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

To: Maurice Winn who wrote (21693)	2/1/2001 10:37:31 AM
From: Pierre	Read Replies (1) \| Respond to of 29987

Pierre, I am genuinely sorry that I am not paying you the money on time. That's OK, Maurice - loans, investments - it's been a bad year all around. I will say you're the only equity holder that bothered to apologize regarding your missed payment. I was preparing my own apology to the note holders just a short while ago, and then said to hell with it and became a note holder myself. A famous American once said "neither a borrower nor a lender be." I'm determined to prove him right on both counts. <g> what will you do with them (sats) Pierre if QUALCOMM doesn't like your terms and refuses a licence? That's why this bond holder will vote for BK unless the reorganized G* is free from the shackles of VOD and BLS. That leaves me and the Q. That's my point. Wouldn't you be happy with a whole lot of shares instead of debt, if the company was then debt free ...* Sure, that's actually why I became a bond holder. It's exactly where I'm trying to go. I'll play ball so long as I'm assured VOD and BLS are stripped of their strangle hold. Absent that I'll take my nickel on the dollar in BK - short VOD and buy more Q* - and wait to see what rises from the BK ashes. If Q* ends up owning it with no partners and no debt for $25 Mil, I'll double down on Q* and wait for a spin off. <gg> Pierre

To: Maurice Winn who wrote (21693)	2/1/2001 11:23:52 AM
From: pcstel	Read Replies (1) \| Respond to of 29987

Maurice: A couple of things.. "But when the exclusivity agreement is breached by the service provider, it makes sense to me that Globalstar LP would be entitled to take possession of the gateway at the original price. " If you remember... way back when.. The "original plan" called for something around 150 Gateways world wide.. So the "exclusivity agreements" were set up, it seems, so that if one SP in a given area did not perform.. Then another competing "SP" would be dying for a chance to market G.. Soooo.. All they would need to do is.. Order up another Gateway from Qualcomm.. Remember, Globalstar had "grand designs" on the Gateway manufacturing business, to the point that they wanted "competition" in the Gateway manufacturing business.. Qualcomm had to offer to license another manufacture Gateways!! No one ever took them up on it! So I don't think when these original Service Provider Agreements were laid out.. G ever had the thought that they would be stuck in this position!! They thought there would always be "someone willing to buy a Gateway for competing services. So I really doubt G* has the ability to "buy back" those Gateways!! <Also, QUALCOMM gave GlobalstarLP an exclusive licence to use the CDMA technology. In the event of a liquidation, I guess a licence wouldn't automatically be made available to a new constellation owner on the same or any terms. > Yeap!! That's right.. Well, they really did not give it to them.. It's not an Asset of GLP.. Qualcomm "granted" GLP the use of a license.. According to what I have read!!! No one takes over without the "complete cooperation of Qualcomm and L/Q partnership".. <Wouldn't you be happy with a whole lot of shares instead of debt,> Nope.. Sorry, Maurice.. I want my interest paid for 3 years in equity.. Based on the "market price" of the equity at the given time.. (I am fair). Then I want the cash payments for my interest that are left on my notes.. And then I would hope to receive my "face value" in 6 or 7 years.. PCSTEL