V. Financial Qualifications of Applicant

To be granted a CPCN for authority to provide facilities-based local exchange service, an applicant must demonstrate that it has $100,000 of 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 represents that it will not be required to make deposits with other telecommunications carriers in order to provide the proposed service. In addition, Applicant provided a guarantee by its parent company, Lightyear Holdings, Inc., that satisfies the financial requirements.