Maurice, I believe that you may be close on your QCOM thinking.. And it has been in the back of my mind for quite a while.. After all, the progression of OmniTracs onto G* was obviously a thought at some point.. Or they would not have filed for the registered trademark "GlobalTracs"..
I believe that QCOM may end up with a large equity ownership of G* for a very low price.. That VF deal with QCOM must be getting better by the day.. If you remember. Tony said that they were "that close" at the shareholders meeting.. 2 MONTHS AGO.. But again, Why actually pay money for it (dollar for dollar), when you may be able to acquire it for pennies on the dollar in BK?? As a Q shareholder.. I would want the system at the lowest cost possible.. Period.. Although, I am not sure that I would want it at all.. Because, I would want control of the GW's and get rid of those greedy SP's all together.. Then you can give away minutes for .20 US per minute
However, the question to be asked is why even risk a complete loss on GSTRF (from an investment stand point).. When LOR represents a win, win situation?? After all, LOR is slowly sinking towards book value. In addition, it may end up trading below book value before it is all done and said..
If GSTRF is successful, then LOR will participate to somewhere near the same degree as a direct GSTRF investment IMO. But, if GSTRF fails, then LOR has a "bottom".. and it's not ZERO.. Even if G* went to BK and QCOM ended up with most of it, I believe that LOR would rally (2 to 3 bagger), having the G* "monkey off it's back".. Then your equity ownership is reflected in the QCOM ownership you already own, as the 6% is at this juncture.. The key here is being able to pick the bottom of LOR.. $6 or $7 in my thinking..
But then again.. We may have different investment criteria.
Best Regards,
PCSTEL |
