Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 62.88

-0.5%

Nov 14 9:30 AM EST

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To: Jeff Vayda who wrote (21760)	2/2/2001 1:11:27 PM
From: pcstel	Read Replies (1) of 29987

Jeff.. I believe the rules that were "written" are basically the same rules that other Bond Offerings are "written" with!! With maybe a few changes!! But, Q and L (together) have created a "corporate structure" where the assets of the corporation, Have little or no commercial value without the cooperation of the "suppliers of the key technology used", and the "owners of the unique revenue generation enabling technology i.e. "Gateways". Whereas. Iridium was structured in the same matter. However, the bondholders "Mistakingly" did not understand this "complex" corporate and technology structure.. So they pushed the Big BK button.. Because they thought that Iridium had "Huge Commercial Value".. However, they learned their lesson the hard way!! Just as Globalstar's Bondholders must look at the current situation and look at what Iridiums' Bondholders received, and decide if it is in their "Best Interest" to file a BK petition.. or see what Blackstone can come up with? If there was going to be a "Cash Grab" by the Bondholders.. Then time (and Cash) is wasting away!! IMO, PCSTEL

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