GLOBALSTAR ANNOUNCES SECOND QUARTER 2018 RESULTS

https://www.sec.gov/Archives/edgar/data/1366868/000136686818000052/0001366868-18-000052-index.htm

Mudrick Capital Management Announces Termination of Globalstar's Merger with Thermo Acquisitions; Selendy & Gay PLLC Serves as Lead Counsel to Mudrick

NEW YORK, Aug. 2, 2018 /PRNewswire/ -- Mudrick Capital Management, L.P., the largest independent shareholder in Globalstar, Inc. (NYSE American: GSAT), announced yesterday that Globalstar has just terminated its unfair merger agreement to acquire FiberLight and several other assets owned by the Thermo Companies, which are controlled by Globalstar's Chief Executive Officer and controlling shareholder, Jay Monroe. As Mudrick Capital, counseled by Selendy & Gay PLLC, explained in a complaint it filed on May 17, 2018 in Delaware's Court of Chancery, this merger would have resulted in Globalstar and its minority shareholders materially overpaying for assets already controlled by Mr. Monroe, while at the same time significantly diluting its minority shareholders' interests in Globalstar. Moreover, the merger would have been funded by Globalstar stock that Mr. Monroe himself has conceded is vastly undervalued, thereby transferring a massive amount of wealth from Globalstar's public shareholders to Mr. Monroe. Mudrick Capital's complaint sought corporate books and records, including e-mails, pursuant to Section 220 of Delaware's General Corporation Law, in order to permit Mudrick Capital to meaningfully investigate the serious wrongdoing it has suspected at Globalstar.

On July 3, 2018, this matter was tried in the Delaware Court of Chancery, with Jason Mudrick, the President and Chief Investment Officer of Mudrick Capital, testifying as the sole witness. Following this trial, the Court of Chancery on July 31, 2018 issued an order granting Mudrick Capital's demand. In its opinion, the Court of Chancery found that Mr. Mudrick has testified credibly to the wrongdoing he suspected at Globalstar, and ordered Globalstar to produce nearly all corporate books and records sought, including e-mails from each of Globalstar's C.E.O. Jay Monroe, its General Counsel, and the chair of the Special Committee that had approved the unfair merger. One day after this ruling, Globalstar terminated its merger agreement with the Thermo Companies.

Jason Mudrick, the President and Chief Investment Officer of Mudrick Capital, has released a statement praising the Court's ruling: "We are gratified by the Court's decision ordering Globalstar to produce the corporate books and records we sought, including e-mails. These documents are crucial to our ability to investigate the wrongdoing we have suspected at Globalstar, and to take meaningful steps to protect minority shareholders from such actions in the future. We believe that Globalstar's decision to terminate its planned merger with the Thermo Companies represents a victory for all of Globalstar's independent shareholders. We remain committed to protecting the rights of Globalstar's minority shareholders and intend to continue investigating the wrongdoing we suspect at Globalstar."

Jordan Goldstein, a partner at Selendy & Gay PLLC, which serves as lead counsel in this matter, has also released a statement praising Mudrick Capital's decision to initiate this proceeding. "Mudrick Capital's efforts in seeking books and records to meaningfully investigate suspected wrongdoing at Globalstar has now been validated by the Court of Chancery. The Court's decision to require the production of e-mails and other documents demonstrates the strength of our allegations as to the unfairness of the proposed merger. Globalstar's resulting decision to terminate the merger just one day after the Court's ruling confirms that Mudrick Capital's efforts in this proceeding have been instrumental in protecting Globalstar's independent shareholders from this unfair merger."

SOURCE Selendy & Gay PLLC

https://www.prnewswire.com/news-releases/mudrick-capital-management-announces-termination-of-globalstars-merger-with-thermo-acquisitions-selendy--gay-pllc-serves-as-lead-counsel-to-mudrick-300691342.html

Bloomberg: Mudrick `Evaluating All Options' After Globalstar Deal Canceled, Mudrick calls decision to terminate deal "positive first step"



https://pbs.twimg.com/media/DjhdWURV4AUgnyj.jpg:large

Mudrick `Evaluating All Options' After Globalstar Deal Canceled, Mudrick calls decision to terminate deal "positive first step" pic.twitter.com/LjS9u4X3wq

— David D. Tawil (@DavidDTawil) August 1, 2018

SEC 8-K filing: Thermo Acquisitions merger called off

https://www.sec.gov/Archives/edgar/data/1366868/000136686818000048/0001366868-18-000048-index.htm

