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

To: timers who wrote (14087)	7/2/2000 7:07:00 PM
From: KyrosL	Read Replies (1) \| Respond to of 29987

G* drew on the $250 million line of credit from Chase and refused to pay, thus forcing the guarantors to pay, for a very simple reason: it is by far the best financing solution for the current G* shareholders. It would have been very dilutive to try to get $250 million in the next few months via a debt/equity deal in the current negative environment. G* bought an extra 6 months of operations with no dilution for its stockholders. I applaud G* management for this. If G* will not show substantial subscriber growth by the end of 2000, I will join you in shorting the stock. Right now I think the odds are clearly in favor of the longs. Kyros