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

To: djane who wrote (6445)	8/12/1999 2:49:00 PM
From: Rocket Scientist	Read Replies (2) \| Respond to of 29987

More troubles for ICO... ICO forced to revise funding plan Reuters Story - August 12, 1999 14:03 marketwatch.newsalert.com Apparently, even the 600M$ from strategic investors is at risk. In the spirit of diversification and learning more about G* competition, I took a small position in ICOGF a few weeks ago. Two days ago I got the package inviting s/h to the "special meeting" to be held August 28 in Paris to vote on the 600M$ package. It was a pretty grim letter, to say the least. Most relevent part: "It is important for all shareholders to understand that if the s/h do not approve the financing proposal... and if no alternatives are presented, the ... BoD would expect to immediately .... consider whether it should make filings under relevant insolvency laws. If such filings are required, there can be no asurance that the s/h will receive any value for their shares in the company."