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Strategies & Market Trends : Option Granting Practices and exploits -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (23)	8/11/2006 7:31:19 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 165

J2 Global to Delay 10-Q Filing Friday August 11, 6:11 pm ET J2 Global to Delay 10-Q Filing Amid Review of Stock-Option Practices, Possible Restatements LOS ANGELES (AP) -- Voicemail and fax services provider j2 Global Communications Inc. said Friday it will delay filing its quarterly financial report, as an internal review of its stock-option practices may push it to restate prior reports. ADVERTISEMENT The company said its board established a special committee of outside directors to perform an independent investigation, in addition to a previously disclosed internal review. The company believes it may need to restate past financial statements to record non-cash charges for compensation expense related to past stock option grants. The company believes any additional compensation expense would not exceed $2.1 million between its 1999 initial public offering through the end of 2005. Since the beginning of 2006, the additional expense should be under $80,000, j2 said. More than 80 companies are under regulatory or self-imposed scrutiny over their stock-option practices. Shares of j2 Global closed down 58 cents, or 2.4 percent, at $23.46 on the Nasdaq. The stock has traded between $17.91 and $32 over the past 52 weeks.

To: RockyBalboa who wrote (23)	8/18/2006 7:47:38 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 165

J2 Requests Nasdaq Delisting Hearing Friday August 18, 5:44 pm ET J2 Global Communications Requests Nasdaq Hearing to Review Delisting Notice LOS ANGELES (AP) -- J2 Global Communications Inc. said Friday that it plans to request a hearing before a Nasdaq panel to review a warning that it does not comply with the stock exchange's listing standards because it has not yet filed a second-quarter 10-Q report. ADVERTISEMENT J2, which operates message services for phone, e-mail and fax, said its shares will remain listed on the Nasdaq until the panel reaches a decision. The company received the warning Thursday. The filing delay stems from an ongoing internal probe into the company's stock-option granting practices. The company said it will file its report once the review is completed. J2 is one of at least 28 companies conducting internal probes into whether stock-option grants were properly accounted for. At least another 69 companies are being scrutinized by the Securities and Exchange Commission or Department of Justice. Shares of J2 Global Communications closed 34 cents higher at $25.01 on the Nasdaq.