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


Published Tuesday, December 20th, 2011

Written by Adena Schutzberg