Unassociated Document
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
VoIP,
Inc.
(Exact
name of registrant as specified in its charter)
(Texas)
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(000-28985)
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75-2785941
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(State
of Incorporation)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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151
So. Wymore Rd., Suite 3000 Altamonte Springs, Suite 32714
(Address
of principal execute offices, including zip code)
(407)
389-3232
(Registrant's
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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ITEM
2.05 Costs Associated with Exit or Disposal Activities
On
February 5, 2008 VoIP, Inc. (the “Company”) decided to reorganize its operations
to focus primarily on business opportunities associated with its patented
technology including “click-to-call” and “pay-per-click” applications. Associated with that decision, on February 5, 2008 the Company
suspended all of its telecommunications network operations including all current
revenue generating operations. The Company also reduced its workforce by 25
persons, eliminating most of its network operations and software engineering
staff. The Company is currently entertaining offers on the sale of its network, and has not yet evaluated the
potential financial statement impact of related impairments of its tangible
and
intangible assets. However, a material noncash asset impairment charge ranging
up to $23.9 million to the Company’s consolidated 2007 results of operations is
likely.
ITEM
2.06 Material
Impairments
See
Item
2.05 above.
ITEM
8.01 Other
Events
See
Item
2.05 above.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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VoIP,
INC.
(Registrant)
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Date: February
6, 2008
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By:
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/s/ Robert
Staats
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Robert
Staats
Chief
Accounting Officer
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