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Technology Stocks : Loral Space & Communications
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To: Larry L who wrote (1230)10/15/1997 11:49:00 AM
From: Jim Parkinson   of 10852
 
Ok, here goes. It's a long one so I will post the highlights.
"Iridium has successfully tested communications links between the 34 satelites it has in orbit, company officials said.
..."we've sent pages and we've sent ring channel burst to test phones" over the satelite network. ...firm has 'successfully tested 75% of the equipment needed to make a voice call." "We're ahead of where we anticipated we'd be at this point."
It goes on to say it plans to begin service in Sept 98 which we already knew.
On licensing it says, "Iridium Chief Financial Officer Grant said the company expects approval of its European licensing agreements by year-end. Thea approval will come from the Conference of European Postal and Telecomumications Administration, Grant said. The company is also making substantial progress in signing licensing agreements in Asia, North America and South America, Grant said." It says they expect a loss in 3rd qtr due to depr which is expected then mentions that thier target market is the business traveler and needs 600,000 subsribers to breakeven. They think they will get 2.5 mil subscribers by 2002 which is consistent with others estimates and those for G*.
Nothing really new here in fact it seems to be a press release just to get attention. Ok with me. The sooner the financial world knows this is for real, the better.

The Teledesic article implies that they have all the freqs tied up. That can't be true can it? There has got to be plenty to go around. Does anyone know where Cyberstar is in that process?
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