Oasys Mobile Operates Under Chapter 11

oasys.jpgRaleigh, N.C.-based Oasys Mobile filed for bankruptcy under the U.S. Bankruptcy Court for the District of Delaware after it was unable to pay senior secured debentures in the principal amount of $8 million. The mobile content company plans to continue with business as usual and has secured a post-petition credit facility to fund operations.

Oasys Mobile creates and sells ringtones, wallpapers, games and other mobile content. It offers licensed games like “Predator,” “Apache Mission,” and “Gorillaz Entertainment System.” When it comes to wallpaper, and MobileCrunch doesn’t mean to sound prudish, but a quick glance at the catalog isn’t very Wal-Mart-friendly. The top offerings include “Omni Girls,” “Hooters Calendar Girls,” “Hotties,” and other pin-up photos. While there may be certain demand for such content, but if the carriers run their decks like the infamous retailer, a significant portion of content is stabled.

Oasys Mobile