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

To: Curbstone who wrote (21740)	2/1/2001 6:35:19 PM
From: pcstel	Read Replies (1) \| Respond to of 29987

aloha: The Prospectus says that it requires 25% of the OUTSTANDING NOTEHOLDERS.. Not the BOND HOLDERS.. The NOTE HOLDERS include Qualcomm, Loral, and the Bondholders! So since we don't think Qualcomm and Loral are going to "demand accelerated payment". That means that the Bondholders.. Who hold less than 50% of the outstanding NOTES would have too!! So in order for the Bondholders to get together 25 % of the "outstanding NOTE Holders".. That would require more than 50% of the outstanding Bondholders... Then even if they were to amass this crowd.. A simple majority (It's a Democracy.. Not a Democratic Republic.. So there is not an electoral college, Every Dollar get a vote.. No Housemankeing Tart from Santee to vote Proxy for you).. of the outstanding NOTEHOLDERS.. QUALCOMM/LORAL included could "rescind" the vote of the 25% of the total "NOTEHOLDERS" who voted for the acceleration!" It is up to you and your Legal Representitives to decide what "Demand Accelerated Payment" and all the supporting documentation above means!!! <I can only hope that you know what your're talking about because I certainly don't.> It is always better to consult your Legal Advisor on such issues!! IMO.. PCSTEL