iGPS posts $397.69 million August net loss amid net loss tied to sale

By Caroline Salls

Pittsburgh, Oct. 1 - iGPS Co. LLC reported a $397.69 million net loss for August on zero revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The net loss reflected a $396.94 million net loss on iGPS' asset sale transaction.

The company had $5.74 million in cash as of Aug. 31, up from $1.02 million at the end of July.

iGPS, an Orlando-based operator and owner of a global pallet rental pool with embedded RFID tags, filed for bankruptcy on June 4. The Chapter 11 case number is 13-11459.

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