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Technology Stocks : Leap Wireless International (LWIN)
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To: JGoren who wrote (1104)9/23/2001 12:36:20 PM
From: pcstel  Read Replies (2) of 2737
 
JGoren: Leap says they are on target for 1 million subs by Y/E 2001.. That 30 million/330million a month/year in Cash Flow.. At 1 million subs.. The covenants become a non issue.

sec.gov

One thing that has impressed me with Leap is their ability to leverage CDMA spectral efficiencies into near free spectrum.. Witness the Salt Lake City Deal with Cingular.. The other thing is that Cingular still has no service in Phoenix.. Another 150-200 million from Cingular for 15 Mhz in Phoeinx would be a nice deal for LWIN. Selling only half of their C Block Spectrum in SLC and PHX would/could pay for the 22 markets that they would receive if the Nextwave deal is completed as reported. Since Nextware would have no need for QCOM FCC voucher.. Then the 125 million QCOM voucher could be returned to LWIN.

Second, I believe it's just a matter of time before CricKet switches to a "six month contract" for new subscribers.. They will get their 1 million subs and associated Cash Flow.. Then transfer to "contract" basis just like PCS switched from "no contract" to "contract" in the beginning! In addition, selling basic phones using the Low Cost MSM-5010 which QCOM targets at a entry level sub $100 cost phone. LWIN's phone subsidies could reach near zero! IMO..

I've been buying sub $15
PCSTEL
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