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

To: Geoff Goodfellow who wrote (3640)	3/30/1999 11:33:00 AM
From: Tin	Read Replies (2) \| Respond to of 29987

13 3/16... this is what we got today. By this rate, we should see 0 within 15 days!

To: Geoff Goodfellow who wrote (3640)	3/30/1999 2:04:00 PM
From: Geoff Goodfellow	Read Replies (1) \| Respond to of 29987

more details on ML Iridium downgraded to neutral biz.yahoo.com NEW YORK, March 30 (Reuters) - Merrill Lynch said Tuesday it has downgraded Iridium World Communications Ltd.'s (Nasdaq:IRID - news) intermediate-term rating to neutral from accumulate and cut the long-term rating to accumulate from buy. The global satellite telecommunications company said on Monday that its chief financial officer had resigned and it hadreceived a two-month extension from its lenders to prove Monday that its chief financial officer had resigned and it hadreceived a two-month extension from its lenders to prove it could meet certain revenue and subscriber targets. -- Merrill Lynch cut the intermediate-term rating due to liquidity concerns. -- remained confident about long-term prospects but lowered the long-term rating until the company's funding availability and its new business approach seen as improved. -- expected Iridium to change its business plan to increase its focus on industry markets, direct selling by Iridium and lower pricing. -- projected Iridium must raise an additional $1 billion over the next two years, requiring stakeholder Motorola Inc. (NYSE:MOT - news) or the company's banks to make substantial additional financial commitments. -- said Iridium was making operational progress, but ''slippages'' were continuing. Said Sprint still had not begun its distribution of Iridium services. -- saw Iridium as six months to nine months behind schedule overall. -- said Iridium indicated it would implement cost-cutting measures. -- said the company's announcement of first quarter results on April 26 should provide the next status report on the company's progress. -- expected Iridium to post a first quarter profit loss of $3.00 a share. Shares of Iridium fell $3.875 to $16.50 on Nasdaq. The losses added to the weakness seen on Monday.