Mudrick's law firm hires and lawyer bio snippets for the next stage of The Globalstar Shareholders "Fight":

Quinn Emanuel Urquhart & Sullivan, LLP: Quinn Emanuel Trial Lawyers
https://www.quinnemanuel.com/
Quinn Emanuel is the largest law firm in the world devoted solely to business litigation and arbitration...

https://www.quinnemanuel.com/attorneys/carlinsky-michael-b
Michael B. Carlinsky, the Chair of Complex Litigation and Co-Chair of Insurance Litigation at Quinn Emanuel and a founder and managing partner of the firm’s New York office, has consistently been ranked among the top litigators by multiple leading global publications. Chambers USA (2015) called Mr. Carlinsky “the Maserati of lawyers,” and Chambers USA (2014) described Mr. Carlinsky as “‘a master strategist’ who is praised for his ‘unique ability to see the big picture and craft and work toward results on a broad scale involving a huge constellation of matters…


Bernstein Litowitz Berger & Grossmann LLP | Bernstein Litowitz
https://www.blbglaw.com/
BLB&G is a leading law firm advising institutional investors on issues of corporate governance, shareholder rights, and securities litigation...

https://www.blbglaw.com/our_people/lebovitch_mark
Mr. Lebovitch heads the firm's corporate governance litigation practice, focusing on derivative suits and transactional litigation. Working with his institutional investor clients, he has helped develop critical new law in the fight to hold management accountable by aggressively pursuing meaningful and novel challenges to alleged corporate governance related misconduct and anti-shareholder practices…


Richards Layton & Finger
http://rlf.com
Delaware's largest law firm
We work with top firms and companies, within the U.S. and throughout the world, who trust us with their Delaware legal issues. We focus on the business results they need, both in and out of the courtroom, and deliver answers that are both innovative and practical...

http://www.rlf.com/Lawyers/GregoryVVarallo
Gregory Varallo is the president of the firm. He focuses his practice on complex corporate and business litigation, arbitration, corporate governance, and corporate transactions. Greg has litigated numerous complex business disputes in the Delaware courts and has appeared on behalf of the firm's clients in state and federal courts throughout the United States…

Bloomberg: Mudrick Hires Quinn Emanuel, Two Other Firms in Globalstar Fight



https://pbs.twimg.com/media/DjdF3LVWsAEASRq.jpg

$GSAT Mudrick Hires Quinn Emanuel, Two Other Firms in Globalstar Fight pic.twitter.com/h8KyLdX4LZ

— David D. Tawil (@DavidDTawil) July 31, 2018

Bloomberg: Globalstar Merger Likely to Be Restructured, Terminated: Cowen


https://pbs.twimg.com/media/DjcC0aJXoAEXWjG.jpg:large

$GSAT Globalstar Merger Likely to Be Restructured, Terminated: Cowen pic.twitter.com/sPlQcY4Wbz

— David D. Tawil (@DavidDTawil) July 31, 2018

Court order granting Mudrick access to GSAT books/ records, EMAILS, FiberLight valuation docs:

https://www.dropbox.com/s/6kpkhbrlqmij9zw/7-30-18%202018-0351-tmr%20mudrick%20capital%20v.%20globalstar%20-%20memorandum%20opinion.pdf?dl=0

https://courts.delaware.gov/Opinions/Download.aspx?id=276500

Bloomberg: Mudrick Wins Right to Inspect Globalstar Records in Merger Fight
By Josh Saul
Bloomberg


https://pbs.twimg.com/media/DjYMuIKXgAo8PEo.jpg

$GSAT Mudrick Wins Right to Inspect Globalstar Records in Merger Fight pic.twitter.com/4THIX3QNBk

— David D. Tawil (@DavidDTawil) July 30, 2018

Bloomberg: Secret Recording, Fallen Stock Stoke Hedge Fund's Deal Fight
By Josh Saul
July 30, 2018
* Mudrick sees Globalstar rollup as ‘self-dealing’ by CEO
* A question about improper accounting clears the courtroom

https://www.bloomberg.com/news/articles/2018-07-30/secret-recording-stricken-stock-stoke-hedge-fund-s-deal-dispute

... and is Most Elucidating and reads like a riveting late night pager turner novel ya just can't put down as The Facts, lying, skullduggery, hoodwinking, lying, deceit, lying, self-dealing, "secret recordings" and other twists, turns and other "business machinations" come out/see the light of day!

