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VOIP Inc. (fka VOIC)

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Last Post: 3/7/2012 12:15:28 PM - Followers: 18 - Board type: Free - Posts Today: 0

FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) SECURITIES EXCHANGE ACT OF 1934 Date of Report February 5, 2008 On February 5, 2008 VoIP, Inc. (the “Company”) decided to reorganize its operations to focus primarily on business opportunities associated with its patented technology including “click-to-call” and “pay-per-click” applications. Associated with that decision, on February 5, 2008 the Company suspended all of its telecommunications network operations including all current revenue generating operations. The Company also reduced its workforce by 25 persons, eliminating most of its network operations and software engineering staff. The Company is currently entertaining offers on the sale of its network, and has not yet evaluated the potential financial statement impact of related impairments of its tangible and intangible assets. However, a material noncash asset impairment charge ranging up to $23.9 million to the Company’s consolidated 2007 results of operations is likely. Since November 1, 2007 the Company has converted $181,215 of its convertible notes and related interest into 3,716,623 shares of its common stock. In addition, $57,694 notes and interest are currently in process of conversion into 5,106,951 additional common shares. A number of the Company’s existing financing agreements contain “favored nations” pricing provisions such that for future securities offerings by the Company at a price per share less than the contractual common stock or preferred stock conversion or warrant exercise rates, those investors' conversion or exercise rates would be adjusted to the lower offering price. As a result of these recent transactions, the Company’s convertible notes, convertible preferred shares, and warrants with favored nations provisions are now convertible or exercisable into shares of the Company's common stock at the rate of the lesser of: (a) $0.0095 per share; or (b) 70% of the Company’s average of the three lowest closing bid prices of its common stock for the 10 days prior to the date an investor converts or exercises. As a result of these transactions, the Company’s outstanding and fully diluted common shares currently equals approximately 17.9 million (exclusive of the 5,106,951 conversion shares in process referenced above) and 4.4 billion shares, respectively. The issuance of the common stock is subject to the Company’s obtaining shareholder approval to authorize either an increase of the number of its authorized shares of common stock, or a reverse split of its common shares, to enable the Company to issue the shares of common stock upon conversion by the investors. The Company incorporates by reference its Form 10-Q filed on November 14, 2007 concerning the price ratchet effect on the derivative securities previously issued that have “favored nations” provisions.
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#3832 bloodhound99 03/07/12 12:15:28 PM
#3831   Looks like former management team member Bill Burbank runncoach 02/03/12 06:43:03 PM
#3830   It was really funny when Volkswagon picked up bloodhound99 12/29/11 03:19:22 PM
#3829   First 6 months of 2010. Tony Cataldo did bloodhound99 12/19/11 11:17:27 AM
#3828   Ha ha runncoach 12/13/11 06:40:04 PM
#3827 AIen 12/13/11 02:42:50 AM
#3826   CEO /Chairman Tony Cataldo. . Anyone heard from bloodhound99 10/28/11 02:52:12 AM
#3825   Two terms for ya ..... Razrclick and patent bloodhound99 10/06/11 06:35:23 PM
#3824   Hey its worth a try maybe someone will bloodhound99 09/30/11 10:24:57 AM
#3823   if only my old voic shares can convert..... AIen 09/30/11 03:05:29 AM
#3822   Interesting it appears that Volkswagon has picked up bloodhound99 09/29/11 05:58:11 PM
#3821   Suit dismissed? AIen 09/28/11 05:16:30 AM
#3820   Keep us informed bloodhound. runncoach 09/07/11 05:00:27 PM
#3819   runncoach, TC has "upped the ante" and made bloodhound99 09/07/11 03:27:31 PM
#3818   Hey bloodhound, runncoach 09/01/11 07:47:56 PM
#3817   Thanks. As always, you two guys are great. Stock 09/01/11 06:01:00 PM
#3816   Not that I know of: bloodhound99 09/01/11 05:36:36 PM
#3815   Yeah its more common than you think. runncoach 09/01/11 04:13:38 PM
#3814   It doesn't. Someone told me they saw his obit. Stock 09/01/11 04:08:25 PM
#3813   Generic I must be missing something. Where does runncoach 09/01/11 04:06:18 PM
#3812   Is Bob Staats dead? Stock 09/01/11 12:54:23 PM
#3811   Another former Voip, Inc charged by SEC runncoach 05/11/11 08:00:58 PM
#3810   3 years later About Time we got bloodhound99 02/20/11 12:17:04 PM
#3809   bloodhound thanks for the heads up. I'll have runncoach 02/11/11 03:48:29 PM
#3808   runncoach Here is the latest Tony Cataldo bloodhound99 02/11/11 03:44:34 PM
#3807   "Deader Than a Tony Cataldo Discard". bloodhound99 02/08/11 02:07:42 PM
#3806   "Deader Than a Tony Cataldo Discard". bloodhound99 02/08/11 02:07:16 PM
#3805   Blast from the past? runncoach 01/07/11 05:06:35 PM
#3804   a Chapter 7 for CEO/Chairman Tony Cataldo at bloodhound99 12/08/10 12:02:52 PM
#3803   well he has cahsed out millions at this makeamint2 11/09/10 03:04:43 PM
#3802   makeamint I did some DD on that just last runncoach 11/09/10 02:53:45 PM
#3801   Follow a trail to Steven Ivester and Atomic makeamint2 11/09/10 02:34:04 PM
#3800   Bob Just wondering what you have been up bloodhound99 10/09/10 10:25:47 AM
#3799   Ha ha runncoach 09/19/10 07:27:27 PM
#3798   run coach what have you been doing bloodhound99 09/19/10 06:46:29 PM
#3797   probably not. but i know you guys know Stock 08/06/10 11:20:52 AM
#3796   Generic I don't know but I don't believe bloodhound99 08/06/10 11:19:23 AM
#3795   related? Stock 08/06/10 08:50:48 AM
#3794   One more Time!! bloodhound99 07/09/10 06:20:44 PM
#3793   check out Facebook for danske hollywoodfruer and there bloodhound99 06/25/10 12:03:07 PM
#3792   bloodhound I still like how they cite that study runncoach 06/24/10 08:49:00 PM
#3791   Bast From The Past: bloodhound99 06/24/10 08:39:27 PM
#3790   Time for one of you stockholders to get bloodhound99 05/04/10 11:49:58 AM
#3789   wait a minute are you telling me that bloodhound99 05/01/10 04:08:09 PM
#3788   Thanks Wester runncoach 04/27/10 04:39:46 PM
#3787   court news link, fwiw. wester51575 04/27/10 02:47:39 PM
#3786   Yeah I bet he checks everyday lol. runncoach 03/11/10 09:18:43 PM
#3785   wonder if Tony ever gets by the UPS bloodhound99 03/11/10 09:07:27 PM
#3784   Its been 675 days since Tony Cataldo filed bloodhound99 02/04/10 10:18:58 AM
#3783   That's some funny stuff Wester runncoach 02/02/10 05:42:57 PM