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

To: Jeff Vayda who wrote (27835)	5/24/2010 12:50:17 PM
From: pcstel	Read Replies (1) \| Respond to of 29987

I guess, spending your own money is still more impressive than spending someone else's, but I think they should not trumpet the deal quite so loudly with out some disclosure. I think the investment into Open Range is fairly disclosed in the 10-K?? We have also agreed to make a $5.0 million preferred equity investment in Open Range, $1.0 million of which was made available on November 1, 2007 in the form of a loan. Under the agreement Open Range will have the right to use our spectrum within the United States in the 1.6 and 2.4 MHz bands to provide terrestrial wireless broadband services. Open Range has an option to expand this relationship over the next six years. The agreement is contingent on various conditions, including receiving authority from the FCC to use an expanded portion of our licensed spectrum for ATC services and such other FCC and other governmental approvals as may be required for the agreement, and Open Range's completion of its equity and debt financing. On their web site.. It clearly states.. Globalstar made a critical early stage investment in the company and helped arrange Open Range's spectrum licensing agreement with Globalstar. Open Range received subsequent investments of $100 million and $267 million from One Equity Partners, the private equity arm of JP Morgan Chase and U.S. Department of Agriculture's Rural Development Utilities Program respectively. thermotelecompartners.com PCSTEL