Leap Wireless International (LWIN) Message Board

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Technology Stocks : Leap Wireless International (LWIN)

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To: Lance Bredvold who wrote (2298)	6/30/2002 1:51:08 PM
From: alburk	of 2737

I am looking forward to the June qtr conference call. Based upon recent representations by management, the quarter should have little in the way of downside surprises and should show progress with respect to the customer fraud issue. Again, focusing on Q3, and Q3 guidance from the upcoming June qtr conference call, am I missing something? Based upon market reaction, it seems that the market expects LWIN to acknowledge defeat. Management has represented publicly that they are in compliance with all covenants that currently apply. Are recent declines explained by qtr end "Window Dressing" and reshuffling of indices? Hard to believe that as recent as 2 months ago, LWIN has price targets of $30. The fraud issue seems reparable. The Telecom malaise is possibly irrelevant excepting the ramifications for access to capital (obviously significant for LWIN). Other than the customer fraud problem, where has LWIN stumbled.

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