Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 63.77

-4.4%

3:59 PM EST

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To: John Stichnoth who wrote (4842)	5/21/1999 7:36:00 PM
From: Rocket Scientist	Read Replies (1) of 29987

John Stichnoth, I may be wrong about this, but it seems to me the dilution is a little less than 6%, not 10%. Here's how I get the number. Presently, GLP has 82Mshares and owns 34.8% of the company (3/99 10Q) Upon conversion, 15M shares of GTL issue (3/99 10Q) bringing us to 97 and GTL converts the RPPIS bringing its ownership to 38.8% ('98 10K). So each million shares of GTL that are now worth .348/82=.424% of the company will be worth .388/97=0.4%, or about 6% less. The warrants should be a non-dilutive, as I understand it, because for each 4 shares of GSTRF purchased upon exercise, GSTRF turns around and buys 1 PI. I hope someone will correct me if above is wrong...

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