Lightyear Network Solutions, Inc. (LNSI), formerly Libra Alliance Corporation (Libra), provides telecommunications services throughout the United States primarily through a distribution network of authorized agents. The Company operates through its wholly owned subsidiaries, Lightyear Network Solutions, LLC (Lightyear LLC) and SE Acquisitions, LLC, which is doing business as SouthEast Telephone (SouthEast), (collectively Lightyear). In addition to long distance and local service, Lightyear offers a range of telecommunications products and services, including Internet/intranet, calling cards, advanced data, conferencing, voice over Internet protocol (VoIP) services and wireless services. On October 1, 2010, Lightyear, through SouthEast, purchased the business assets of Southeast Telephone, Inc. (SETEL) from SETEL�s bankruptcy estate. On February 12, 2010, it entered into and closed on a master transaction agreement (the Exchange Transaction) with LY Holdings, LLC (LY Holdings).