Nextwave Wireless (fka WAVE)

[revlis]

Nextwave Wirless net loss widens in Q3 as bankruptcy looms
Friday 12 November 2010 | 13:25 CET

US mobile broadband company Nextwave Wireless a net loss from continuing operations during the third quarter to 2 October at USD 65.4 million compared to 57.2 million the year before.. The company said it has funded operations, business combinations, strategic investments and wireless spectrum license acquisitions primarily from capitalisations and share offerings. The company began a restructuring programme in 2008, resulting in the sale, dissolution or closure of its network infrastructure and semiconductor businesses. Nextwave said it will continue as a going concern and that it is confident it will recover its assets and satisfy liabilities in the normal course of business, if it manages to pay all senior notes. The company is able to pay interest to noteholders and meet operational needs through September 2011, excluding the repayment of senior notes due July 2011. If means are not found to pay the July 2011 notes, the company will file for bankruptcy.

http://www.telecompaper.com/news/nextwave-wirless-net-loss-widens-in-q3-as-bankruptcy-looms