages to Entrata in the amount of $750,000, together with prejudgment interest thereon since February 1, 2002 at an interest rate of 12% percent per annum, plus approximately $79,000 in attorney's fees the ("MCK Action"); and (ii) lawsuit filed by Entrata against the Company and Citel in February 2008 (the "Verso Action") alleging, among other things, that the Company and Citel were liable to Entrata for the funds owed to it in the MCK Action.

Pursuant to the Settlement Agreement, each of the Company, MCK, Entrata and Citel conditionally released each of the other parties to the Settlement Agreement from all claims arising from the Verso Action and the MCK Action. In consideration of the releases provided in the Settlement Agreement, (i) Verso issued to Entrata 1,115,026 shares of the Company's common stock (the "Settlement Shares"), valued at $250,000 in the aggregate, (ii) MCK assigned to Entrata all claims MCK had asserted against certain other parties in the MCK Action (the "Assigned Claims"), and (iii) Verso agreed to pay to Entrata the sum of $100,000 on or before May 1, 2008 (the "Cash Payment"). Pursuant to the Settlement Agreement, the Company has agreed to prepare and file with the Securities and Exchange Commission (the "SEC") a registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering the resale of the Settlement Shares (the "Registration Statement") no later than May 1, 2008.

The effectiveness of the releases provided in the Settlement Agreement (collectively, the "Releases") is subject to the satisfaction of the following conditions (collectively, the "Conditions"): (i) the approval of the Settlement Agreement by the bankruptcy court before which Entrata's bankruptcy proceeding is pending ("Bankruptcy Court Approval"); (ii) the payment of the Cash Payment by the Company when due under the Settlement Agreement; (iii) until the date which is the later of (a) 91 days after the Cash Payment is made and (b) 30 days after the date on which the Settlement Shares may be sold pursuant to the Registration Statement or Rule 144 under the Securities Act, the Company shall not have filed a petition under Title 11 of the United States Code or have an involuntary petition filed against it under such title; and (iv) the Registration Statement shall have been declared effective by the SEC, or the Settlement Shares shall be salable under Rule 144 of the Securities Act, no later than October 31, 2008. If Bankruptcy Court Approval is not obtained, then the Settlement Agreement shall be deemed null and void and all of the Releases shall be revoked. If any of the other Conditions are not satisfied, then Entrata may, at its election, revoke the Releases and, upon such election, the Company shall be obligated to pay Entrata an amount equal to (i) $750,000, plus interest thereon from March 25, 2008 at a rate of 12% per annum, less (ii) the amount of the Cash Payment actually paid by the Company, less (iii) the value of the Settlement Shares not returned to the Company by Entrata, less (iv) any net recovery made by Entrata in respect of the Assigned Claims.

The Settlement Shares were issued without registration under the Securities Act in reliance upon the exemption from registration set forth in Section 4(2) of the Securities Act. The Company based such reliance upon representations made by Entrata regarding its investment intent and sophistication, among other things.

[JoeBlack]

Verso Announces Fourth Quarter 2007 Conference Call

ATLANTA, April 1, 2008 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (NasdaqCM:VRSO - News), a global provider of next generation network solutions, announced today that it will release its financial results and hold its fourth quarter 2007 conference call related to those results on April 15, 2008. The results will be released shortly after the close of trading on April 15, 2008 in a press release and the call will be held at 5:00 p.m. Eastern Time on that date. The company also announced that it has filed a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission relating to its Annual Report on Form 10-K for the year ended December 31, 2007. The Form 12b-25 can be accessed through the website of the Securities and Exchange Commission at http://www.sec.gov or through the investor section of the Verso website at http://www.verso.com.
Interested parties are welcome to participate in the call by calling 1-866-269-9612 (USA) and 1-612-288-0340 (International) and using the access code 918243 to enter the call.

The conference call will also be simulcast on the Internet at http://www.verso.com. A digital call replay will be available for two weeks on the Verso website. The call will be available for telephonic replay for approximately 15 days from April 15, 2008 at 7:30 PM ET until 11:59 PM ET April 29, 2008. To listen to the playback, please call the following numbers: 1-800-475-6701 (USA) and 1-320-365-3844 (International). The access code is 918243.