the Mudrick vs. Globalstar Complaint, a "public record" obtained from Delaware's Court of Chancery

a MUST READ 26 page PDF

https://dropbox.com/s/sgstaioikrzgnqm/2018-5-17%20Complaint%20-%20Mudrick%20v.%20Globalstar.pdf?dl=0

with sincere gratitude & a hat tip to yahoo board poster "Karl" [aka "Anonymous"] who also posted:

Two-way SPOT X pic (with keyboard & display) sneak peek on slide #5 in the "Filing of certain prospectuses and communications in connection with business combination transactions" SEC 8-K/425 doc's at

https://www.sec.gov/Archives/edgar/data/1366868/000136686818000019/0001366868-18-000019-index.htm

seeing Sat-Fi-2 Satellite Hot Spot available on Amazon is awesome:

https://amzn.to/2vB4JRO

Globalstar Announces the Release of Sat-Fi2, the World’s Most Advanced Satellite Hotspot

https://www.globalstar.com/corporate/press/releases?pr=1004

what issues and/or questions would you like management to address during the Q1 CC?

Globalstar's Licensed 2.4 GHz (S-band) Technical Review presentation

http://www.globalstar.com/en/ir/docs/Globalstar2-4_GHz_Final.pdf

AND there are other read/perusal worthy informatives on/of Globalstar's Spectrum's at:

http://globalstar.com/Spectrum

Jason Mudrick's LETTER to The Board is AWESOME and a MUST READ!

https://www.sec.gov/Archives/edgar/data/1366868/000092189518001270/0000921895-18-001270-index.htm

Globalstar's Portfolio Has Potential, But Monetization Is Key, Morgan Stanley Says

https://www.benzinga.com/analyst-ratings/analyst-color/18/04/11502081/globalstars-portfolio-has-potential-but-monetization-is

MSUA Member Interview | Dave Kagan, President and COO of Globalstar

https://www.msua.org/single-post/2018/04/05/MSUA-Member-Interview-Dave-Kagan-President-and-COO-of-Globalstar

Globalstar’s Ewert on the Strategy Behind New Automotive Division

https://www.satellitetoday.com/mobility/2018/04/03/globalstars-ewert-on-the-strategy-behind-new-automotive-division/

N.B. "To SpaceX, FCC says: You must launch, on average, 41 of your broadband sats per month, for 9 yrs -- starting now..."

To @SpaceX, @fcc says: You must launch, on average, 41 of your broadband sats per month, for 9 yrs -- starting now. #OneWeb, @ViasatInc @Hughes_Corp @SES_Satellites @TelesatCanada @SoftBank. https://t.co/tqEq39y525

— Peter B. de Selding (@pbdes) March 30, 2018

Interviews with & of James Monroe III, 2017 Satellite Hall of Fame Inductee

2 VERY INFORMATIVE INTERVIEWS yours truly didn't know/hear about until today at:

http://www.sspi.org/cpages/hof-monroe

Published on Jan 23, 2018
Chairman and CEO, Globalstar.

James "Jay" Monroe transformed a bankrupt satellite service provider into an international brand-name company that provides life-saving technology to thousands of people. One such technology is SPOT, now on its 5th iteration, which gives users the ability to share their location data and short messages, to track vehicles and other mobile assets, and to hit an SOS button to call for help. To date, it has documented over 5,000 rescues on land and sea.

Chairman and CEO, Globalstar

Jay Monroe has built companies worth billions of dollars by relying on a sharp eye for changes in technology, changes in regulation and new business or consumer trends. In the process, he has transformed a bankrupt satellite service provider into an international brand-name company that has saved literally thousands of lives and brought hope to thousands more.

Mr. Monroe was selling equipment for Stewart & Stevenson, a supplier to the oil and gas industry, when he founded the Thermo Companies in 1984 with US$40,000 he and his wife made from selling their home. He saw an opening to develop cogeneration plants under a new energy deregulation law, but his employer did not want to own power plants; it wanted to sell equipment to them. It helped Monroe win US$60 million in financing to build a 76-megawatt plant in Colorado. It was the first of four plants and the Thermo Companies went on to found or acquire companies in natural resource development, industrial equipment distribution, real estate, telecommunications and financial services.

In 2004, Mr. Monroe seized the opportunity to buy a satellite phone company called Globalstar out of bankruptcy, believing it could be turned around by simplifying and reducing prices to attract more customers. After Globalstar restructured the billing model for monthly subscriptions, sales rose 124 percent to $137 million within three years. Mr. Monroe both invested and raised more than a billion dollars allowing Globalstar to successfully launch the company’s second-generation satellites, offering the fastest mobile data speeds in the industry.

