The end is near for Amp’d Mobile as it moved to sell its assets after failing to secure debtor-in-possession financing. This financing would have allowed Amp’d to continue operations through the bankruptcy it declared back in June. Should the judge grant the request, Amp’d will immediately begin to sell off its assets, including its inventory of phones and accessories, studio and office equipment and its copyrighted material.
The situation is so dire that Amp’d expects to only have US$9,000 in its bank accounts on Monday.
What this means for Amp’d Canada which operates in partnership with Telus Mobility remains to be seen.
Source: Engadget