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

To: Rocket Scientist who wrote (5030)	6/4/1999 1:03:00 AM
From: Valueman	Read Replies (2) \| Respond to of 29987

Well folks, it looks like the ICO rights offering failed. They came up short of the $500 million needed to go forward. That is quite a pickle for them, and for Hughes, and G* for that matter. What will Wall Street think? On one hand, another competitor bites the dust and G* is almost ready to deliver its superior service. On the other hand, they will question G*'s ability to raise the $600 million they need. They might bring the stock down. Schwartz has repeatedly told us that raising money will not be a problem. I hope he's right.