Well wouldn't you know
it, the same
people behind Gizmondo who're
now behind Xero Mobile (those that aren't
in jail, anyway)
have found a way to bypass an IPO in getting Xero as a publicly traded company. Basically they merged with Desi TV, a
publicly traded company (that couldn't dig up even a little info on), swapped the ticker symbol to XRMB, and started
trading on the Over-The-Counter Bulletin Board securities market. Oh, did we mention the first thing they did with
their stock was split it 25-to-1? 25 to freaking 1, man! Peter Lilley, CEO of
Xero Mobile (and
former head of
Gizmondo's Smart Adds division) seemed pretty
stoked about "implementing [their] ground-breaking business plan." Uh, would that be the same business plan
that sunk his former game company and lost a half a billion dollars? Right, dude. Investors beware; remember those who
learned a hard lesson about that fateful UK-based game company that seemed eager to cash in on VCs and work a pump n'
dump stock scam on all y'all.
