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

To: pcstel who wrote (2145)	6/6/2002 2:32:22 PM
From: Rono	Respond to of 2737

The other drawback about the corporate bonds! Is that they are subordinate to the Vendor Debt! I did not know that! This must account for much of the weakness in bond prices. Who wants to own bonds whose risk is similar to common stock less the upside? Thanks Maurice for reminding me of that! Its good to know Maurice is looking out for Leap and it's shareholders! Ron

To: pcstel who wrote (2145)	6/9/2002 11:24:30 AM
From: pcstel	Read Replies (2) \| Respond to of 2737

Speaking on the fraud issue. Somewhat ironic the markets reaction to the 5% fraud issue with LWIN. While other WSP's had fraud/bad debt amounts greater than LWIN. From the Airgate PCS 10-Q Reserve for Doubtful Accounts Estimates are used in determining our allowance for bad debt and are based both on our historical collection experience, current trends, credit policy and on a percentage of our accounts receivables by aging category. In determining these percentages, we look at historical write-offs. Bad debt expense as a percentage of service revenues for the three and six months ended March 31, 2002 was 9.3% and 10.4%, respectively. Bad debt expense as a percentage of service revenues for the three and six months ended March 31, 2001, was 7.6% and 8.0%, respectively." Seems unlikely that a 5% bad debt/fraud expense by LWIN would be seen as something problematic with the business plan. PCSTEL