Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 56.80

+0.2%

3:59 PM EST

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To: pcstel who wrote (21741)	2/1/2001 8:01:45 PM
From: Pierre	Read Replies (3) of 29987

Well, pcstel - I've found the language in the prospectus. Printing it out now and want to read it more carefully as lots of references contained in the language. Let's assume your right (again). You have postulated that BLS has played chicken with the bond holders in order to dissuade them from forcing BK. Now you seem to have found language that gives LOR and Q* the power to rescind any action taken by bond holders "under certain circumstances" - need to see what those are, of course. Also, do you see the default provisions and limitations such as they are extending beyond the maturity date" Since Q* and LOR have the power to forestall what you have suggested BLS was posturing to forestall, how do you explain BLS's actions. Why'd he do what he did (to paraphrase Mary Ann Faithful, who sounds a lot like Heather Nova) if he didn't have to. Second question: If you're now satisfied that he can prevent the bond holders from forcing BK, are you a buyer of equity here? If not, why not? Thanks for taking the time to look through this. I appreciate your effort, I really do. Of course, I'm feeling no better. It appears I've gone from impotent share holder to neutered creditor. I've limited my upside to a mere 10 bagger when, at 9/16th the equity looks to be a gazillion bagger. My down side ain't looking so hot either - where I might have lost my entire investment as a share holder, it appears I can be made to wait indefinitely to exercise any rights as a creditor - net effect is wipe out in either case. Maybe I'll buy some LOR. Stand shoulder to shoulder with HMS Bernie. Tell those impudent bond holders to pound sand. God, I wanted so badly to pi on one of the partners just for a small measure of revenge. Now it looks like I'll need a quarter tab of viagra just to avoid piing on my own shoes. Can life get any bleaker? :>) Pierre

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