Per yesterday's confirmation, Skype will be independent by end of this quarter. With substantial financial resources that Google Voice and Skype will be investing to capture a large chunk of the VOIP market, VG needs to focus on the battle that is underway and their runway is short to impact a significant increase in shareholder value. Here are my top 5 areas that I think VG management needs to accelerate their work on:

1) Refi debt ASAP, so that more of the cash can flow to net income increasing PPS, and more importantly build up cash reserves to fund increased investments in development, marketing (social media type), and new product launches. Current debt contract limits their ability to build up cash reserves...anything over $40M (?) flows into restricted cash...which can be a big drag on management's flexibility to invest for increasing competitiveness and shareholder value.

2) Increase quality and activity of the marketing, PR and IR to battle headlines and position favorably against the juggernauts of Skype and Google. "Mind share" will win more customers rapidly in the wireless mobile apps space. I haven't seen Vonage PR and IR do an outstanding job of managing the headlines and pre-empting the public perception with proliferation of positive stories in press and social media. This is where Skype and Google are very strong...so VG needs to rev up the quality and intensity here!

3) Speed up the Mobile World Plan release. They know customers are eagerly awaiting this, so it's good to get them when the demand is hot! Of course getting a good quality, well tested product is important. Get it out fast, and create more stickiness...this will definitely reduce churn drastically (with existing home world plan users), while helping drive viral marketing to increase new subs. HOT! HOT! HOT PROJECT!!!

4) Make something like Companion free NOW, so it gets high volume downloads and creates the buzz that Skype has got worldwide. Supports viral marketing, reduces churns, and increases stickiness as with Mobile World Plan.

5) Go after the small and medium business (SMB) segment. This is a huge cash flow market and very sticky and stable customer base if they get can some penetration. Their marketing dollars in the SMB market will get a higher ROI. Many Skype users (consumers) have brought Skype into the companies they work at for internal and external communications. It's the intertwining of work and personal life that is the trend in teens, twenty and thirty-somethings...be part of the this WAVE to move into SMB segment and create another profitable segment.

Creative minds (longs only) can build on this and pass it along to VG management. So let's communicate to VG management now, maintain the pressure at the Annusl Shareholder meeting...and get distractions like Silver Point, Citron, etc. out of the way! If we see share manipulations, keep writing to enforcement@SEC.gov and VG IR...continue to do so the VG management can focus on the battle. 'Activist shareholders' will help drive our overall value higher!!