Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (6382)	8/8/1999 12:47:00 AM
From: djane	Respond to of 29987

China To Issue New Mobile Phone Licences RDSL 05 August 1999 The Chinese government is planning to issue one or two new mobile phone licences. However, the new operators are unlikely to be operational until 2001 even if the licences are awarded quickly. China is signing up over 1 mil new mobile phone subscribers/mo and is expected to have over 40 mil subscribers by end-1999. Abstracted from Network Briefing ¸ EMAP Media 1999

To: djane who wrote (6382)	8/8/1999 10:13:00 AM
From: Jon Koplik	Respond to of 29987

To all - my post from the Iridium thread. ******************************* To: Marty Rubin who wrote (2284) From: Jon Koplik Sunday, Aug 8 1999 10:08AM ET Respond to Post # 2289 of 2289 Thoughts from someone who still thinks IRID will go to near $0.00 a share. (Sorry, but that is what I think). The real killer in the latest news was the following : Service payments on the remaining one third of the total debt will be made with cash or common stock. In addition, future interest payments on the convertible bonds will be paid in common stock at a slight discount to the market** or payments in kind, the investors said. The whole rest of the news on the framework for carving up Iridium between current equity holders and current bondholders seemed surprisingly lenient to the the equity holders. I am used to the attitude of "Hey, without us bondholders budging, you've got 'zip.' You're lucky if we give you ANY ownership piece of the newly reorganized entity !" (Explanation for those who did not take "Corporation Finance 101" at business school -- if any part of a bond promise is defaulted on, then IT IS OVER ! The equity holders have zero, the bondholders have 100 % of whatever is left of the company at that time). These payments in stock can be extremely dilutive in a very short period of time. The company would need to do brilliantly, very quickly, or there would soon be zillions of common shares outstanding. Jon.