During that time, Mr. Monroe saw a need in the market for an affordable handheld satellite tracking and messaging device, leading to the development of the first generation SPOT Messenger. SPOT, now on its 5th iteration, gives users the ability to share their location data and short messages, to track vehicles and other mobile assets, and to hit an SOS button to call for help. To date, it has documented nearly 5,000 rescues on land and sea. A satellite Wi-Fi hub called Sat-Fi followed, which has become vital to field operations for businesses, the newest version of which also includes an SOS button embellishing the company’s core life-saving message. The company’s satellite phone technology is a staple of disaster relief operations as well as being incorporated into communication and tracking systems for aircraft and vessels around the world. With an entrepreneur’s sharp eye for value, Mr. Monroe and SPOT have helped save lives and make the world a safer, more prosperous place. [http://findmespot.com/en/]

guy kayaks across atlantic three times WITH GSAT Spot

https://www.nytimes.com/interactive/2018/03/22/magazine/voyages-kayaking-across-ocean-at-70.html

insights/thoughts on these ridiculous NAKED GSAT short volumes anyone?
https://nakedshortreport.com/company/GSAT

Globalstar Launches Automotive Team to Bring Enhanced Global Connectivity to the Next Generation of Connected and Autonomous Vehicles

Company to Leverage Existing Global Network for Safety Services, Delivery of Over-the-Air Updates and Enhanced Navigation and Mapping to Capture Part of the Multi-Billion Global Connectivity Business

Covington, LA, March 12, 2018- Globalstar, Inc. (NYSE American: GSAT), a leading provider of global mobile satellite communications services, today announced that the Company has launched Globalstar Automotive [ https://globalstar.com/automotive ], a newly formed division to support future connected and autonomous vehicles and intelligent transport. With more than 600 million connected vehicles expected to be on the road by 2025 and with the market for automotive connectivity projected to increase to $103 billion by 2030, Globalstar seeks to leverage its two-way global and broadcast capable network to assist automakers to comply with the latest safety regulations, deliver over-the-air (OTA) software updates, increase location accuracy and improve reliability for autonomous vehicle operation.

Greg Ewert has joined the Company and brings 30 years of senior executive leadership experience across a wide range of technologies in the telecommunications field. Reporting to Dave Kagan, President and COO at Globalstar, Ewert will lead the Company's automotive initiatives. Additionally, Ewert serves on the Connected Vehicle Trade Association (CVTA) board.

"There is one non-negotiable, critical requirement for all connected or autonomous vehicles - connectivity," said Ewert. "We are taking Globalstar's networks and providing connectivity solutions for the automotive community that not only complement existing terrestrial options but when combined offers a more reliable, cost-efficient communications pipe to vehicles independent of where they might be in the world."

To date, embedded connectivity within connected cars has primarily been used for in-vehicle infotainment, Wi-Fi and safety services. Some progressive automakers have begun delivering OTA software updates using cellular and Wi-Fi and are now looking to satellite to help address the growing demand to cost efficiently deliver updates. As the connected car market matures and autonomous vehicles proliferate, the requirement for connectivity that is always available, invulnerable to the elements and capable of establishing a two-way channel with the vehicle for delivery of software and firmware critical to the vehicle's operations is of paramount importance.

"The connected car will fundamentally transform the automobile and transportation industries. Thermo has taken advantage of similar paradigm shifts in industries in the past and plans for investments in Globalstar, FiberLight, Pivotal Commware and TrafficCast to all play their respective roles in the car of the future," said Jay Monroe, CEO of Globalstar and founder of the Thermo Companies.

"There is a tremendous opportunity for us to leverage our existing network assets and partner ecosystem to fill connectivity gaps and allow automotive manufacturers, suppliers and partners to extract maximum value from their investments in connected and autonomous vehicles," Ewert continued. Ewert will be a featured speaker at Connected Car Detroit, hosted by Automotive Megatrends, on March 13 and Satellite 2018 in Washington D.C. on March 15, addressing the connected car opportunity and need for interoperable enhanced networks.

