Finance portal questions fall in share price
'We just can't understand it'
Thomas Hodgson, president and CEO of the financial portal GlobalNetFinancial.com, has issued a statement in a bid to reassure investors following a decline in its share price. He said: "We are very much aware of the recent difficult market conditions in small-cap stocks and stocks in Internet-related companies.
"At the same time, there have been no company developments that we believe justify the recent decline in the price of our stock.
"The stock now trades at a discount to the value of our cash, securities and investments," he said.
The company currently boasts $55 million in cash and $75 million in securities and investments.
365 Corporation plc is to acquire the whole of the share capital of Systematic Telecoms Limited for £2.72 million in cash and shares.
The digital media and communications company also announced it had acquired the assets of the Essential Voice and Data partnership (EVD), and increased to 100 per cent its holding of Essential Network Solutions Limited (ENS) for a consideration for £1.9 million in cash and shares.
Based in Sussex, Systematic supplies and maintains telephone systems. ENS is a JV company owned by its senior management and 365's subsidiary, Symphony Telecom Ltd. EVD is a partnership operated by its founders, John Donnohoe and Clifford Smith.
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