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

To: mmeggs who wrote (2606)	1/21/1999 12:03:00 PM
From: Rocket Scientist	Respond to of 29987

Somebody help me understand how this will work for a GSTRF s/h. According to the last 10Q, GSTRF had 82M shares outstanding, representing a 34.8% stake in GLP and each GLP partnership interest was equivalent to approximately 4 GSTRF shares. Therefore there are about 59M partnership interests now outstanding, of which GSTRF owns 20.5M. Is it correct that when these CPEOs are eventually called, GSTRF's shares outstanding will increase by 7M and it will acquire 1.75M partnership interests in GLP, thereby increasing its stake in GLP to 22.2M/60.75M, or 36.5%. So it seems to me that the dilution of a GSTRF s/h is on the order of 4%. [(.36560.75)/90M is about 4 % less than (.34859)/82M.] Is that right? Is there an easier way to figure it out? Anyway it seems like a relatively painless way to raise money.