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LightSquared's Cash Reserves Drying Up

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Dec 19, 2011, 4:15 PM   by Eric M. Zeman

According to financial documents filed by LightSquared, the company only has the cash to continue operations through the second quarter of 2012. The company lost $427 million during the most recent quarter and has been given more than $3 billion by Philip Falcone's Harbinger fund over the last few years. The company has nearly $1 billion in debt payments due in 2012, and its business is not yet operational. The company has signed dozens of reseller agreements with various regional wireless companies that hope to offer LightSquared's Long Term Evolution 4G services to their own customers. The planned network has yet to receive final approval from the government as it continues to test GPS-related interference issues.

more info at Reuters »

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so how do they bobc74 Dec 19, 2011, 7:11 PM
Things that make you go hmmmm dlmjr Dec 19, 2011, 4:45 PM
 
 
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