TerreStar Corporation (fka TSTRQ)

[pwrballl]

Their is also other options in which the company may negotiate with preff stock holders to convert to equity

If the "bondholders"(invested in TSN) DIDN'T go for it what makes you think the pref. shareholders(who are OWED ~$400-$500M from TSC) will?? They WANT! their money and the amount outstanding keeps GROWING! day-by-day.

The "assets"are STAGNANT.. the "agreement" for the "leased spectrum"(their ONLY! revenue) EXPIRED! in May 2011 and I don't think it will be renewed by all indications from this source....

"...A person close to Harbinger said the firm's equity exposure to TerreStar amounts to just $12 million. Mr. Falcone's resources are concentrated in LightSquared, and Harbinger is "not really involved anymore" with TerreStar, this person said."

http://online.wsj.com/article/SB10001424052702304898004575556460087350910.html?mod=rss_whats_news_us&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7011+%28WSJ.com%3A+What%27s+News+US%29

The spectrum in the May/'11 report was valued @ ~177M... under DISTRESS!(Bankruptcy) it's probably worth LESS.

It's a SINKING! ship because the "debt" continues to INCREASE! and the "assets" continue to DECREASE!

GLTA!!