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

To: Jon Koplik who wrote (13668)	6/20/2000 11:10:00 AM
From: Jim Parkinson	Read Replies (1) \| Respond to of 29987

Here is the latest from an engineer who I spoke with this am: 1. The data software loaded perfectly in the Clifton gw last week. Now installing the hardware. 2. Data capability will now be loaded in the other No. Am gateways within weeks. 3. Expect to start voice msg out of Clifton as soon as next week. 4. 800 #'s well, "any day now." (That part hasn't impressed me. I really hope voice msging and data goes much better. I was told on 1/26/00 that 800#'s were 10 days away. Not!)

To: Jon Koplik who wrote (13668)	6/20/2000 9:02:00 PM
From: Dennis Roth	Read Replies (1) \| Respond to of 29987

Globalstar responds to naysayers internettelephony.com NewsNow Story June 20, 2000 CEO releases statement on financial status KELLY CARROLL Globalstar has been spending a great deal of time in the spotlight since it released its first quarter earnings report. And although the light was not shining down on the company?s positive aspects but instead on speculation that it might not be able to raise the funds it will need to operate, the company remains confident. In response to negative reports and industry whispers, Bernard Schwartz released a statement to reassure the investment community, which will help his company move forward, that Globalstar is on track. ?We are confident in our ability to raise funding as required to meet Globalstar?s needs and at the appropriate time will consider several options available to us, including support from our partners,? Schwartz said in his statement. However, as previously reported, although the company maintains it has sufficient funds on hand to continue the deployment of its satellite system, it expects it will need additional financing by September or October. Although the company?s dismal first quarter performance caused its stock price to plummet, Schwartz expects the company will be in a more favorable position by the September, October timeframe because of the anticipated deployment progress. This also might boost its stock price, which will put it in more positive light with investors. Regardless, its own investors--Loral Space & Communication, Qualcomm, Vodafone AirTouch--are up to date on the company?s performance, Schwartz said. In fact, in his statement Schwartz assured that its ?partners are aware of its funding requirements and have indicated intentions to support the project to its successful conclusion.? While it was reported that the company?s requests for additional funding were rejected, the company maintained that this is inaccurate. ?There have been some misleading and distorted reports over the newswires and around the water coolers of the world,? said Mac Jeffery, senior director of communications for Globalstar and Loral Space & Communications. Therefore, the company released the report to address the many inquiries and concerns it had been fielding, Jeffery continued. Industry reports have stemmed from the fact that the satellite communications provider generated $608,000 in the first quarter and is expected to reach a total of $160 million for the year. The lack of revenue could mean that the company would be forced to repay a $250 million loan by the end of the month instead of in December as was originally planned. If the loan must be repaid this month, then the company would have to raise additional funds. =================== I don't think the last two lines are right. There isn't a $250 million dollar loan suddenly coming due at the end of the month