What options for future activities should Milkowski present to the Board?

Lawrence R. Milkowski, President and CEO of VoIP2.biz, Inc., an Indianapolis-based start-up supplier of Voice over Internet Protocol (VoIP) telephony to the small and midsize business market, knew he had a difficult job ahead of him. It was Friday, June 23, 2006, and he had to prepare his recommendations on the next steps for his fledgling company to the board of directors at its meeting on Tuesday, June 27,
2006. While Larry was a firm believer in the direction of the company, he knew that the board was anxious to resolve the future of the firm given the slower-than-hoped-for progress in getting the company’s cash flow to break even.