Just on number of shares in case people miss it in Loral thread. By the way MikeD, I only own GSTRF, no LOR. Hehehehe!!
Subject: Re: G* shares outstanding
Date: Fri, Feb 20, 1998 14:12 EST
From: Readware
Message-id: <19980220191201.OAA26316@ladder02.news.aol.com>
We have been over this G* share oustanding a number of times, to answer your email, and the relation of Globalstar Telecommunications to G* Limited Partners. The "float" (the shares that trade in the Over the Counter exchange) of Globalstar Telecommunications is 31 million shares; fully diluted (which means when all warrants etc. are exercized, entitling the warrants exercizer to the common shares of Globalstar common), you get about 42 million shares. The convertible shares are into Globalstar Telecommunications, not Globalstar Limited Partners.
Globalstar Telecommunications is Globalstar Limited Partners as publicly traded. Projected earnings numbers, operating cash flow, and the like stated for Globalstar Telecmmunications are the same numbers which apply to G* Limited Partners. It is not the case that the numbers stated for Globalstar Telecommunications are 29% of that.
So, if one states Globalstar will earn, e.g., $15/share in 2002, you do not take 29% of that and say that is what the owner of the publicly traded shares gets. His shares get $15/share, just as the shares of Globalstar Limited Partners gets $15/share.
I do not know if Globalstar will split its stock. That is a decision the Globalstar Board makes. A stock split does not change the fundamental outlook of the company in any way. |
