On July 30, the company finished the unwinding of its U.S. carrier hosting business and will be solely focused on its mobile media business going forward. The company will retain $332.6M in NOLs expiring between 2019-2032 from its discontinued carrier operations.
As of Aug. 12, Carl Icahn owned 30.4% of outstanding common stock, 95.5% of all series J preferred stock (current redemption value of $33M, including 13% PIK annual dividends to-date of $2.9M), and $20M in 10% debt maturing Aug. 2013.
The company's mobile media operations are comprised of Voltari Media and Enterprise. Whereas Voltari broke out the units in Q1, it did not in Q2. It's likely the enterprise segment continues to decline, with most of the decline made up by growth in the Voltari Media business. SA contributor Paulo Santos made a case for the company back in July.