The clock that was ticking ominously on Vocaltec, the Israeli VoIP company might have stopped. The company is now reported to be in merger talks with another Israeli VoIP player, TD Soft, which has received investments from Cisco in the past. Vocaltec, which trades on Nasdaq’s Small Cap exchange has a total market cap of $9 million, which is not enough for a listing. At the end of second quarter, the company had only $1.7 million in cash, and given that we are in September, that money must be gone. So this deal is “just in time.”