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

To: Rocket Scientist who wrote (22611)	3/20/2001 6:36:15 AM
From: KyrosL	Read Replies (3) \| Respond to of 29987

<the bonds of Psinet, whose stock plunged to $0.19 today on word from mgmt that it was likely to be worthless, are still trading substantially higher than G* bonds > PSINet has $3.6 billion of bonds outstanding, whose current market price is $540 million. Its common stock is worth $36 million. So the ratio of bond to stock market cap is 15 to 1. G* has $2.9 billion of bonds and debt outstanding, whose current market price is $290 million. Its common stock (including partner shares) is worth $170. The ratio of bond to stock market cap is less than 2 to 1. G* stockholders are extremely optimistic and/or G* bondholders extremely pessimistic.