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Verso Announces Second Quarter 2007 Financial Results
Verso Technologies, Inc. (Nasdaq:VRSO), a global provider of next generation network solutions, announced today its second quarter 2007 financial results. In addition, the company's management has announced that over the past five weeks it has reviewed the company's operations and has implemented a restructuring program. The company further announced that it has received a proposal from a large shareholder to provide the company with several million dollars of financing which would permit the company to pay all of the principal and accrued interest due during the next year on its outstanding convertible debt in cash. Historically, the company has made these payments through the issuance of the company's common stock. Further, the company has received several other financing proposals.