[JoeBlack]

Form 8-K for VERSO TECHNOLOGIES INC

http://biz.yahoo.com/e/080404/vrso8-k.html

[mike_d]

price has nearly doubled since news. I read somewere that these guys have until june to get stock price to 1 dollar or tehy delist

[George1234]

$1 looming..
Probably, this week. IMO

[danny_tx]

Got in today. This stock is looking good with recent news. Chart is forming nicely.

[mike_d]

chart has formed a pincher. waiting for rsi to hit 30 and 15 min chart for confirmation, what do you guys think. possibility for some green here.

[mthead]

Of the last 22 insider tranactions, 21 have been sells!

http://www.insidercow.com/

Why the volume spike? The chart shows accumulation...By whom?

[mthead]

If anyone's actually interested in Verso, this board is in serious need of a moderator. Looks like the Ibox hasn't been updated in years.

[mthead]

VRSO Technical Indicators from BarChart.com...88% Sell

http://quote.barchart.com/texpert.asp?sym=VRSO

Medium and Long Term Indicators are at 100% Sell. Gotta be a winner

[mthead]

VRSO Chart

[mthead]

Verso Receives Notice From NASDAQ

ATLANTA, Dec. 28, 2007 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (Nasdaq:VRSO), a global provider of next generation network solutions, announced that, on December 27, 2007, the Nasdaq Stock Market notified the company that it has not regained compliance with the $1.00 minimum bid price requirement for continued listing set forth in NASDAQ Marketplace Rule 4310(c)(4) during the initial 180-day period ended December 24, 2007, granted by the NASDAQ to the company in which to regain such compliance. However, NASDAQ noted that on December 24, 2007, the company met all initial inclusion criteria for the Capital Market set forth in NASDAQ Marketplace Rule 4310(c) (except for the bid price requirement) and, therefore, in accordance with NASDAQ Marketplace Rule 4310(c)(8)(D), the company will be provided an additional 180-day period, or until June 24, 2008, to regain such compliance.

If at any time before June 24, 2008, the bid price of the company's common stock closes at $1.00 per share or higher for a minimum of 10 consecutive business days, NASDAQ will provide written notification that the company complies with the minimum bid price requirement. If the company does not regain compliance by June 24, 2008, then NASDAQ will provide written notification that the company's securities will be delisted. At that time, the company may appeal the determination to a Listing Qualifications Panel.

About Verso Technologies

Verso is a global provider of next generation network solutions offering a core-to-edge product portfolio primarily for telecommunications service providers. The company's products enable its customers to secure and optimize network bandwidth, generate additional revenue and reduce costs. Verso's applications and services are cost effective, deploy quickly and provide a superior return on investment. For more information, contact Verso at www.verso.com or call 678.589.3500.

CONTACT: Verso Technologies, Inc.
Investor Contact:
Scott Kimball, Vice President of Investor Relations
678-589-3579
[e-mail]



Source: PrimeNewswire (December 28, 2007 - 4:05 PM EST)

[dell12]

This one is ready to heat up..

[StormyMonday]

Thats a very funny story. BTW I was in London and just saw the last Rolling Stones Concert. Don't get me started how much I enjoyed that.The entire city was singing Brown Sugar, in the subways, on the Street at the Hotel..LOL it was an experence.
So what do you think of VRSO this time around? Shares are moving higher and looking for over 1.00 in the short term IMHO.
Nice meeting you

Joe

[mthead]

You have good taste in music IMO. I'm not a musician. When I was 15 I stole a new baby blue Caddilac and took 5 teenage white girls joyriding. We went to a liitle black nightclub where I received a hero's welcome for bring those sweet young girls. My reward was T Bone Walker bought me a drink. Managed to get all the girls out safely after the show too. That was in 1958 in California. Now I live in Louisiana where the Blues rules. I really like Irma Thomas.

Nice talking to you Stormy. I'll check out VRSO again.

