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Tuesday, December 20, 2011

Reuters: LightSquared May be Running Out of Money

The upstart wireless company that is being bankrolled by Philip Falcone's $5 billion Harbinger Capital Partners hedge fund could run out of money during the second quarter of 2012, according to the company's financial statement.

LightSquared, which registered a $427 million net loss during the first nine months of this year, may not be able to "continue as a going concern" unless it can raise additional capital and financing, the statement reviewed by Reuters said. ...

A spokesman for LightSquared said the company "has cash through the next several quarters."

Reuters

by Adena Schutzberg on 12/20 at 04:40 AM | Comments | Bookmark and Share

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