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

To: Pierre who wrote (21772)	2/2/2001 2:27:06 PM
From: pcstel	Read Replies (2) \| Respond to of 29987

Pierre: <Lots of low basis bond holders now who may well insist on risking a relatively modest hit now rather than risk it all for more pie in the sky from BLS.> I believe that "lots of low basis bondholders can divide the Cash on Hand by the total Senior Debt and get the answer of 6 cents on the dollar.. (given todays Cash Balances).. A BK extends the Battle.. Reduces Cash on Hand to a level "far lower" than 6 cents on the dollar!! One would think it would be easier just to make a call to one's broker and take the .10 cents being offered today in the publically traded debt? Unless you are out for vengeance, rather than an investment. And then you only need "one bond" to make that call!! PCSTEL

To: Pierre who wrote (21772)	2/2/2001 2:29:15 PM
From: Rocket Scientist	Respond to of 29987

It seems to me this reorg process is being very carefully choreographed on a strict timeline. So far, as you point out, no one except L & Q have an actionable claim. IMO, Feb 15 will start a 30 day clock; only after it runs down will (at least) some of the noteholders have the right to file. Before then, probably sometime between March 1 and March 15, the "Blackstone Plan" will be released. I expect it will entail a substantial dilution (maybe 80-90%, if all the debt converts to equity) to the common, but not elimination, by any means. A debt free G* with a rationalized marketing/pricing strategy will be worth a lot more than 50 cents per share, even if we have 10X as many shares in the pool. But time is of the essence, because the threat of BK, or it actually happening, has got to be ruinous to the sales effort.