Will Xero Mobile's Numbers Add Up?

The upstart could shake up the wireless sector with its plan to roll out ultra-cheap service with free phones, subsidized by ads

On Apr. 11, a little-known outfit called Xero Mobile became public through a reverse merger, making available 46 million shares trading at about $1 apiece. What's remarkable about this newly public outfit is that it doesn't have any products, customers, or revenue. Even more remarkable: Xero wants to be the first advertising-subsidized wireless service.

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