About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services. Customers around the world in industries such as government, emergency management, marine, logging, oil & gas and outdoor recreation rely on Globalstar to conduct business smarter and faster, maintain peace of mind and access emergency personnel. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring, SCADA and IoT applications. The company's products include mobile and fixed satellite telephones, the innovative Sat-Fi satellite hotspot, Simplex and Duplex satellite data modems, tracking devices and flexible service packages.
XXX
Media Contacts:
Samantha de Castro
Globalstar
samantha.decastro@globalstar.com

Greg Kalish
GK Communications for Globalstar
greg.kalish@globalstar.com

https://www.globalstar.com/en/index.php?cid=7010&pressId=995

Globalstar Appoints Symmetry Electronics As A New Distributor

Covington, LA, March 6, 2018- Globalstar, Inc. (NYSE American: GSAT) announced today that the company has signed a distribution agreement with California-based Symmetry Electronics allowing the company to offer a range of Globalstar's satellite and multi-radio modems which support global connectivity...

https://www.globalstar.com/en/index.php?cid=7010&pressId=994

Spain’s Remote Workers First to Benefit From New Globalstar and Securitas Spain Partnership for Integrated Satellite-Enabled Safety and Security Solutions

Dublin, Ireland, March 02 2018- Securitas Spain, a company owned by worldwide security specialists Securitas Group, and Globalstar Europe Satellite Services Ltd, a wholly owned subsidiary of Globalstar Inc. (NYSE American: GSAT), today announced a new collaboration to strengthen security solutions for remote and at-risk workers in Spain...

https://eu.globalstar.com/en/index.php?cid=7010&pressId=820008

yours truly loathes to make these kinda PFA'd [Pulled From A--] overstuffed arm-chair calls and/or postulations...

HOWEVER, if we examine the co's past "slipped to under $1 per share" history:

a reverse split was summarily approved by the board in 2012, viz.: https://www.sec.gov/Archives/edgar/data/1366868/000114420412049876/v323165_def14c.htm

BUT, AT THE END OF THE DAY -- on Dec 20th 2012 -- the co's management instead choose to stay the course/weather the storm and be de-listed to the OTC rather than pull the RS trigger, viz.: https://www.globalstar.com/en/index.php?cid=7010&pressId=757

ALSO AT Connected Car Detroit: Greg Ewert, President, Connected Car & Intelligent Transport Systems, Globalstar has been confirmed as a speaker at Connected Car Detroit in the connectivity session.

Organised by Automotive Megatrends, Connected Car Detroit is a one-day multi-track conference and tech showcase focusing on connectivity, mobility services and connected car technology. A packed conference agenda will see more than 25 speakers sharing insight with 300+ delegates through a mix of presentations, an industry keynote and a high-level panel discussion. Offering fantastic networking opportunities, Connected Car Detroit brings together key automotive industry stakeholders to discuss the technologies and trends central to the evolution of the connected car.

Connected Car Detroit takes place on 13 March 2018 at the Henry Hotel, Dearborn, Michigan.

https://www.automotiveworld.com/news-releases/greg-ewert-president-connected-car-intelligent-transport-systems-globalstar-confirmed-connected-car-detroit/

HEADS UP: Greg Ewert, President, Connected Car & Intelligent Transport Systems, Globalstar is a Speaker at the "IoT on the Road: Connected Consumer Vehicles, OTT, and the Self-Driving Car" session at the DC Satellite 2018 Conference Thu. March 15| 10:00 AM - 11:00 AM | 202

As most telecommunications services, satellite support the vertical industry sectors where they are used. Just as an example, take shipping and maritime goods transport as a vertical and you will fully appreciate the importance of satellite communications for such an industry, providing voice communications, connection to shore-based application servers, crew entertainment and links with families, safety and emergency communications, etc. One emerging vertical where satellite communications could provide added value is connected cars. There, some specific applications like map and software updating appear to be very promising areas of contribution for the industry. This session will be dedicated to discussing the contribution tat satellite communications can provide to such verticals and which are the most promising applications that satellite communications can target.
Track: Mobile Connectivity Forum

https://satellite18.mapyourshow.com/7_0/sessions/session-details.cfm?ScheduleID=32

Maglan Capital "Updated SOTP model. Adjusted intl to 800mm. @ $0.91/share stock implies only $0.50 per pop for US & 0 for everything else.”

