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

To: John Walliker who wrote (10607)	3/8/2000 7:45:00 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 29987

Looks like we will have the sand box to ourselves for awhile longer, now if we can only get someone to play... Jeff Vayda ICO System Cost To Rise 69 Percent (Space News, 03-13-00) The ICO Global Communications constellation under the management of Craig O. McCaw will serve up to 10 million users of satellite telephones and medium-rate data terminals, including a feature permitting Internet users to maintain their terminals in an "always-on" mode, according to court documents filed outlining the system. The new data capacity will increase the cost of the entire ICO system by at least 69 percent, to $7.1 billion, according to the documents. This includes $1.2 billion in McCaw-led financing to take the company out of bankruptcy proceedings, an additional $2.1 billion needed to upgrade ICO's ground infrastructure and $700 million in operating expenses needed before ICO reaches positive cash flow in 2004. The remaining $3.1 billion already has been raised and spent by ICO. (Not available on the web)