Grand Central Communications, Inc.

San Francisco, California
2005: Grand Central had technology that included the software products of Swivel, Business Network Services (BSN) and Blue Spark. The Assignee operated the business and maintained the customer contracts until a sale of assets was completed. The purchaser assumed debt, converted unsecured debt to equity (subordinating to remaining unsecureds), and paid cash for a total estimated value of $1 million dollars.