Oasys Mobile Does Chapter 11 Filing

July 23rd, 2007 by Anonymous Blogger Posted in Companies & M&A | 1 Comment »

Oasys Oasys Mobile has announced their chapter 11 filing, meaning they went into a status of bankruptcy protection. This follows several issues of bad news around the company lately.

Earlier this month, two board members already left the company, and also the company defaulted on their $ 8.84 million in loan repayments and interest, leading to this weekend’s news on the chapter 11 filing. Sadly enough this means chances of the company recovering are fairly slim.

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