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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: CMon who wrote (1694)	4/26/1999 10:17:00 AM
From: Goodboy	Read Replies (1) \| Respond to of 2693

Thank you for that translation.

To: CMon who wrote (1694)	4/26/1999 2:01:00 PM
From: Goodboy	Read Replies (1) \| Respond to of 2693

Smith Barney report issued today states "the threat of a debt restructuring is increasing". Lowered target from $45 to $23 to take into account the likely issuance of dilutive securities to Motorola as compensation for continued support ot as a payoff to debtholders. Analyst mentions up to 13 million warrants being issued with a strike of 1 cent (sound familiar). This is if no restructuring happens. It is good to see one of the former bulls on the stock acknowledge the reality of the situation. As a final point, the analyst mentions in passing that a resturcturing would likely render the equity worth close to nothing. Strange, but it feels like deja vu reading this report. I think I have read the same thing months ago on the SI Iridium thread.