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TerreStar Networks marks $12.98 million December net operating loss
By Caroline Salls
Pittsburgh, Jan. 20 - TerreStar Networks Inc. reported a $12.98 million net operating loss for December on $113,479 in revenues, according to its monthly operating report filed Jan. 20 with the U.S. Bankruptcy Court for the Southern District of New York.
The net loss for the month was $25.29 million.
The company had $11.04 million in cash and cash equivalents at Dec. 31.
Based in Reston, Va., TerreStar is a holding company with subsidiaries that operate satellite-based digital mobile communications systems. The company filed for bankruptcy on Oct. 19. The Chapter 11 case number is 10-15446.
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