Qualcomm Inc (QCOM)

[Jim Mullens]

Re: Nextwave’s $1.4B FCC approval.

Does anyone have any additional insight on Nextwave’s plans and the Q’s involvement?

Q’s Feb 2002 AM proxy stated-

“At September 30,2001, we owned 6,516,666 shares of Series B common stock and held warrants to purchase 1,111,111 shares of series B common stock for $3 per share. We also held a $0.4 million promissory note convertible into 1,019,444 shares of series C common stock.

In August 2001, we committed to purchase 2,000,000 shares of Series A preferred stock in the reorganized Nerxtwave for $300 million”......”subject to approval by the Bankruptcy Court on or before October 31, 2001”.......”The approvals ....have not been obtained and we are entitled to terminate our investment agreement...”

Apparently the Q still holds 6.5M Newtwave shares and the rights to another 2.1M.