$GSAT Updated SOTP model. Adjusted intl to 800mm. @ $0.91 /sh stock implies only $0.50 per pop for US & 0 for everything else. pic.twitter.com/cTjhDsUu58

— David D. Tawil (@DavidDTawil) February 23, 2018

Title: Satellite Earth Stations and Systems (SES); Mobile Earth Stations (MES), including handheld earth stations, for Satellite Personal Communications Networks (S-PCN) operating in the 1,6 GHz/2,4 GHz frequency band under the Mobile Satellite Service (MSS); Harmonised Standard for access to radio spectrum Satellite Personal Communications Networks (S-PCN) in the 1,6/2,4 GHz

Scope and Field of Application: The revision will consider comments received from MSS system operators and terminal manufacturers that use the standard. These include editorial errors found and reconsideration of the receiver blocking level requirements.

Supporting Organizations: THALES, HUGHES Network Systems Ltd, Inmarsat, GLOBALSTAR Inc.

https://portal.etsi.org/webapp/WorkProgram/Report_WorkItem.asp?wki_id=52923

The 3gpp work schedule has been updated once again. much better than previous schedule, viz.:

https://portal.etsi.org/webapp/WorkProgram/Report_Schedule.asp?wki_id=52923

oltimer, yours truly sincerely believes that patience and time are The Most Critical Elements of/to success as an investor, and, therefore, as such, yours truly does not make these kinda "speculative overstuffed arm-chair calls" on a Q by Q basis.

yours truly would think, that, perhaps, the two recent position augmentations, er, increases -- of this month and last -- would provide A Good Enough indication of presently prevailing winds/weather patterns, er, "predictions"... :D

Globalstar Q4 2017 Earnings Call Thursday February 22 at 5pm ET

https://www.globalstar.com/en/index.php?cid=7010&pressId=992

Detailed institutional ownership and holders of Globalstar including new, increased, descreased, and sold out positions.

13F filing are mostly in now

Q4 institutional buying was huge and far outweighs the selling

increased share count............139,967,672
decreased share count..............7,060,855

https://www.nasdaq.com/symbol/gsat/institutional-holdings

What is the 'SEC Form 13F'??
https://www.investopedia.com/terms/f/form-13f.asp

What Is a 13F and How Can You Benefit From It?
https://www.investopedia.com/news/what-13f-and-when-it-useful/

Jason Mudrick's 2/14/18 13G SEC filing:

https://www.sec.gov/Archives/edgar/data/1366868/000095010318002035/0000950103-18-002035-index.htm

N.B. the change in the # shares held since his 2/07/17 13G SEC filing:

https://www.sec.gov/Archives/edgar/data/1366868/000095010317000899/0000950103-17-000899-index.htm

here's Jason Mudrick's +$6 GSAT valuation as excerpted from the Jan 6th 2017 TLPS CC at http://www.alacrastore.com/thomson-streetevents-transcripts/Globalstar-Inc-Conference-Call-to-Discuss-FCC-Report-and-Order-T7353787

Question: Jason Mudrick - Mudrick Capital Management - Analyst : Jay, I think there's a lot of misinformation in the marketplace about the value of the spectrum you control. I understand you were reluctant to discuss this topic during the approval process but now that's behind you, I just have a few questions for you on that topic. I think you did a great job of talking about the technical side of the value of your asset, particularly the importance of small cells in the continuing evolution of the networks, the benefits of TD versus FD, and also the uniqueness of your asset internationally. But if we take it one step further for us Wall Street guys, so that we can think about how to think about value, there's been some out there that have proclaimed that there should be a discount placed on your spectrum because of the power restrictions vis-a-vis where the AWS-3 auction traded. Do you agree with this?

Question: Jason Mudrick - Mudrick Capital Management - Analyst : That's helpful. So the average sale price in the AWS-3 auction was $2.19 per megahertz pop. If I apply that value to your domestic asset alone, I get to a value of $7.9 billion. Is that math right? companies. JANUARY 06, 2017 / 1:30PM, GSAT - Globalstar Inc Conference Call to Discuss FCC Report and Order

Question: Jason Mudrick - Mudrick Capital Management - Analyst : We assume your satellite business is worth another $500 million. I understand you think it's worth more, given how much capital is spent and its growth characteristics. But we're just taking a 10 time multiple on the 50 that you discussed earlier. Then you have international optionality, which is a much more difficult to debate but haircutting it, and being conservative, we think it's worth another $500 million. Then you have a $1.5 billion NOL, which depending on how you monetize these assets, we estimate to be worth between $200 million and $500 million. So we have a midpoint of $350 million. You also have 7.75 megahertz of L band spectrum. So let's leave that out of the equation now, although we think it's quite valuable. If you add all this up and you give no value of your L band spectrum, I get to a value of $9.25 billion. Net off, your $560 million of debt, it gets to an equity value of $8.7 billion, which is $6.60 per share. Does all that math sound right?

