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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: pcstel who wrote (1224)	2/1/2002 5:56:17 PM
From: pcstel	Read Replies (2) \| Respond to of 2737

Airgate PCS! This just amazes me. How can a Wireless Management Company which is embroiled in a Class Action Law Suit, with 453,359 subscribers, 556 million in debt, with 25 million dollars in cash and equiv. and an operating loss of 46 million dollars in the last quarter. Be worth 70 million more than LWIN? They own NO SPECTRUM! They can not be bought by another operator except Sprint, because the own no spectrum. They just manage Sprint's spectrum for them? Their infrastructure is worthless except to Sprint, because they don't own the spectrum it operates on! Using an equation of Equity plus debt minus Cash divided by subscribers. Each one of Airgates subscribes is worth $2172. (NO SPECTRUM) LWIN's subscriber is worth $1,483 (WITH SPECTRUM) LWIN has 25% Cash to Debt Ratio Airgate has 4% Cash to Debt Ratio PCSTEL