EXHIBIT 99.1
ASSETS AND LIABILITIES OF LEAP WIRELESS INTERNATIONAL, INC. AND SUBSIDIARIES
The information in this exhibit is presented in the form in which it is
furnished to the U.S. Trustee pursuant to the Company's Chapter 11 proceedings.
The balance sheet of Leap Wireless International, Inc. includes
information relating to the following debtors in addition to Leap, each of which
is a wholly owned subsidiary of Leap: Backwire.com, Inc.; Telephone
Entertainment Network, Inc.; Cricket Licensee III, Inc.; Cricket Licensee V,
Inc.; Cricket Licensee VI, Inc.; Cricket Licensee VII, Inc.; Cricket Licensee
VIII, Inc.; Cricket Licensee IX, Inc.; Cricket Licensee X, Inc.; Cricket
Licensee XI, Inc.; Cricket Licensee XII, Inc.; MCG PCS Licensee Corporation,
Inc.; Leap PCS Mexico, Inc.; and Orrengrove Investments Limited.
The balance sheet of Cricket Communications, Inc. includes information
relating to Cricket, the non-debtor subsidiaries of Cricket, and the following
debtors, each of which is a wholly owned subsidiary of Cricket or a subsidiary
of Leap whose assets are pledged as collateral to secure the obligations of
Cricket to the senior secured creditors under Cricket's three senior secured
vendor credit agreements: Cricket Licensee (Macon), Inc.; Cricket Licensee XIII,
Inc.; Cricket Communications Holdings, Inc.; Cricket Licensee (North Carolina)
Inc.; Cricket Licensee XIV, Inc.; Chasetel Real Estate Holding Company, Inc.;
Cricket Licensee (Pittsburgh) Inc.; Cricket Licensee XV, Inc.; Cricket Alabama
Property Company; Cricket Licensee (Reauction), Inc.; Cricket Licensee XVI,
Inc.; Cricket Arizona Property Company; Cricket Indiana Property Company;
Cricket Licensee XVII, Inc.; Cricket Arkansas Property Company; Cricket Kansas
Property Company; Cricket Licensee XVIII, Inc.; Cricket California Property
Company; Cricket Kentucky Property Company; Cricket Licensee XIX, Inc.; Cricket
Colorado Property Company; Cricket Michigan Property Company; Cricket Licensee
XX, Inc.; Cricket Florida Property Company; Cricket Minnesota Property Company;
Cricket North Carolina Property Company; Cricket Georgia Property Company, Inc.;
Cricket Mississippi Property Company; Cricket Ohio Property Company; Cricket
Idaho Property Company; Cricket Nebraska Property Company; Cricket Oklahoma
Property Company; Cricket Illinois Property Company; Cricket Nevada Property
Company; Cricket Oregon Property Company; Chasetel Licensee Corp.; Cricket New
Mexico Property Company; Cricket Pennsylvania Property Company; Cricket Licensee
(Albany), Inc.; Cricket New York Property Company, Inc.; Cricket Texas Property
Company; Cricket Licensee (Columbus), Inc.; Cricket Licensee I, Inc.; Cricket
Utah Property Company; Cricket Licensee (Denver) Inc.; Cricket Licensee II,
Inc.; Cricket Washington Property Company; Cricket Licensee (Lakeland) Inc.;
Cricket Licensee IV, Inc.; Cricket Wisconsin Property Company; and Cricket
Holdings Dayton, Inc.
