AOL Latin America, the down-on-its-luck ISP servicing Brazil, Mexico and Argentina announced that it has given up attempting to secure additional financing that would let it live past the third quarter because "any efforts to obtain financing would be futile based on past experience." While the firm has enough cash to take it through another quarter or two, current finances may have triggered conditions allowing Time Warner to trigger a quicker demise due to $160 million in senior convertible notes it holds. Shares in AOL Latin American fell by more than half on the news, hitting 22 cents per share. For its part, the company said that it does "not believe that our common stock has, or will have, any value."
