Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 56.68

-4.7%

Nov 20 3:59 PM EST

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To: Jim Parkinson who wrote (7001)	8/30/1999 5:33:00 PM
From: John Stichnoth	Read Replies (2) of 29987

A question for our financial types: Does a 30-35% discount on the bonds suggest that people (bondholders, anyway) think that G* has maybe a 1-in-3 chance of failing, and a 2-in-3 chance of making it? Just a thought, because if that is the case, then the stock (as we all already know?) is way undervalued: The reward for success by G* is way greater than a double at the present levels. (Jim--haven't the bonds always been trading at junk levels, maybe a 15+% yield to maturity? Haven't been watching them, but that has been my impression. Iridium bonds, some time back when I looked at them were at less of a discount than G*'s if I recall correctly). Best, JS

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