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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Mama Bear who wrote (1997)6/22/1999 4:35:00 PM
From: Bryan  Read Replies (1) of 2693
 
<<< If you can tell me where they're going to get the money to pay off the bondholders next month without severely diluting the current shareholders I might reconsider. >>>

I agree with you 100%.

The hierarchy of payees DOES NOT favor the IRID stockholders. In the event of a bankruptcy, the equity holders will have the last consideration, the stock will plunge, and a delisting will be imminent.

I read that MOT's estimated exposure to IRID is approx 2 Billion bucks. I don't see MOT throwing more $$$ their way unless IRID comes up with a credible bail-out plan. Until then, precious time is ticking away for IRID, and lost business because of credibility issues will further depress any chance for IRID to meet past forecasts of subscribership.

IMHO, today's blip up was probably one of the last opportunities to sell that we will see for a while.
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