What will happen if...

[tommy]

Peregrine shares which right now at 16.15 CET is at 0,11 hit 0????

[ambarnes]

i'll die laughing 8)

It looks like their shares are trading around the 10 cent range (.10) right now.

But seriously, one has to wonder what in the hell is wrong with their business plan that they are going under. I know that their products, namely ServiceCenter, have a lot of bugs and such, but they have attracted a lot of big corporate customers, like Bank of America and the FBI. I read that they are suing Arthur Andersen too - I don't blame them for that.

[PaulG]

i'll die laughing 8)

It looks like their shares are trading around the 10 cent range (.10) right now.

But seriously, one has to wonder what in the hell is wrong with their business plan that they are going under. I know that their products, namely ServiceCenter, have a lot of bugs and such, but they have attracted a lot of big corporate customers, like Bank of America and the FBI. I read that they are suing Arthur Andersen too - I don't blame them for that.

Well, it's hard to really tell where the problem is through all this fog. But looks like they tried to buy out the competition using their stock as currency, and this made them try to inflate their stocks - which ultimately lead to their cutting things way too tight accounting wise, leading to possible fraud.

Then when the possibility of fraud came out, and things from there just seemed to get worse and worse. First 100 million in irregularities, then changing auditors - twice, with KPMG basically calling them fraudulent as they were fired, then it became 250 million, then Nasdaq delisting since in 4 months they couldn't get their filings together...

I think they might just have been too ambitious.