LightSquared Lost Another $81.4 Million in August

LightSquared blew through $81.4 million in August, and Philip Falcone's wireless venture has now lost $1.6 billion since it filed for bankruptcy in May 2012. The loss was $30 million more than the company spent in July, mostly attributed to a reuse fee it had to pay on its wireless spectrum, and a higher-than-usual charge for depreciation, depletion and amortization, according to a monthly operating report filed with the US Bankruptcy Court in Manhattan. Once again, LightSquared's biggest expense was interest paid on its debt. These payments totaled $39.3 million in August. The interest payments, mostly to the holders of LightSquared's bank debt, now stand at $943.2 million since the company filed for bankruptcy.