Yes, WW, Globalstar has a grand expansion plan, but still has to find a way to pay for it. So far their expansion has been funded by additional debt. They have an extreme debt load, very little cash, and a grand expansion plan that can only be funded by borrowing more. And even during their profitability days, it wasn't that much profit relative to their debt load.
Signing a contract to build or launch the new birds is one thing, but paying for it is another.
They may very well accomplish their goals, and I hope they do. I just had a change of heart about keeping a rather large investment tied up in their stock. It dropped about 30% after I got in, and I was able to move out of my position over the last week at break-even. I've made money on their stock in the past, but there are better opportunities for my investment dollars.
I didn't buy any more WSGI, as I'm already heavily invested here. Found a promising biotech that offers even more potential upside than WSGI. I know that's hard to believe.
Still long and positive about our company. I just hope our long wait is near an end. This particular carrot has been dangling in front of me for years now, so long that I can start to see mold growing on the carrot.
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