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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (522)	5/27/2005 5:29:23 PM
From: Dennis Roth	Read Replies (1) \| Respond to of 543

I stand corrected. I know they did that with LWIN ( Leap Wireless ) and assumed they had done it with GSTRF. But I see in their SEC filings done last June and July biz.yahoo.com biz.yahoo.com that there is this promise, GTL shareholders of record on June 28,2004, have been granted certain rights to participate in certain specified public offerings of securities that may be issued in the future by the success or entity to Globalstar, L. P. No assurance can be given that such right or such offering, if any, will be of value to GTL shareholders. "Section 6.9 Right to Participate in First Public Offering. Thermo will use commercially reasonable efforts to provide that all shareholders of record of Globalstar Telecommunications Limited, a Bermuda corporation, as of the Plan Effective Date have the opportunity to acquire securities in the first underwritten public offering of equity securities, if any, made by NewGlobalstar (or any successor corporation) on or before the third anniversary of the Interest Acquisition Date at the price such securities are offered to the public and in such amounts as New Globalstar determines to be appropriate after consultation with the managing underwriter or underwriters for such offering, provided that so doing will not result in any additional material expense to NewGlobalstar, have an adverse effect on the success of such offering or result in any material delay of the completion of such offering." I guess it must trade on that. Yahoo gives it a market cap of 791.41K finance.yahoo.com Hard to believe that it's still around and trading on a vague promise of a right that may not be of any value.