Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 56.80

+0.2%

Nov 21 9:30 AM EST

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To: Maurice Winn who wrote (3622)	3/29/1999 8:57:00 AM
From: Goodboy	Read Replies (2) of 29987

As I posted several weeks back, Irdiums CFO sold stock. Iridium has announced today that CFO grant will resign effective April 16. Those of us who have been in the investing business for a while know what it means when a company is having difficulty and the CFO resigns. This comes at the same time as their announcement of a 60 day waiver of their bank facility covenants, which they are now in violation of. This story seems to be getting worse faster than even I thought. It will result in a restructuring that will render the equity near worthless and put the bondholders in a tough position to recover their investment. While this may be a short term negative for Globalstar, it is a long term positive. I maintain Globalstar will be a screaming buy at post Zenit levels.

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