Question: Jason Mudrick - Mudrick Capital Management - Analyst : Great. Thank you. Just one more comment. I don't think you should be selling -- diluting shareholders down here. So I want you to know that we're prepared to lend the Company money to ensure that there's no balance sheet issues that impede your ability to execute your strategic objectives. I want to thank you guys again for hosting this conference call. I think it's very enlightening.

Why yours truly bought (yet) more GSAT today (2/14/18):

today's GSAT BUY was made strictly based on the "it's cheap, ignored AND HATED" GUT INSTINCT (that has served yours truly most well over many decades)

The "GUT Confirmation" of this came when yours truly saw the following posting on the y! GSAT board:

"Boy, the all time cheerleaders on the FB board have turned verrrrrry bearish - does that mean it is time to buy?"

The Answer IS/WAS a resounding YES!

it's been yours truly Real Life Experience THAT "these (spectral) things" Just Take Time -- both in business "in general" and more/most specifically in the spectrum authority approval arena -- it OFTEN AND USUALLY takes MUCH LONGER than ANYONE ANTICIPATED to come to fruition/bear fruit.

ERGO, given yours truly's past experiences of "Regulatory Wrangling & Process", viz: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125188246 In This Process it is ALL ABOUT: CONVICTION, FORTITUDE, PATIENCE AND STAMINA and so da name of da game/par of/for The Course "here".

AND FRANKLY, NO ONE is gonna make ANY offers or deals -- of any kind or flavor -- without the THE INTERNATIONAL REGULATORY APPROVES BEING IN HAND METAPHYSICAL CERTITUDE like, viz.:

FIRSTLY, NO SANE/RESPONSIBLE PERSON OR PARTY is gonna consummate ANY deal on a piece of real estate without the owner of said property having a confirmed/valid DEED FOR THAT PROPERTY IN HAND with...

SECONDLY with a surveyor & building/property inspectors report having metaphysical certitude of exactly of where the property line boundaries are and that it's structures are safe, sound and all up to code...

THIRDLY, if there were/are "minerals of value" on the land and therefor rights to said minerals were/are involved, any prudent property buyer or lessor would also demand -- with axiomatic factual proof metaphysical certitude -- that there IS gold or oil or whatever “precious metals or substances” are present AND ADDITIONALLY any sane prospective buyer/fiduciary would demand to have A Very Sound Idea of just HOW MUCH gold or oil or whatever “precious metals or substances” is "mine/extract-able" from within the property lines!

in GSAT's case these spectral/frequency "property lines" are ones of the nation states/national sovereignty -- i.e. an autonomous sovereign states/nations.

ERGO, the holder of the deed POSSESSES METAPHYSICAL CERTITUDE CONFIRMED MINERAL RIGHTS TO "MINE"/MAKE USE THEM!

IN GSAT's case, Da "Minerals" is DA SPECTRUM — which just happens to be world-wide AND harmonized!

the first National hurdle was cleared when our dearly beloved FCC on August 4, 2017 issued GSAT the US license mods/rights to TERRESTRIAL use their “here”

NOW, we all just need to continue to patiently sit and wait for the applied for international licenses (nee "deeds") to come through -- just like it took for that to happen in the US!

it's this realists view/thinking that anyone would be a DAMMED FOOL (circumventing their fiduciary duties/responsibilities) to consummate a buyout or any kind of deal or partnership of/with the company -- just as in the above case of the property example above and the metaphysical certitude of its land, minerals and rights thereof!

oh and one last thing, if there was NO CHANCE of the above happening/coming to fruition, yours truly doesn't think Jay Daddy Warbucks Monroe would be needlessly tossing/flushing 10's of millions more of his capital down the proverbial toilet/into the co… instead, Jay would have saved/kept and let the co go into BK... ERGO, that is Exactly The Case where the $$ has plainly talked AND THAT it says/speaks volumes to this LONG shareholder.

oh, and unlike most co's primary investors -- who get/hold/receive https://www.investopedia.com/terms/p/preferredstock.asp for their https://www.investopedia.com/terms/c/capital-injection.asp 's, Daddy Warbucks Jay Monroe -- for all the 100's and 100's and 100's ... of MILLIONS of $$$'s he's continually and relentlessly put in the co over the years, Jay stock holdings is/are precisely https://www.investopedia.com/terms/p/pari-passu.asp with us "lowly/retail" https://www.investopedia.com/terms/c/commonstock.asp "common investors/holders".