LEAP WIRELESS INTERNATIONAL, INC. - COMBINED
BALANCE SHEET
LEAP WIRELESS FINANCIALS
PERIOD: AUG-03 CURRENCY USD
[LEAP LOGO]
LEAP COMBINED LEAP COMBINED
LEAP COMBINED POST-PETITION* TOTAL
- ------------------------------------------------------------------------------------------------------------------------------
ASSETS
CASH AND CASH EQUIVALENTS 47,095,504.04 0.00 47,095,504.04
SHORT-TERM INVESTMENTS 37,445,378.35 0.00 37,445,378.35
RESTRICTED CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS 199,121.71 0.00 199,121.71
INVENTORIES 0.00 0.00 0.00
OTHER CURRENT ASSETS 27,113,444.70 0.00 27,113,444.70
----------------- ------------ -----------------
TOTAL CURRENT ASSETS 111,853,448.80 0.00 111,853,448.80
PROPERTY AND EQUIPMENT, NET 3,529,320.69 0.00 3,529,320.69
WIRELESS LICENSES, NET 1,798,900.12 0.00 1,798,900.12
GOODWILL, NET 0.00 0.00 0.00
OTHER INTANGIBLE ASSETS, NET 0.00 0.00 0.00
RESTRICTED INVESTMENTS 0.00 0.00 0.00
OTHER ASSETS (149,665,450.81) 0.00 (149,665,450.81)
----------------- ------------ -----------------
TOTAL ASSETS (32,483,781.20) 0.00 (32,483,781.20)
================= ============ =================
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 5,958,073.13 2,032,589.98 7,990,663.11
CURRENT PORTION OF LONG-TERM DEBT 615,769,958.21 0.00 615,769,958.21
OTHER CURRENT LIABILITIES 1,581,288.91 0.00 1,581,288.91
----------------- ------------ -----------------
TOTAL CURRENT LIABILITIES 623,309,320.25 2,032,589.98 625,341,910.23
LONG-TERM DEBT 0.00 0.00 0.00
OTHER LONG-TERM LIABILITIES 51,701,117.81 0.00 51,701,117.81
----------------- ------------ -----------------
TOTAL LIABILITIES 675,010,438.06 2,032,589.98 677,043,028.04
----------------- ------------ -----------------
STOCKHOLDER'S EQUITY (DEFICIT):
PREFERRED STOCK
COMMON STOCK 6,269.60 0.00 6,269.60
ADDITIONAL PAID-IN CAPITAL 1,155,732,709.57 0.00 1,155,732,709.57
UNEARNED STOCK-BASED COMPENSATION (61,992.88) 0.00 (61,992.88)
ACCUMULATED DEFICIT (1,864,202,475.68) 0.00 (1,864,202,475.68)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (1,001,319.85) 0.00 (1,001,319.85)
----------------- ------------ -----------------
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) (709,526,809.24) 0.00 (709,526,809.24)
----------------- ------------ -----------------
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) (34,516,371.18) 2,032,589.98 (32,483,781.20)
================= ============ =================
*Presents post-petition accounts payable and accounts receivable only.
CRICKET COMMUNICATIONS, INC. - COMBINED
BALANCE SHEET**
PERIOD: AUG-03 CURRENCY USD
[LEAP LOGO]
CRICKET COMBINED CRICKET COMBINED
CRICKET COMBINED POST-PETITION* TOTAL
- ----------------------------------------------------------------------------------------------------------------------------
ASSETS
CASH AND CASH EQUIVALENTS 120,312,063.08 0.00 120,312,063.08
SHORT-TERM INVESTMENTS 55,065,972.69 0.00 55,065,972.69
RESTRICTED CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS 11,981,948.94 0.00 11,981,948.94
INVENTORIES 17,910,363.53 0.00 17,910,363.53
OTHER CURRENT ASSETS 40,834,739.85 10,762,796.48 51,597,536.33
----------------- ------------- -----------------
TOTAL CURRENT ASSETS 246,105,088.09 10,762,796.48 256,867,884.57
PROPERTY AND EQUIPMENT, NET 902,581,470.29 0.00 902,581,470.29
WIRELESS LICENSES, NET 557,630,831.43 0.00 557,630,831.43
GOODWILL, NET 0.00 0.00 0.00
OTHER INTANGIBLE ASSETS, NET 0.00 0.00 0.00
RESTRICTED INVESTMENTS 0.00 0.00 0.00
OTHER ASSETS 13,959,250.05 0.00 13,959,250.05
----------------- ------------- -----------------
TOTAL ASSETS 1,720,276,639.86 10,762,796.48 1,731,039,436.34
================= ============= =================
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 44,762,187.39 67,217,822.59 111,980,009.98
CURRENT PORTION OF LONG-TERM DEBT 1,715,685,414.74 0.00 1,715,685,414.74
OTHER CURRENT LIABILITIES 96,722,683.03 0.00 96,722,683.03
----------------- ------------- -----------------
TOTAL CURRENT LIABILITIES 1,857,170,285.16 67,217,822.59 1,924,388,107.75
LONG-TERM DEBT 0.00 0.00 0.00
OTHER LONG-TERM LIABILITIES 37,867,683.91 0.00 37,867,683.91
----------------- ------------- -----------------
TOTAL LIABILITIES 1,895,037,969.07 67,217,822.59 1,962,255,791.66
----------------- ------------- -----------------
STOCKHOLDER'S EQUITY (DEFICIT):
PREFERRED STOCK
COMMON STOCK 0.00 0.00 0.00
ADDITIONAL PAID-IN CAPITAL 1,316,789,865.63 0.00 1,316,789,865.63
UNEARNED STOCK-BASED COMPENSATION 6,545.68 0.00 6,545.68
ACCUMULATED DEFICIT (1,547,159,974.76) 0.00 (1,547,159,974.76)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (852,791.87) 0.00 (852,791.87)
----------------- ------------- -----------------
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) (231,216,355.32) 0.00 (231,216,355.32)
----------------- ------------- -----------------
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) 1,663,821,613.75 67,217,822.59 1,731,039,436.34
================= ============= =================
* Presents post-petition accounts payable and accrued liabilities and accounts
receivable only.
** Also includes Cricket Communications, Inc. non-Debtor subsidiaries