Globalstar Inc (GSAT)

[shajandr]

This proposed transaction is a blatant attempt by Monroe to salvage as much of his personal investment loss in GSAT at the expense of other GSAT shareholder-victims.

If one reads and understands the PR of the proposed transaction and does the math, it's evident that absolutely crushing dilution of existing GSAT shareholde-victims will occur if the transaction proceeds to closing.

If the transaction goes through, GSAT PPS will be well under a nickel - and closer to a penny per share on the current basis. Who benefits? Jay Monroe will.

The proposed transaction is such a ballsy move by Monroe to use self-dealing to recover his loss exposure at the expense of GSAT shareholder-victims, that IMO it is nott only illegal, butt possibly criminal as well.

The only possible reason that I can envision for GSAT still trading above the 0.05-0.01 range now is that peeps must be counting on the proposed transaction being cancelled due to the legal actions. That's a lott of faith to place in our civil litigation system, even though IMO hat would be the appropriate ~OUTTcome.

Note that Monroe has NOTT published even a fairness opinion, which he can buy easily as long as he can find someone willing to write one (which is incredibly easy to find!). This suggests that such fairness opinion, even if written, would be or is so unCONvincing that Monroe won't even reveal it to existing investors.

What a guy!

And then there's always that third try at TLPS ... LOL!

The name's Jay Monroe, the game is enriching himself by swindling GSAT shareholders