Leap Wireless International (LWIN) Message Board

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Technology Stocks : Leap Wireless International (LWIN)

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To: H. Bradley Toland, Jr. who wrote (107)	10/21/1998 2:38:00 PM
From: RalphCramden	Read Replies (2) of 2737

Valuing LWIN, I looked at SEC Filings... I looked at the SEC filings and saw something like a book value of assets of about $17/share. Potential maximum dilution of stock is 55%, but most of that is on options and warrants priced in the ~$5/shr range so they don't dilute it horribly, say in absolute worst case maybe $10.50/share. Presumably market is claiming these assets are only worth $4/share, that QCOM overpaid for these licenses and and paid too much for infrastructure given business it could do? Or that LWIN would "burn" the assets over next few years before income comes, and the assets would not be worth more when they were done? "Damn it Jim, I'm an Engineer not an MBA", if anybody can provide insight as to what kinds of things bring LWIN to a fraction of its book value, I would really be interested in knowing. Thanks, Mike

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