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

To: Rocket Scientist who wrote (17697)	10/6/2000 7:45:45 PM
From: pcstel	Read Replies (1) \| Respond to of 29987

RS "As for the pre-sold minutes, with all due respect, the "revenue" can only be booked as and when the service is rendered....that's just GAAP-101." With all respects to GAAP-101 procedures.. It is my understanding that OTHER Wireline and Wireless Service providers book revenues on Pre-paid wireless accounts, and Pre-paid calling cards as the revenue is received!! Not as the service is rendered!! Maybe the post-office should examine those GAAP procedures also.. Heck, I buy a book of stamps and have to pre-pay for the service of having a letter delivered, even if the stamps sit on my desk for months.. The Post Office must have Billions of Dollars in un-recorded revenue with all those postage stamps in the hands of collectors. Did the post office count pre-payment of services to them as revenue.. Sure they did! So maybe the Service Providers that Agreed to the Advance Purchase could have at least given GLP the money up front.. That's what Advance Purchase means Isn't It?? Now GLP could have received the money, stuck it in a bank account, without entering it as actual revenue? It could have been entered as "Restricted Cash" or something like that? Claiming that the reason the "Advance Purchase" became a "Commitment to Purchase" due to GAAP-Kindergarden accounting principles is just "hyperbole". PCSTEL