New Filing - Limitless Mobile LLC

12/5/16 Recap: Pennsylvania-based 3G/4G LTE network provider of mobile phone and home internet services to retail customers in rural areas filed chapter 11 to restructure its debt, winddown its retail operations and attempt to continue its wholesale business pursuant to a $4mm Tower Bridge DIP loan. Basically this thing is an investment cesspool: after a $9+mm loan and $25.2mm grant from the US government and a $30mm equity (and spectrum) infusion from Tower Bridge, the company determined that it had an "extended runway to profitability." Who modeled this for the US Government before doling out the grant?
Jurisdiction: D. of Delaware
Capital Structure: $9.2mm debt (Rural Utilities Service - United States) & $9mm (Tower Bridge LLM Partners LLC)
Company Professionals:
- Legal: Dilworth Paxson LLP (Catherine Pappas, Martin Weis, Jesse Silverman, Lawrence McMichael, Erik Coccia)
- Claims Agent: Rust Omni (*click on company name for docket)
Other Parties in Interest:
- Tower Bridge LLM Partners LLC
  - Legal: Gellert Scali Busenkill & Brown LLC (Ronald Gellert, Evan Rassman)
- Unsecured Creditors Committee
  - Legal: Saul Ewing LLC (Lucian Murley, Sharon Levine)
  - Financial Advisor: Gavin/Solmonese LLC (Edward Gavin)

Updated 12/29/16