[StormyMonday]

mthead,now thats a SN which I sould have thought of for myself!
LMAO
Yea I just found out about VRSO from a friend and feel its been beaten down to the bottom.
So your a musician? T Bone Walker,, wow.. I am big into the works of Robert Johnson and BB King is still the tops with me and he can still play the concerts. :)

[mthead]

Thanks Stormy. I sold VRSO so long ago I forgot if I made anything or not. BTW, I like your name. Was onstage once with T Bone Walker in a nightclub in the 1950's.

Stormy Monday...The original

[StormyMonday]

Me thinks you should look at this again... :)

[pontius]

go go VRSO

[waterbug]

i am in

[pontius]

VRSO !!!!

[mthead]

You look lonely here, hardasset. I ran across VRSO on the 16th while running a scan. The chart looked great, so knowing nothing about the company, I bought 2000 shares at .26. It closed Friday at .32. very nice! My intention had been to flip it at .40 but seeing the info you put together for this thread, makes me think maybe I should keep it for a while. Thanks

[MasterBlastr]

vrso -

Big Developments are occurring within VRSO, the time to buy this stock is NOW.

The old CEO has stepped down to allow for a dynamic and experienced new Chief to take VRSO to the next level. The new CEO has vast experience running major communication companies, and can help VRSO reach its true potential.

Insiders keep buying more shares on the open market, and insiders have been granted options with strike prices from 0.50 to $3.00 + . This tells us they know that things are getting much better, and that the stock price will soon reflect the much improved environment within the company.

VRSO continues to make alliances including their most recent one with Blackberry and various other major companies opening up new markets sectors and providing for more products and better service for their growing customer base.


Revenue is Growing with each quarter - From 8-K July 25, 2005
“Total revenue for the second quarter of 2005 of $8.5 million represented a 29% increase over both the first quarter of 2005 and the second quarter of 2004, during each of which the company had sales of $6.6 million. The increase in sales over the prior periods was primarily due to sales of new technologies introduced recently, including the JTA I-Master application suite and the Netperformer GSM and Netperformer Universal Redundancy solutions, and due to the improved performance of the company’s reorganized salesforce.
Gross profit from continuing operations for the second quarter of 2005 was $3.8 million, or 44% of sales, compared to $2.9 million, or 43% of sales, for the first quarter of 2005 and $2.9 million, or 44% of sales, for the second quarter of 2004.”
……
“The recent introduction of new technologies had a significant impact on revenue this quarter and has laid the foundation for our recovery plan,” said Lewis Jaffe, Verso’s President and Chief Operating Officer. “Specifically, the acceptance of the I-Master suite has exceeded our expectations, as the market moves toward applications and open architecture. Also, as evidenced by our growing number of trials and the trials which are now turning into revenue, the introduction of our Netperformer GSM has positioned us to capture market share. With the revamping of the salesforce, we now have a sales team in place that is executing well. We are continuing our sales and product development focus on immediate opportunities, but keeping an eye out to ensure we continue to meet customer demand. We believe that these initiatives, along with improving economies in the markets in which we have a strong presence, will pave the way for continued growth.”
“We are pleased that the efforts we have undertaken over the last two quarters to introduce high growth technologies, restructure our sales force and redirect our marketing efforts are beginning to be reflected in our sales and operating results,” said Steve Odom, Verso’s Chairman and Chief Executive Officer. “We continue to focus our research and development efforts to introduce new products with high growth potential, such as our I-Master suite, Netperformer GSM and Netperformer Universal Redundancy, and the recent completion of the development of our softswitch solution for the North American market.”
…

Verso is a leading provider of next generation communication solutions for carriers and service providers that want to lower their communication infrastructure costs and enhance service capabilities without sacrificing reliability, scalability and quality of service. With an extensive solutions portfolio that extends from the core to the edge of a network, Verso enables customers to leverage legacy technology investments towards converged networks that are faster and more cost-effective to deploy and easier and more flexible to manage. Verso solutions are currently deployed in thousands of customer networks in over 120 countries. For more information, contact Verso at www.verso.com or call 678.589.3500.

[MasterBlastr]

Not every day I can break in a new board - just getting in mostly because of the chart, looks like we are putting in a good double bottom, T/A indicators bottoming and looking to turn positive, worth a shot ! Now for some more serious DD. GLTA !!