Ants Software CEO Resigns

Ants Software.com Inc.’s shares fell 32% after Frederick Pettit, 64, resigned as chief executive, two weeks after the software developer warned “present cash resources will sustain operations” only through January. Shares of the Burlingame, Calif.-based company, which says it has found a way to speed up data processing, fell 94 cents to $2 in Nasdaq trading. On Nov. 28, Ants said it was abandoning its new corporate headquarters as losses for its fiscal second quarter ended Oct. 31 widened 18-fold to $2.4 million. The company said it had $1.6 million in cash remaining Oct. 31. John Williams, 60, was appointed interim chief executive, and Clive Whittenbury, 66, was named interim chairman.