At 4:30pm Eastern time on Friday, iLinc issued a press release stating that they were deregistering their stock from the New York Stock Exchange, effective on Monday.
The press release stated that the costs and time commitments of public filings, reporting, and regulatory mandates were not worth the value they had in remaining publicly traded.
The president and CEO, James Powers, Jr., said in the release that “Our depressed stock price effectively removed the use of our stock as currency for additional capital or strategic acquisitions.”
His statements at the end of the release are interesting: “Please understand that we view deregistration as a first step and we have also begun exploring all strategic options available to the Company. […] we plan to take additional steps that will ultimately obtain for our stockholders the true value of the Company.”
I don’t know much about high finance, but I can’t think of a way to get money back to stockholders at this point other than selling off the company. They already sold off their audio conferencing operations last year, and there wouldn’t seem to be much else in discretionary operations to cut out and sell piecemeal.
I wish iLinc and its stockholders well. You hate to see investment dreams go south.