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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 61.03-1.2%Dec 31 3:59 PM EST
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To: H. Bradley Toland, Jr. who wrote (16746)9/14/2000 2:29:49 PM
From: Michaelth1  Read Replies (2) of 29987
 
Bradley:

You caught me. I'm one of those textbook shorts who follows a stock and talks about it, seemingly favorably, but then constantly throws in unfounded negative comments. <g>

I'm not short G* and never have been. I'm long, but not nearly as long as I used to be. Not that it really matters, but since you asked I guess it doesn't hurt to re-restate my position.

The slow rollout plays against G* for many reasons; here's a few:

1. Cash is always better sooner rather than later.
2. G*'s debt time bomb still exists, notwithstanding BLS' statements that partner financing is basically in the bag. While I'm confident that G* will get its partners to throw in another $350 million +/-, the fact remains that the sooner G* shows actual MOU the better the terms will be (since the debt will likely contain a conversion feature) and the less additional debt will be required.

I may be sounding like a broken record, but that's simply because I've listened to BLS' broken-record promises for 4 years and I'm, justifiably so in my opinion, very jaded towards anything he says, particularly when it comes to timing.

The last time I checked, G* didn't have a right to the Q's cash flow or cash on hand. In fact, IJ's been hesitant (publicly at least) to commit more funds to G* (although they are full steam ahead with many G* products).

I think concerns are very warranted for G*. I also think that extraordinary upside also exists, if things fall into place.
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