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

To: CMon who wrote (4873)	5/24/1999 8:11:00 AM
From: John Stichnoth	Read Replies (1) \| Respond to of 29987

We're approaching it from different sides. My original full statement was on the order of potentially 103MM shares owning 34% of the company. 103 divided by 0.34 equals 302MM shares. That's an implied market cap of $6BN at $20 per share. You assumed conversion of the shares at the present (or recent) 4 to 1 ratio, based on 82 MM shares "fully diluted". The issue is not a difference between 103MM (my number) and 250MM (your number). It is the treatement of the cumulative preferred of GSTRF and the RPPI's of GLP, and also inclusion or not of options and warrants outstanding. By SEC rules they are not included because they are underwater. When G* is successful they will no longer be underwater, and will be included. It is really not that big an issue, anyway. We're all aware of the preferred. We can decide on our own whether they are part of "market cap" or not. That's your judgement to make, and mine. Let's drop it. I had already decided to do so, but you seem bent on misquoting me.