According to my understanding and from what I heard from the Admission lady, Every year Lecom selects 143 students for each incoming class. This year they already selected and gave out acceptance letters to 143 students after the interview in 01/14. However, not all 143 students that got acceptance letters will accept the offer from Lecom. To make sure the school have enough 143 students before the semester starts, Lecom will continue interview more students and whoever they think that is suitable will be selected and placed in either Waitlist or Alternate. It is just in case if some students that got accepted but deny the offer, the school will pull out the people from Waitlist to fill in. Once there is no more Waitlist, they will start to look at the Alternate to fill in the seats untill they have enough 143 students. The Waitlist seems having more priority over the Alternate because they will be called first if any seat is freed up.
Please correct me if you guys think differently. Thanks!