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

To: Steven Rachbach who wrote (8365)	11/15/1999 6:10:00 PM
From: Rocket Scientist	Read Replies (2) \| Respond to of 29987

G* 10Q for Q/E 9/30 is available at FreeEdgar. Main changes from last qtrs report: 1. Re: Gateways, new reprt says "By the end of 1999, Globalstar expects to have a total of nine gateways in operation." Previous report: "at least 14 gateways in operation" 2. Re: satellites, "first 40 Globalstar satellites have reached their final orbital positions" was "The first 26..." 3. Re: financing, now "raised or committed" 4.2B$, was 3.8B$ (difference appears to be Qualcomm vendor financing, for which the terms "are still being finalized" but are expected to include warrants "similar to that received by Loral") 4. This Q's report does not have date of projected achievement of positive cash flow (was 3rd Q 2000) 5. The report adds detail about anticipated expenditure and receipt of cash for UTs and GWs. If I read it correctly, will contribute positive cash flow to G* of about 160M$ in Q4 6. The report adds for the first time the anticipated "burn rate" for interest plus operations of 125M$.