Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 62.89

-0.6%

Dec 26 9:30 AM EST

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To: djane who wrote (4885)	5/25/1999 6:16:00 AM
From: Maurice Winn	Read Replies (2) of 29987

<Unfortunately for the satellite companies the troubles have come exactly at a time when they are looking for new capital: Global mobile telephony operator Globalstar LP, of San Jose, California, said it needs $600 million to meet increased costs due to its operational start being delayed by a month to 1 November 1998; ICO Global Communications plc, London, has a near-term need for $500 million in cash, which it is trying to raise through a rights offering;> totaltele.com What's this? First I've heard of delay until 1 November 1998. I thought 1998 had already finished. Maybe they got confused with Iridium starting in 1998 with months delay. Maurice

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