Big troubles @ Vonage

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Jon Arnold does a good job covering the conference call.The question is who would want to be their CEO? With $420 million in cash they’re not dead yet, but you have to wonder what strategy going forward is… Also – With the potential cost of litigation would a sell to Verizon and a return of capital to shareholder make sense? As of today the company has a total cash per share at roughly the same price as the shares trading range. And at the rate they’re spending (including the reductions mentioned in the conference call) you have to wonder if the company can remain a going concern… litigation will eat away at the savings – how much debt have they taken on?In any event not a great day for vonage – even with the stock up.

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