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

To: pcstel who wrote (19512)	11/25/2000 11:54:48 AM
From: KyrosL	Read Replies (3) \| Respond to of 29987

<He stopped the tranch selling!! WHY??> I think there is a simple explanation for this. BLS stopped selling the tranches once the dismal 3Q results became known internally. Continuing the sale of the tranches beyond this point would have opened the door to class action lawsuits by the buyer(s) of the tranches.

To: pcstel who wrote (19512)	11/25/2000 12:10:37 PM
From: KyrosL	Read Replies (2) \| Respond to of 29987

pcstel, we are all speculating here. The main weakness of your speculation is that in the end (after two years of paying bondholders with equity) G* is still left saddled with the same debt as now, limiting its ability to cut prices drastically in order to compete. Another is the fact that G* will still need hundreds of millions of new dollars to operate until cash breakeven. I like my speculation more: Message 14755840

To: pcstel who wrote (19512)	11/27/2000 3:03:26 PM
From: Souze	Respond to of 29987

Pcstel, A couple of your 'facts' about the tranches are a little loose. re: the tranches stopped at 7 1/4 The sixth tranche, which was the second to last, sold at an average price of $6.86. The seventh tranche was sold at a lower price, because the stock was trading lower in that interval, but no exact share price is available. re: There is 60 million in pre-approved tranch sales that represents CASH that this company could extract from those "lower on the food chain", and sell between now and March, 31 2000.. The tranche sale isn't available if GSTRF trades at or below $4.50 on the date of the sale notice. Quoting the 8-K filed 9/19/00: "(b) The Company shall not issue a Notice of Sale, and any such Notice of Sale so issued shall be deemed ineffective, unless each of the following conditions is met: (i) a Notice of Sale was not issued on the immediately preceding Business Day; (ii) Bear Stearns is not subject to a restricted period (as therein defined) of Rule 101 of Regulation M under the Exchange Act with regard to the Common Stock; and (iii) at no time on the Notice Date had the Common Stock traded at a price of $4.50 or less."