SiliconBeat

Gerald Burnett, chairman of the board of directors at Avistar Communications, personally guaranteed the repayment of funds borrowed and interest accrued under a $10 million line of credit the San Mateo maker of desktop videoconferencing and online collaboration tools has with JP Morgan Chase Bank, according to a regulatory filing Friday.

Avistar, which received a warning last month from Nasdaq that its stock was in danger of being delisted months after it regained compliance from a separate warning issued earlier this year, has been in a patent fight with software giant Microsoft and holding its own. The board voted its chief executive, Simon Moss, a bonus despite the fact that the company failed to achieve pre-established performance goals.

Back in April, the compensation committee on the board at Avistar Communications (Nasdaq: AVSR), approved a bonus structure for its chief executive, Simon Moss, who joined the company in January. Under it, his target bonus was set at $200,000, payable in quarterly installments based on the achievement of certain financial performance targets.

Moss also gets to participate in Read the rest of this entry »

Avistar Communications got a letter from the Nasdaq stock market last week telling the company that it is back in compliance with the rule requiring companies it lists to have a minimum stock price of $1 a share.

Its share price shot back above $1 back in June Read the rest of this entry »