Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 61.21

+1.8%

3:59 PM EST

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To: David Wiggins who wrote (9414)	1/10/2000 1:10:00 PM
From: John Stichnoth	Read Replies (1) of 29987

Re stock move. I was thinking over the weekend, in line with the discussion here, about the amount of future funding, and what form it might take. I had concluded that we would see $300 MM raised as 8% converts with a $35 conversion price. Today's announcement is a welcome surprise--I didn't like the idea of the interest overhang. Maybe that outlook is generally held and accounts for the rise? Re RS's comment on future funding--my guess has been that the total additional funds needed would total $600 million, until the company hits breakeven at the end of 2001. Rocket's calculations aren't too far from this, and suggest that another financing is still ahead of us--but can be delayed until MOU's and handset distribution issues have been proven.

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