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Microcap & Penny Stocks : LDDI (Long Distance Direct Holdings, Inc.) -- Ignore unavailable to you. Want to Upgrade?

To: 01HorseTrader who wrote (66)	5/22/1999 11:45:00 AM
From: M. Frank Greiffenstein	Read Replies (1) \| Respond to of 216

MCI relations strained... HT, LDDI is basically a reseller of long distance minutes. LDDI bought tons of minutes from MCI and ATT at deep discount prices. They turn around and sell the minutes to business at prices cheaper than the buisinesses can get form MCI, but higher than LDDI paid for them. LDDI ran into trouble with major delinquent accounts. So they couldn't pay back MCI and ATT, they had basically been loaned the minutes with a promise of future repayment. They negotiated with MCI and got some kind of break, but they still old millions. One major negative: In early January, I read a news release that stated LDDI was fined 2 MILLION $$$ by the FCC for "slamming" violations (swtiching a customer from one LD carrier to another without permission). That news release then disappeared 2 weeks later. I have no idea whether the charges were withdrawn or whether the press release was bogus. All the information regarding LDDI's troubled relations with MCI are contained in their last 10K. DocStone