iPass reports loss

iPass Inc. (Nasdaq: IPAS) reported a loss for the fourth quarter of 6 cents per share compared with a loss of 7 cents per share in the year ago period and concluded its strategic alternatives review with the decision to remain an independent company. The company also appointed Gary Griffiths to the position of chief executive officer and Patricia Hume to the newly created position of chief commercial officer. The stock price plunged 36 cents to close at $0.90.