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Gizmondo misses payments, selling Smart Adds

Ok, we're not going to say we're not kicking 'em while they're down or anything, but it looks like the US launch of the Gizmondo didn't do a whole lot better than their Euro launch of the console, and as a result Tiger Telematics' hand looks like it's being forced by collections on those many millions of piled up debt. So what's a company to do in the face of such monetary adversity? Hemorrhage some IP, of course. In order to keep the SEC and their investors at bay after missing massive loan repayments last October and November, they're putting Smart Adds (you remember Smart Adds, right?) up on the block in order to deflect some of that $22.3 some-odd million that's long since come due. Basically, in other words, Tiger's started cutting up the cookie in order to keep from drowning -- but make no mistake, their heads are still deep below water. Not that any of this should be coming as a surprise to anyone who reads Engadget, right?