Home › News ›

LightSquared's Cash Reserves Drying Up

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.

Reuters »

Related

Samsung Refreshes Galaxy S Series with S Pen, New Cameras

Feb 9, 2022
Samsung today announced its lineup of flagship phones for 2022: the Galaxy S22 series. The top-end S22 Ultra sees the biggest changes as it essentially absorbs Samsung's Note series with an integrated S Pen stylus and a more Note-like shape and design, instead of the Contour Cut design of the other models.

iPhone 14 Plus Offers a Big Screen For Less

Sep 7, 2022
Apple has revealed the iPhone 14 series, with new features, improved specs, and new size options. In place of a Mini option, the iPhone 14 will come in the same 6.1-inch and 6.7-inch screen size options as the Pro models.

iPhone 15 Series Goes All-In on USB-C and Dynamic Island

Sep 12, 2023
Apple has revealed the iPhone 15 series, which moves to a USB-C connector and brings several key features from last year's Pro models to the more-affordable standard models. These include the pill-shaped sensor cutout in the display that Apple calls Dynamic Island, a brighter display that can reach 2000 nits, a 48 megapixel main camera, and the A16 Bionic processor chip.

Motorola's new Edge+ has Dual 50 Megapixel Rear Cameras and 60 on the Front

Feb 24, 2022
Motorola has announced its new flagship phone for 2022: the Motorola edge+ (2022). Its most unique specs are the camera resolutions: 50 megapixel for both the main camera and wide-angle camera; the selfie camera also clocks in at an unprecedented 60 megapixel.

Samsung Galaxy A53 Coming to US in Two Weeks

Mar 17, 2022
Samsung today fleshed out more of its 2022 lineup of affordable Galaxy A-series phones. The new Galaxy A73, A53, and A33 are nearly identical in design and features, differing only in a few display and camera specs.

Comments

This forum is closed.

This forum is closed.

bobc74

Dec 19, 2011, 7:11 PM

so how do they

expect to build a network with no money?

dlmjr

bobc74 said:
expect to build a network with no money?

Selling use
Look at all the 'deals' they have made.. but they are all dependent upon FCC approval.. so they are cash starved now

...

dlmjr

Dec 19, 2011, 4:45 PM

Things that make you go hmmmm

LightSquared is owned by the Harbinger Capital hedge fund, headed by billionaire investor Phil Falcone. He visited the White House and made large donations to the Democratic Senatorial Campaign Committee. Soon after, the Federal Communications Commission (FCC) granted LightSquared a highly unusual waiver that allows the company to build out a national 4G wireless network on the cheap

Page 1 of 1