Leap Wireless International (LWIN) Message Board

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Technology Stocks : Leap Wireless International (LWIN)

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To: slacker711 who wrote (1814)	3/29/2002 12:36:48 PM
From: slacker711	Read Replies (4) of 2737

From the 10K.... ccbn.tenkwizard.com We also agreed not to build out or launch any new markets until after June 30, 2003, other than markets included in our 40 Market Plan. Under our current business plan, we expect to meet these and all remaining covenants through the end of 2003. Assuming we meet our current operating plan objectives, prior to December 31, 2003, we will need to raise approximately $225 million of additional cash and use approximately $200 million of such cash to pay down vendor indebtedness, or amend or refinance our vendor indebtedness, to meet our total indebtedness to total capitalization covenant under the vendor credit facilities and to provide working capital at Leap Hmmm....I was hoping that they might be able to resume buildouts sooner than June '03. I guess the best-case scenario we can hope for is that Leap performs well enough to be able to open up a bank credit line. I have no idea how likely that would be....anybody care to comment? Slacker

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