Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 68.47

+0.2%

3:59 PM EST

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To: JMD who wrote (5262)	6/21/1999 10:04:00 AM
From: Goodboy	Read Replies (2) of 29987

65 percent price cuts by Iridium, flat rate international calling and decreased hand set prices (although what those are were not clear) should help Iridium sell some phones here. I don't view this move as positive for Globalstar. Watching the Iridium equity trade is good comedy. If one shareholder owned a spreadsheet and attempted to figure out how their equity could be worth much of anything a year from now, I would be shocked. Seems Globalstar speculation is that they will have to get financing via bank facility. With the Iridium fiasco and the ICO rights offering fizzle, this won't be easy. Loral will likely pledge some assets or offer other guarantees to the banks, but it seems more likely that the banks are in the drivers seat and may demand warrants be issued as part of the funding. That would create some dilution, but how much is still unclear. I maintain it is still to early to build a position in Globalstar.

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