Shares in Vita Group (parent company of Fone Zone) have barely recovered since they were smoked when the market opened last week, with word leaking that Telstra and its biggest reseller were renegotiating their commercial terms. Vita dropped like a stone, starting Monday at $4.71 and closing on Thursday at $3.37, wiping $203 million, or 28 per cent, off the company's value (the shares have since recovered to $3.60). Before it had fallen that far, Vita responded to an ASX price query, confirming that Telstra had approached it on October 28 seeking changes to the "remuneration construct" between the two parties. Funnily enough, Fone Zone founder Maxine Horne fronted shareholders at Vita's Annual General Meeting that very day.

As Vocation and Estia Health and so many others have demonstrated, companies that derive their revenue from one customer are living dangerously.