Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 65.57

+7.8%

Jan 22 3:59 PM EST

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To: Rocket Scientist who wrote (10537)	3/6/2000 7:21:00 PM
From: A.L. Reagan	Read Replies (1) of 29987

R.S. Para. 19 of the order extending Iridium's life to 3/17 was particularly telling. This outlined the bidder qualifications, and it was pretty obvious that the hand behind this was MOT. MOT wants to end the bleeding. Reading between the lines the creditors have MOT agreeing to run the place for free here on out (no payments from IRID to MOT) and MOT is waiting to pull the plug unless the real deal happens. According to the article referenced below, IRID's bankruptcy attorney is quoted that these are "just hopes." There are no other bidders. The $3MM buys time for DLJ to contact some 21 other parties who at sometime or another had expressed some degree of interest in IRID. But when you read para. 19, what are the odds.... cnnfn.com P.S. Do you suppose Staino's old desk would have any collector value?

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