0001144204-11-061856.txt : 20111108 0001144204-11-061856.hdr.sgml : 20111108 20111108095209 ACCESSION NUMBER: 0001144204-11-061856 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111104 FILED AS OF DATE: 20111108 DATE AS OF CHANGE: 20111108 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Lightyear Network Solutions, Inc. CENTRAL INDEX KEY: 0001130888 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 911829866 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1901 EASTPOINT PARKWAY CITY: LOUISVILLE STATE: KY ZIP: 40223 BUSINESS PHONE: 502-244-6666 MAIL ADDRESS: STREET 1: 1901 EASTPOINT PARKWAY CITY: LOUISVILLE STATE: KY ZIP: 40223 FORMER COMPANY: FORMER CONFORMED NAME: LIBRA ALLIANCE CORP DATE OF NAME CHANGE: 20001228 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LY Holdings, LLC CENTRAL INDEX KEY: 0001462851 STATE OF INCORPORATION: KY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-32451 FILM NUMBER: 111186495 BUSINESS ADDRESS: STREET 1: 1901 EASTPOINT PARKWAY CITY: LOUISVILLE STATE: KY ZIP: 40223 BUSINESS PHONE: 5022446666 MAIL ADDRESS: STREET 1: 1901 EASTPOINT PARKWAY CITY: LOUISVILLE STATE: KY ZIP: 40223 4 1 form445537_20111108095208-.xml X0304 4 2011-11-04 0 0001130888 Lightyear Network Solutions, Inc. LYNS 0001462851 LY Holdings, LLC 201 EAST MAIN STREET SUITE 1000 LEXINGTON KY US 40507 0 0 1 0 Convertible Preferred Stock, stated value $2.00 per share 2011-11-04 4 H 0 9500000 D Common Stock, $0.001 par value 9500000 0 D On November 4, 2011, in a transaction approved by the Issuer's Board of Directors, the Reporting Person and the Issuer entered into an Intercompany Obligations Settlement Agreement whereby the Reporting Person surrendered to the Issuer its 9,500,000 shares of the Issuer's convertible preferred stock and its right to $2,232,110 in accrued but undeclared and unpaid dividends on its preferred stock in full satisfaction of $12,899,980 of the Reporting Person's indebtedness to the Issuer. The Issuer's preferred stock was convertible into Issuer common stock on a 1-for-1 basis at the holder's option or upon the occurrence of events relating to a secondary public offering, stock price or trading volume or conversion of other preferred shares. W. Brent Rice, Member/Manager 2011-11-08