Sunday, June 03, 2007 Amp’d Bankruptcy Filing: Verizon Wireless Largest Creditor With $33 Million

2 years since founding and $310M raised later. Disaster:

"Amp’d Mobile’s Chapter 11 bankruptcy filing in U.S. Bankruptcy Court in Delaware has a wealth of info on the company’s creditors, and a list of shareholders of the company (we broke the story first here). According to the court documents, Amp’d owes about $33 million to its infrastructure/network provider Verizon Wireless, followed by its handset provider Motorola—$16 million; Vivendi about $10 million, BestBuy about $8 million; MTV Networks about $1.8 million; and others. In total, the total debt is more than $100 million. Amp’d says its assets total less than $100 million.
As for the shareholders, CEO-founder Peter Adderton (through his trust) holds the largest share of common stock, just above 5 percent. RedPoint Ventures holds around 3 percent plus more acrued through various equity rounds. Other shareholders in five subsequent rounds are also listed ... in addition to VCs Redpoint, Highland Capital Parters, Columbia Capital, these include creditors MTV Networks, Qualcomm, Vivendi Universal, Best Buy and many others. "

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