Oasys Leaves Chapter 11 Bankruptcy

Well, Oasys said it could leave Chapter 11 bankruptcy as early as October, and it has. It filed for bankruptcy in July, and sold all its equity to the two investment firms (Associated Partners and Rock Hill Partners) to which it owed money in lieu of actually paying the cash back. The company now claims to have an improved capital structure and the funding necessary to finance future growth, and also notes several new games to be released over the next several months: UNO Classic 2008, Magic 8 Ball, and Texas Hold’em 2007 with Phil Hellmuth. This change in strategy away from running a D2C portal and towards producing and distributing mobile content through carriers was mooted in April. (release)

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