text: The wireless industry in the late 1990’s became increasingly competitive and the Company was not immune to these 
  industry issues. The Clear PaySM program, introduced by Sprint as a no-deposit offering in 2001, attracted high credit 
  risk customers in the Company’s markets. As the results began to materialize, the Company implemented deposits on 
  this program (mid-April 2002), and experienced high levels of customer turnover (churn) and uncollectable accounts. 
  The write-offs of uncollectable accounts peaked in the third quarter of 2002. During the fourth quarter of 2002 there 
  was some evidence that the strengthened credit policy was having a favorable impact. Nonetheless, the 2002 net loss 
  in the PCS operation was $5.4 million, as compared to $5.5 million in 2001. Despite the disappointing financial results 
  for 2002, the PCS customer base grew by over 40%. While the PCS operation was adding customers, the cellular 
  operation continued to lose its local customer base. 
  
  The growing belief that national branding was critical to our wireless operations, the expectation that roaming revenues 
  from our analog cellular operation would not continue to grow, and the increase in the number of wireless competitors 
  in our markets, prompted the Company to exit the cellular business in order to focus on our PCS operations. The 
  Company entered into an agreement on November 21, 2002, to sell its 66% ownership interest in the Virginia 10 RSA 
  cellular operation which was classified as a discontinued operation. The closing occurred February 28, 2003. The 
  Company received $37.0 million in proceeds, including $5.0 million in escrow for two years and $1.7 million for 
  working capital. 