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

To: Geoff who wrote (540)	3/24/1998 6:44:00 PM
From: Snake	Read Replies (1) \| Respond to of 29987

Geoff, GSTRF has 30 million shares outstanding. Fully diluted, taking into account convertible preferred and most importantly, shares reserved if Globalstar L.P. owners convert partnership units into GSTRF stock is 116 million. Thus, GSTRF could one day be the operating entity so to speak, with 116 million shares and the same relative ownership of the current operating entity. GSTRF by-laws say 200 million outstanding. If you split 116 million shares then you go over the amount currently authorized. Thus, you must increase authorized shares to a higher number, in this case management is recommending 600 million. Does this mean 3-1 split, maybe, but they may just be making room so if they need to split again in a year, they can do it without a vote. Look for 2-1 split.