Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 63.18

-1.8%

Nov 13 3:59 PM EST

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To: Maurice Winn who started this subject	4/4/2001 1:18:20 PM
From: pcstel	Read Replies (2) of 29987

The beginning of the End!! quicken.excite.com <snip> Globalstar also plans to use its available funds on progress payments toward the $18 million cost of eight additional satellites being constructed by Space Systems/Loral Inc., a subsidiary of Loral Space & Communications Ltd. (LOR, news, msgs). Globalstar will also use available funds for the development and maintenance of its ground segment by Qualcomm Inc. (QCOM, news, msgs) at a cost of $40 million. . <snip> BLS asked the Bondholder for patience during the re-org w/ Blackstone.. He said that "very little" of the Cash On Hand would be expended during the process.. Now, He comes out and says.. We are going to pay SSL 18 million for spare satellites.. And QCOM 40 million for ground segment development out of the 180 some odd million cash on hand.. Oh, yeah... The Bondholders... We are not going to offer you anything.. We are going to take the money we owe you Mr. Bondholder, and pay it to the partners for their liabilities... I don't think you are going to need to use the actuator Pierre (my only friend).. It's gonna' be over pretty soon. IMO PCSTEL

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