VeriFone Sets Do or Die Date With SEC (PAY)

VeriFone Holdings Inc. (NYSE: PAY) is seeing a rather solid recovery this morning early on, but the volume is rather light considering its past and shares have already pulled back nearly 5% from its post-open highs so far.

The company issued a release today with the announcement that it plans to FINALLY file its amended and restated financial reports as follows:

• Quarterly report for January 31, 2007
• Quarterly report for April 30, 2007
• Quarterly report for July 31, 2007
• Quarterly report for October 31, 2007
• Quarterly report for January 31, 2008
• Quarterly report for April 30, 2008
• Annual report for the fiscal year ended October 31, 2007.

The troubled financial transaction processing terminal operator has set the do or die date of August 19, 2008 as the date it will make its filings with the Securities and Exchange Commission on August 19, 2008.

This stock has had a miserable time after it disclosed its issues in 2007 which would cause restatements over accounting issues.  To illustrate just how bad the pressure has been even after a 50% recover from lows, this stock’s 52-week trading range id $10.10 to $50.00.

Jon C. Ogg
July 28, 2008