Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 63.18

-1.8%

3:59 PM EST

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To: Maurice Winn who wrote ()	3/8/2000 10:53:00 PM
From: Cooters	Read Replies (1) of 29987

Globalstar Says Satellite Phone Shipments to Europe Delayed --From AOl News.-- Cooters New York, March 8 (Bloomberg) -- Globalstar Telecommunications Ltd., a satellite-telephone company, said phone shipments to Europe has been stalled because manufacturer Ericson AB hasn't gained approval for their sale. The company expects Ericsson will get the approval by March 18, Globalstar Chief Executive Bernard Schwartz said on a conference call. Globalstar also said its cutting the price on some of its phones, which sell for about $1,500, by $400. Globalstar is seeking to become the first successful operator of a satellite-telephone system. Analysts have raised concern that the company is gaining customers at a slower-than-expected pace. The company's shares have fallen 24 percent since Monday, mostly after a Merrill Lynch & Co. analyst cut his user forecast. Merrill's Tom Watts cut his subscriber forecast to 200,000 from 280,000 for this year. He also said yesterday that Globalstar could face liquidity concerns next year. Schwartz denied the claim, saying that the company would still have access to capital at year-end even if it didn't have any revenue. The company began offering service late last year. Shares of Globalstar, which is 45-percent owned by Loral Space & Communications Ltd. fell 1/2 to 20 11/16 in Nasdaq Stock Market Trading. Shares of New York-based Loral fell 3/16 to 12 7/16 on the New York Stock Exchange. Mar/08/2000 18:25

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