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

To: Valueman who wrote (17332)	9/25/2000 12:15:45 PM
From: Pierre	Read Replies (2) \| Respond to of 29987

vman, how do you read today's news? Have partners expressed confidence in G* or have they simply tossed BLS a bone so he would stop calling every day?

To: Valueman who wrote (17332)	9/25/2000 1:07:07 PM
From: Souze	Read Replies (1) \| Respond to of 29987

G* has filed a new 8-K: freeedgar.com I haven't read it yet.

To: Valueman who wrote (17332)	9/25/2000 1:32:02 PM
From: Michaelth1	Read Replies (1) \| Respond to of 29987

Yes. Here's the quote from the 8-K: From July 1, 2000 through December 31, 2000, Globalstar expects to spend approximately $161 million for the enhancement of its system software, for the eight spare satellites being constructed by Space Systems/Loral, for development work completed but not paid at June 30, 2000, for repayment of vendor financing and for the net financing provided to Globalstar's service providers to assist in the purchase of gateways, fixed access terminals and handsets (net of expected receipts of $129 million from the service providers as repayment of such financing). In addition, cash interest, preferred dividends and operating costs are estimated to be between $100 million and $125 million per quarter for the remainder of 2000. Globalstar expects that its cash on hand ($463 million at June 30, 2000), the drawdown of all its remaining available credit approximately $29 million at June 30, 2000), and, assuming this offering is completed his year, the expected proceeds from this offering, will enable it to end 2000 with a cash balance of approximately $150 million. $150 million (12/31/00 cash) + $68 million (new funding) equals $218 million (or, roughly, May 2001 for new funds required, assuming little revenue (which appears likely to this point) and no additional financing).