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Gizmondo May Hand Over Smart Adds Inc. to Repay $21m debt
Categories: Struggling Firms
Tiger Telematics, the US parent company of struggling handheld console firm Gizmondo, has revealed that it has offered the stock, IP and patents of its Smart Adds subsidiary as equity on a $21.2 million loan from two shareholders. Smart Adds pushes video ads to mobile devices.
Sources: GamesIndustry.biz | Gamasutra | Joystiq | Engadget | Gamespot | GameDaily.biz
Related Posts:
- Gizmondo Europe to be Liquidated (February 7, 2006)
- Gizmondo Europe Files for Bankruptcy Re-Organization (January 23, 2006)
- Gizmondo May Hand over Smart Adds Inc. to Repay $21m Debt (January 16, 2006)
- Gizmondo Settles Jordan Lawsuit, Raises New Capital (September 7, 2005)
- Handheld Games Sues Tiger Telematics, Makers of the Gizmondo Portable Gaming System (June 8, 2005)
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