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

To: John Stichnoth who wrote (4842)	5/21/1999 7:36:00 PM
From: Rocket Scientist	Read Replies (1) \| Respond to of 29987

John Stichnoth, I may be wrong about this, but it seems to me the dilution is a little less than 6%, not 10%. Here's how I get the number. Presently, GLP has 82Mshares and owns 34.8% of the company (3/99 10Q) Upon conversion, 15M shares of GTL issue (3/99 10Q) bringing us to 97 and GTL converts the RPPIS bringing its ownership to 38.8% ('98 10K). So each million shares of GTL that are now worth .348/82=.424% of the company will be worth .388/97=0.4%, or about 6% less. The warrants should be a non-dilutive, as I understand it, because for each 4 shares of GSTRF purchased upon exercise, GSTRF turns around and buys 1 PI. I hope someone will correct me if above is wrong...

To: John Stichnoth who wrote (4842)	5/23/1999 1:01:00 PM
From: CMon	Read Replies (1) \| Respond to of 29987

I think you're analyzing the trees and ignoring the forest that I wished to point out. Who cares how the total share count is divided between GSTRF and the partnership interests? If we assume this project will work, then those interests convert to shares of GSTRF in the future anyway. So the real question is: how many shares are there now? or: what's the true market cap of the equity of Globalstar now? I stand by my 250MM number and resulting $5 billion market cap.