https://www.investopedia.com/ask/answers/difference-between-preferred-stock-and-common-stock/

Nokia’s Globalstar Spectrum Deployment Study
Executive Summary
October 2017

In August 2017, Globalstar received nal FCC authority to provide terrestrial service in its 2.4 GHz (2483.5-2495 MHz) holdings in the US. Throughout the summer of 2017, Nokia’s Network Planning and Optimization team studied the regulatory and physical characteristics of the spectrum in order to assess whether this spectrum would provide network benefits in terms of performance and cost for dedicated small cell service deployments. Nokia’s engineers analyzed the performance of Globalstar’s spectrum in both indoor and outdoor deployments via precision modeling with the iBwave Enterprise tool for the design study and report generation. Nokia also analyzed the extent to which using the same spectrum for macro and small cells over the same geography creates macro-to-small cell interference. The attached report provides a comparison of Globalstar’s 2.4 GHz to AWS 2.1 GHz using a “HetNet” deployment scheme, a baseline band in use today whereby it is common for the same spectrum to be deployed for both small cells and the macro layer across overlapping geographies.

Nokia utilized existing site survey data from indoor and outdoor urban and suburban areas and created a venue model in the design tool which utilized inputs from social media data collection and census data. The benchmark data was collected using the Viavi RanAdvisor data collection toolkit. The focus of the study was to determine the network benefits,if any, of deploying spectrum that is free from macro interference and can be used for outdoor and indoor small cells. Specifically, Nokia’s engineers analyzed 2.4 GHz vs. the 2.1 GHz HetNet performance from an (1) outdoor coverage, (2) indoor coverage, (3) capacity, (4) covered POPs and (5) total infrastructure (sites) needed to provide appropriate coverage. The study assumes 10 MHz FDD on 2.1 GHz and 10 MHz TDD on 2.4 GHz, both using 2x2 MIMO.

In Part 1 of the report, the city area of Chicago was analyzed to study the outdoor coverage and performance of AWS 2.1 GHz vs. 2.4 GHz. The study shows the use of an existing 2.1 GHz macro network with 40 sites and then layers in small cells to create a 384 cell 2.1 GHz HetNet. This is then compared to a network that includes these 40 macro sites combined with 254 2.4 GHz small cells and then 1,054 cells. When layering in 254 2.4 GHz cells, total network capacity as compared 2.1 GHz increased 17%, while 1,054 cells added over 300% capacity. Nokia analyzed how the 2.4 GHz network provides added incremental capacity with additional small cells while the HetNet runs into a capacity limitation due to co-channel interference. Furthermore, Nokia analyzed the outdoor coverage footprint of both networks and showed that a 2.4 GHz-only network (without a macro overlay) provides improved coverage over the studied area with sufficient signal-to-noise levels and RSRP (signal power). Thus, a network using 2.4 GHz spectrum only without a new or existing macro network can service an urban and semi-urban area su ciently and can continue to add network capacity as new small cells are added.

For Part 2, the performance and network requirements of 2.1 GHz HetNet indoor deployments was compared to dedicated 2.4 GHz small cells. In the indoor testing, the indoor signal quality (signal-to-noise and RSRP) was analyzed to determine the interfering effect of the 2.1 GHz macro layer on indoor service areas. Nokia concluded that while 2.1 GHz and 2.4 GHz small cells provide comparable indoor signal propagation, macro cell interference compromises the performance of 2.1 GHz indoor small cells and compromises outdoor performance near the building structure. Improved RSRP and signal-to-noise characteristics of the 2.4 GHz band allows for superior modulation schemes to be in use over a wider coverage area without interference limitations from the macro network while requiring significantly less infrastructure. For 2.1 GHz, additional indoor transmission sites are needed to compensate for the co-channel degradation of service from the macro signal. Finally, as an additional RF benefit, the 2.4 GHz spectrum provides no performance impact on the macro network.

In summary, Nokia has concluded that macro cell interference effects the performance of 2.1 GHz outdoor and indoor networks. The 2.4 GHz spectrum provides a solution to this RF problem with material performance improvements as either (i) a network designed to be additive to a macro network or (ii) a fully independent outdoor and indoor small cell network.

About Nokia
[...]

Document code: SR1802021656EN (February)

https://onestore.nokia.com/asset/201880/Nokia_Globalstar_Spectrum_Deployment_Study_Executive_Summary_EN.pdf