WorldGate Communications Inc. shut down in Trevose last week.
Founded in 1995 by Hal M. Krisbergh, the company developed a video phone but has made few inroads in the competitive market.
According to an SEC filing on Tuesday, WorldGate has been in a dispute with its largest customer, which has refused to pay up. Short on cash, WorldGate said it ceased operations "as a first step to winding down its business."
WorldGate has been a penny stock since late 2005 when its price slipped below $3. Shares closed at 8 cents yesterday, down 7 cents.
The company had 70 employees as of the end of 2006.
Without new financing, WorldGate may gone from the world.
