LightSquared's Cash Reserves Drying Up
Article Comments 5
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.
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so how do they
expect to build a network with no money?
Look at all the 'deals' they have made.. but they are all dependent upon FCC approval.. so they are cash starved now
Things that make you go hmmmm