Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 63.54

-0.3%

10:59 AM EST

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To: Jack Hartmann who wrote (10723)	3/10/2000 11:27:00 AM
From: Rocket Scientist	Read Replies (2) of 29987

Although it's nice to see someone rise to G*'s defense, this SpearReport article also contains several incorrect statements, imo, some that help our story, others that hurt it: a)" Some 41 countries are now serviceable and 27-32 more are planned before year-end." BLS did indeed say that 42 countries are now in commercial service (thought it's very difficult to tell which ones, and some "countries" in this count are almost certainly places like Vatican City and Gibraltor) but by the end of the year there should be at least 100 "countries" in service. The company's SEC filings have indicated over 80 just by 6/30/00. "27-32" was said by BLS to be the number of GWs in service by year's end. b)"The cost of the handsets, originally $1500, is expected by the company to drop to $400 by April 1." I have no idea where this statement came from. IN this week's cc, there was talk about reducing the price BY 400$ (i.e. TO 1100$) I've never heard any talk of a 400$ handset. c)The company stated after the Merrill Lynch report that the financial assumptions in the report were simply untrue; that even if the company had no revenue in 2000 and no revenue in 2001, they would not need more funds to continue operations." I believe BLS said they had enough financing (assuming extension of the 250M$ l of c) to get through Y2K. He didn't say that about 2001, and it's pretty clearly impossible. Anyway, revenue covenants kick in 3/31/01 for the 500M$ credit line opened last year.

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