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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: S100 who wrote (201)	5/16/2000 12:35:00 AM
From: Maurice Winn	Respond to of 543

<In connection with this agreement, Qualcomm received warrants to purchase 3,450,000 Globalstar partnership interests at an exercise price of $42.25 per interest. The exercise price was determined by reference to the fair market value of GTL's common stock on the closing date of the vendor financing, based on an approximate one partnership interest for four shares of GTL common stock. Fifty percent of the warrants vested on the closing date. The remaining 50% will vest generally in two equal installments on September 1, 2000 and September 1, 2001. The warrants will expire in 2007.> Well, what a coincidence. It seems that maybe that 3.5m shares bought, cancelled, bought all in a day or so must have related to the vendor financing by QUALCOMM. That timing was unfortunate given the WSJ comments. It must have caused a few phone calls and maybe even expletives. Since the WSJ article had already come out and there had been a little price rise, maybe this discussion actually saved Globalstar shareholders a dollar or two on the warrant issue price. A shame we hadn't all dehypothecated straight away rather than leaving it for a few weeks to let people think about it for a while and figure out what to do, if anything, so that the market was free, fair, open, blah, blah, blah... I think people can conclude from this arrangement that QUALCOMM is prepared to back Globalstar and that $10 a share is not a bad price for Q! So you cannot expect to see G! get down to $5 if Q! is happy to buy it at $10 [albeit only the warrants for purchase 4:1 at $42.25. Shorts better start covering! You've had a week or two already with no price move, so don't whine if people do dehypothecate and that causes a price increase. Mqurice PS: Just noticed it was S100 who posted that warrants item! Thanks S100 and hi! Thanks too for this info [last November] on HDR: < I am quite familiar with tcp/ip. Each packet has lots of identifying data , to, from, number of packets, which packet it is, etc. No problem with a program not receiving the packets in order or with a delay. tcp/ip plus other parts assemble the packets into the complete item (picture, document or what ever) , will retry if blocks are missing or checks for parity errors show something amiss. Only when complete and correct(with some small chance of missing an error)will tcp/ip pass the item to the requesting program. > Ruffian, HDR isn't available on G! yet. I suppose it will be on Constellation2, and maybe on Constellation1 in a couple of years. Don't know sorry.