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

To: djane who wrote (7443)	9/17/1999 9:59:00 PM
From: djane	Respond to of 29987

Info/rumors on I* restructuring -- 1/00 relaunch Top>Business & Finance>Investments>Sectors>Services>Communications Services>IRIQE (Iridium World Comm. Ltd.) It is my understanding that by: ChinaScho_81 (36/M/Mountain View) 32099 of 32115 is targeting Jan for new launch of company. Rights offering to be issued to all current holders and existing common will be cancelled. Debt load will be 20% of what it was. That should help tremendously. Current common worthless BUT you have rights to buy "new" stock for cash plus get warrants. That is what I am being told. Is anyone hearing something similar? Posted: 9/17/1999 6:24 pm EDT as a reply to: Msg 32098 by ratchetboy99 ____________________________________ Top>Business & Finance>Investments>Sectors>Services>Communications Services>IRIQE (Iridium World Comm. Ltd.) China by: startek_99 32101 of 32116 Where are you getting this info from? I would be most interested to know the source of this information. The current stipulation that allows Iridium Operating to use collateral (cash on hand) to keep the bizness running, is set to expire on October 15, 1999. This is in the pleadings filed in the Federal Bankruptcy Court. If this fall through, their ain't going to be no company left. That would also be a tad shy of Jan. The pleadings referred to are all available here: nysb.uscourts.gov case no. 99-45005 Note: Not only did motorola not object to the stip, they signed on. Posted: 9/17/1999 7:03 pm EDT as a reply to: Msg 32099 by ChinaScho_81 ________________________________ Top>Business & Finance>Investments>Sectors>Services>Communications Services>IRIQE (Iridium World Comm. Ltd.) startek, I never disclose my sources by: ChinaScho_81 (36/M/Mountain View) 32104 of 32116 and I am not stating my posts as fact. It could be 100% BS but I have heard it from two independant parties which leads me to believe a deal is near. The long delay between a deal now and January is there is a "mountain" of legal issues to be handled eventhough a deal in principal may be reached. Crossing the t's and dotting the i's. I will not guarantee the accuracy of what I heard, that is why I am curious if others are hearing anything similar. Posted: 9/17/1999 8:06 pm EDT as a reply to: Msg 32101 by startek_99