VRSO.. Bounce Play??

[Aufan 1983]

I jumped in for a nice chunk at .0312. Hopefully catch a bounce on this one in the next couple of days.

Volume is booming today!!

[sg1efc]

Monday, April 28, 2008 - 10:52 AM EDT
Verso Technologies files Chapter 11

Verso Technologies Inc., a provider of network products to telecommunications service providers, filed for Chapter 11 bankruptcy reorganization Friday in U.S. Bankruptcy Court in Atlanta.

The filing came three days after Verso (NASDAQ: VRSO) reported that its accountant included a "going concern" clause in Verso's recently filed 10-K annual report.

On April 15, the company reported that in 2007, it lost $27 million on revenue of $50.6 million. In 2006, Verso lost nearly $18 million on revenue of $42.5 million.

In its Chapter 11 petition, Verso listed total assets of $34.3 million and total debts of $36.7 million. The company has 72.8 million shares of stock outstanding. As of Monday morning, the shares were trading at 41 cents.

http://www.bizjournals.com/atlanta/s...l?ana=from_rss

[Aufan 1983]

Originally Posted by sg1efc

Monday, April 28, 2008 - 10:52 AM EDT
Verso Technologies files Chapter 11

Verso Technologies Inc., a provider of network products to telecommunications service providers, filed for Chapter 11 bankruptcy reorganization Friday in U.S. Bankruptcy Court in Atlanta.

The filing came three days after Verso (NASDAQ: VRSO) reported that its accountant included a "going concern" clause in Verso's recently filed 10-K annual report.

On April 15, the company reported that in 2007, it lost $27 million on revenue of $50.6 million. In 2006, Verso lost nearly $18 million on revenue of $42.5 million.

In its Chapter 11 petition, Verso listed total assets of $34.3 million and total debts of $36.7 million. The company has 72.8 million shares of stock outstanding. As of Monday morning, the shares were trading at 41 cents.

http://www.bizjournals.com/atlanta/s...l?ana=from_rss

I scanned the news but missed that one.....lol. Thanks for the update.

I'll lower my profit margin now.

[mike_d]

i also follow this stock for a while, they have unlit like june to get the stock proce up in order to avoid being delisted, I assume chapter 11 isnt a great indicator that it will happen. I have played this a few times on the bounces and made some cash though!