Here is the $5.3 billion quote from Iridium's 10K. It is the amount necessary until the project is cash-flow positive.
Funding Requirements
Iridium expects to commence commercial operations on September 23, 1998. Iridium currently estimates that aggregate cash funding requirements from the commencement of development (June 1991) through the anticipated commencement of commercial operations will be approximately $4.4 billion. At year end 1996 and 1997, Iridium had expended approximately $2.40 billion (or 55%) and approximately $3.42 billion (or 78%), respectively, of such $4.4 billion estimate. Iridium estimates aggregate cash funding requirements of approximately $5.3 billion (net of assumed revenues following commencement of commercial
operations) through year-end 1999, the last year in which Iridium projects negative cash flow and a net increase in year-end borrowings. At year end 1996 and 1997, Iridium had expended, since inception, approximately $2.40 billion (or 45%) and approximately $3.42 billion (or 65%), respectively, of such $5.3 billion estimate.
Here is G*'s cost per 10K:
As of December 31, 1997, Globalstar estimates the cost for the design, construction and deployment of the Globalstar System, including working capital, cash interest on borrowings and operating expenses to be approximately $2.7 billion, as compared with approximately $2.5 billion estimated at December 31, 1996. Actual amounts may vary from this estimate and additional funds would be required in the event of unforeseen delays, cost overruns, launch failures, technological risks, adverse regulatory developments, or to meet unanticipated expenses and for system enhancements and measures to assure system performance and readiness for the space and ground segments. |
