Globalstar Inc (GSAT)

[finesand]

.. and the 2018-07-03 Redacted Transcript

https://cdn.discordapp.com/attachments/439949447594639360/466807104142049280/070318_Trial_2018-0351-TMR_REDACTED_mini_and_index.pdf

Week of - or Monday 23rd July, conclusion of deal for Mudrick to just get a look at the materials.
Preliminary S-4 on 7/23 !!! To be reviewed until >= 7/28.

The direct and cross-examination reads very interesting.

Nothing has changed so far, value has been defined within range 55c - 82.5c - the Thermo assets purchase price for GSAT so to speak.
Allegations are that FibreLight is overvalued by roughly 30-40% and GSAT undervalued - hence Mudrick's complaints.
Even going so far to claim that Monroe dived the GSAT SP intentionally to receive more shares for a lower conversion price.

Of course, the cross examination tries to ridicule Mudrick.

Not believing in a $5 - $10 value of GSAT, but depending on the outcome of their recovery, $1.50 - $2.50 might have been realistic.

Now traded even 10c or more below the conversion floor of 55c might be a nice opportunity to play this evaluation and ownership struggle - even if they don't change the deal.

In case Mudrick & Co push the SP higher to the top ceiling 82.5c to give Monroe a higher conversion price and less shares - or - if a judge or settlement will cause Monroe to 'sweeten' the deal at a voluntary higher price would be the special gain speculation with quite some return.

At current stock price of 45c and current deal, this opens up to
55/45 = 22% min gains
82/45 = 82% max gains

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