12:09 PM EST - Phonetime Inc. : announced it has signed a binding Letter of Intent to acquire Huntington Telecom. The purchase price will consist of cash and common shares of Phonetime, and includes a three-year earn out formula based on specific revenue criteria and gross profit performance. The transaction is expected to close on or around March 31, 2009 and is subject to customary documentation and closing conditions and regulatory approvals. Phonetime Inc.
shares T.PHD are trading up 15.79 percent at $0.11.
