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

To: Jon Koplik who wrote (2565)	11/11/2002 2:39:54 PM
From: Imran	Respond to of 2737

jon, buffett bought LVLT converts. that means, he has locked in a profit if he converts his bonds as they have a convert value of around $3.50 per share. also, the bonds pay 9% coupon. so he is making money right off the bat. whatever happens to LVLT as a company, he has a higher claim than equity holders. as per LWIN filign CH11: nothing is guaranteed, true. but neither LU, NT, or ERICY have the financial flexibility to ease their cash inflow from any one as they are all in doo doo themselves. thus, i firmly belive that LWINs current structure is unsustainable. imran