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

To: Ok2Launch who wrote (12121)	5/4/2000 10:33:00 AM
From: MarkR37	Read Replies (1) \| Respond to of 29986

Bear Stearns CC by: EquityVal 5/4/00 9:51 am Msg: 37812 of 37818 Bear Stearns is having a "virtual" satellite conference by phone today and Bernie was the leadoff speaker. Here are the headlines: -he caveated the whole presentation by saying that data was only available for a few weeks of service and that it was hard to extrapolate from it -phone usage in April in selected countries was 118K minutes for the month (he indicated this was an average of 8 countries 6 at beginning of month, 10 by end, I'm assuming these are the most advanced from a rollout standpoint) -he reiterated that they can't tell which minutes are revenue and which are non revenue. -he said mobile phone usage was 140 min/month which I assume to include both paying and non paying phones - combining this with the above usage numbers implies about 850 phones in regular usage -he said there were 73K phones "in the system" which I assume means built and shipped or ready to ship -nothing said about the status of fixed phones -25 countries were in service (system working, phones in dist) as of 3/31, 36 as of now and 11 more to be added by June -China and Moscow area of Russia coming on line by end of May, UK lauch event with Chris Gent on May 24 -Cash at 3/31 was $232MM. He said that without revenue or extension of the credit agreement, they need $160MM to get to year end. No word on status of bank agreement -data service will be commercially available Q3 (a slip from the previous target of Q2) More words from Bernie: -Airtouch starts 2nd phase of mkting program today 20% funded by GLP and 80% by AT -Ramp in Australia very strong, last 3 weeks of April up 6x (not clear if that was usage, subs or what), and good news for Maurice, they have ordered a 4th GW for NZ -phones have been sold to 15 gov't agencies (which I infer to be US agencies) including Marines, Army & AF. In discussion about transitioning the Iridium subs in military -7 provincial gov'ts in Canada have purchased -Red Cross has ordered 100 phones -phones were used by: FBI in Egypt Air crash, UN forces in Kosovo, French flood relief, Brazilian police during Carnival, and by the San Diego police -also interest from Native American reservations -two blanket statements during call "introductroy build up may be slower than expected" and "all early trends moving in right direction" -when pressED about when more substantive statistics would be available, he said they should have solid usage/sub data after Q2 -in response to a question about where additional funds would come from he said the partners are ready to fund G* -in reponse to a question about how many phones QCOM had produced/shipped he said that phone demand varied siginficantly between distributors and that they were sending people out into the field to try to understand this - TB be ready for that call from Tony, sounds like they need ground troops. ---