III. Financial Qualifications

To be granted a CPCN for authority to provide facilities-based local exchange service, an applicant must demonstrate that it has $100,000 cash or cash equivalent to meet the firm's start-up expenses. The applicant must also demonstrate that it has sufficient additional resources to cover all deposits required by other telecommunications carriers in order to provide service in California.² Applicant represented that no additional deposits will be required. Applicant provided bank statements that demonstrate that it meets the financial requirements.