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# FW: PSI Net bankruptcy in regards to ITa testing

- To: <Support@gesn.com>, <Salestalk@gesn.com>
- Subject: FW: PSI Net bankruptcy in regards to ITa testing
- From: "Larry Dix" <ljdglobal@gesn.com>
- Date: Fri, 1 Jun 2001 13:28:46 -0500
- Cc: "Larry Ensminger" <Larry@gesn.com>, "Bob Urosevich" <Bob@gesn.com>
- Importance: Normal

    In an attempt to clarify and dispel any rumors that may come about in
    regards to PSINet and the following excerpt, I want to let you know that the
    division of PSINet that is the Independent Testing Authority (ITA) for
    election software has officially become Metamor.  The GEMS testing is
    continuing and Metamor plans on remaining an ITA.  I will try to answer any
    questions that you may have.  I just wanted to be proactive in stopping any
    panic concerning this ITA.

    PSINet's operating subsidiaries in Asia, Europe, Latin America and the
    company's Metamor consulting business are not involved in the Chapter 11
    filings.

    Larry J. Dix
    Vice President of Operations
    Global Election Systems

    -----Original Message-----
    From: Tyler Lincks [mailto:tyler@gesn.com]
    Sent: Friday, June 01, 2001 12:58 PM
    To: Larry Dix
    Subject: PSI Net

    Larry,

    The following is excerpted from the Internet.  In case it was news to you, I
    thought I'd pass it along:

    PSINet files for bankruptcy

    The Internet communications provider PSINet has filed for bankruptcy. PSINet
    filed for protection from creditors under Chapter 11 of the federal
    bankruptcy laws, citing liabilities that were nearly double its assets.

    The company said Friday that the filings in U.S. Bankruptcy Court in New
    York covered itself and 24 of its operating subsidiaries in the United
    States. It said four Canadian subsidiaries filed for protection in the
    Ontario Superior Court of Justice.

    PSINet's operating subsidiaries in Asia, Europe, Latin America and the
    company's Metamor consulting business are not involved in the Chapter 11
    filings.

    Ashburn-based PSINet provides corporate Internet access and private
    networks, Web and database hosting and managed Internet security. PSINet has
    total assets of $2.2 billion and total liabilities of $4.3 billion, of which
    $2.9 billion is bond debt.

    The company said it expects to continue to serve customers.

    "Our existing capital structure did not permit us to respond to the rapid
    changes in our markets," said Harry G. Hobbs, president and chief executive
    officer of PSINet. He said he expects the Chapter 11 filing "will provide us
    with the flexibility and time to explore all strategic alternatives while we
    continue to deliver the reliable service upon which our customers depend."

    The company said it will sell its operations in Canada and Panama if
    regulators approve. Terms were not disclosed.

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