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

To: Serendipity who wrote (20621)	12/28/2000 2:28:15 PM
From: KyrosL	Read Replies (2) \| Respond to of 29987

pcstel explained his position in great detail over and over on this thread. He thinks that BLS will propose that the bondholders accept equity in lieu of interest for the next 2 years or so until G* can stand on its own. The alternative is bankruptcy in which case G* may not be worth much to anybody.

To: Serendipity who wrote (20621)	12/28/2000 3:08:11 PM
From: pcstel	Respond to of 29987

Serendipity, "And why do you call me Mr. Bondholder? I have no position in Globalstar equity or debt. Did something I post imply that I did? " Sorry, I did not mean to imply that you are a bondholder!! I just ment to fortify my posts of a month ago or so regarding some SPECULATION of a interest for equity swap with Bondholders... The Globalstar system is "worthless" in Bankruptcy.. Globalstar is simply a constellation of "repeater" satellites in Low Earth Orbit.. The only access to these Satellites is through expensive and time consuming installation of Gateways.. The Gateways (and regulatory approval is some cases) are owned by other companies, and are not owned by GLP. As I have eluded to before.. It is like owning bonds that were used to build a 15 lane super highway that connects every city and town in the world.. However, the only Entrances to and Exits from this Super Highway to the rest of the worlds roads is via Specialized On/Off Ramps. And the owners of these On/Off Ramps are under no obligation to let the "prospective new owners/bondholders" use their On/Off Ramps.. So the bondholders are welcome to lay claim to the 15 lane Super Highway that goes everywhere, but is impossible to use because they don't have rights to the On/Off ramps.. They couldn't even take the family on a Sunday drive on it!! PCSTEL