LOS GATOS, Calif., Nov. 9, 2011 /PRNewswire/ -- CoSine Communications, Inc. (Pink Sheets: [ COSN ]), today announced net loss of $182,000 or $(0.02) loss per share for the quarter ended September 30, 2011 as compared to net loss of $208,000 or $(0.02) per share for the quarter ended September 30, 2010.

About CoSine Communications

CoSine's strategic plan is to redeploy its existing resources to identify and acquire, or invest in, one or more operating businesses with the potential for generating taxable income and/or capital gains. This strategy may allow CoSine to realize future cash flow benefits from its net operating loss carry-forwards ("NOLs"). No assurance can be given that CoSine will be able to utilize its existing NOLs.

CoSine's Certificate of Incorporation limits the ability of any group or person to acquire 5% or more of CoSine's common stock (subject to certain exceptions as provided in the Certificate of Incorporation) in order to protect CoSine's ability to utilize its NOLs and renders inapplicable to CoSine the limitations of Section 203 of the Delaware General Corporation Law.

On March 16, 2011 the Company filed a Form 15 with the Securities and Exchange Commission deregistering its common stock and suspending its reporting obligations under the Securities Exchange Act of 1934, as amended. CoSine presently intends to continue to make available its periodic financial information.

CoSine's common stock is currently traded in the Pink Sheets under the symbol COSN.PK and its website is [ www.cosinecom.com ]

For additional information contact:

Terry Gibson
(408) 399-6494
E-mail: [ Terry.Gibson@Cosinecom.com ]

CoSine Communications, Inc. UNAUDITED STATEMENTS OF OPERATIONS (in thousands, except per share data)
	Three months ended		Nine months ended
	September 30,		September 30,
	(Unaudited)		(Unaudited)
	2011	2010	2011	2010

Revenue:	-	-	-	-

Operating expenses:
General and administrative	183	231	824	757

Loss from operations	(183)	(231)	(824)	(757)

Interest and other income	1	23	11	36

Loss before provision for income taxes	(182)	(208)	(813)	(721)

Income tax provision	-	-	1	1

Net loss	$ (182)	$ (208)	$ (814)	$ (722)

Basic and diluted earnings per share	$ (0.02)	$ (0.02)	$ (0.08)	$ (0.07)

Weighted average common shares outstanding	10,113	10,091	10,113	10,091

CoSine Communications, Inc. BALANCE SHEETS (In thousands)
			September 30,	December 31,
			2011	2010
			(Unaudited)
ASSETS:

Current assets:
	Cash and cash equivalents		$ 20,883	$ 21,640
	Interest receivable		-	2
	Prepaid expenses and other current assets		35	28
		Total current assets	20,918	21,670

Long-term deposits			3	3

		Total assets	$ 20,921	$ 21,673

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
	Accounts payable		$ 180	$ 189
	Accrued expenses		-	35
		Total current liabilities	180	224

Shareholders' equity:
	Common stock		1	1
	Additional paid-in capital		539,207	539,101
	Accumulated other comprehensive income		-	-
	Accumulated deficit		(518,467)	(517,653)
			20,741	21,449

		Total liabilities and shareholders' equity	$ 20,921	$ 21,673

SOURCE CoSine Communications, Inc.

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RELATED LINKS
[ http://www.cosinecom.com ]

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CoSine Communications, Inc. Announces Financial Results for the Quarter Ended September 30, 2011

CoSine Communications, Inc. Announces Financial Results for the Quarter Ended September 30, 2011