50 percent of the Net firms that announced three or more rounds of layoffs are now out of business. Unable to secure additional funding, they closed on November 6, 2000. Unable to secure additional funding, they closed on April 25, 2001. Closed on February 12, 2001. Due to current market conditions, the company closed on April 18, 2001.
Company says the restructuring reduced their cash burn rate.
BB and has announced that it will not pursue a reverse stock split. Have cut their staff by two-thirds and are exploring strategic alternatives possibly a merger, an asset sale, additional equity or debt investment. A new CEO was announced the same day. Katie Motta contributed to this report. From our Marketing Partners.