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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.
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To: Maurice Winn who wrote (20)4/25/1996 9:24:00 PM
From: Don Limb   of 381
 
Maurice...just received my Loral Space Comm Information Statement. It
goes into great detail about the goals and objectives of each Loral Space
participant. I'm right in the middle of reading it tonight. Had to go
to my daughters' 1st grade enrollment at her school. Interesting stuff
for the first few pages. Like 33.7% of Globalstar, LP, 32.7% of Space
systems/Loral, exclusive rights to provide service in Globalstar service
in Canada, Brazil, and Mexico, $615M in cash, and $100M in Globalstar
Telecomm Convertible Obligations. Also Loral Space has $984M of equity
and only...get this...$13M in liabilities. As I read through this, I see
that Globalstar has about 75% financing available for their system, with
the remainder possibly coming from its' strategic partners. I wouldn't
doubt Bernie can come up with the rest, since he has $615M in cash. BTW,
Globalstar's wholesale prices are expected to range from $0.35 to $0.55 per
minute. Their competitors are expected to range from $1.00 to $3.00 per minute.
One other thing...I was wondering about the delay one might experience
using the satellites, but find out that Globalstar is using a low-earth
orbit of 750 miles. As an old hand in data comm., I think this will be
a very big obstacle for Iridium to overcome. Hey, thanks for the info
about Globalstar's deal for hand-sets. Check out my home page at http://
www.ghgcorp.com/dlimb. See ya, Don.
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