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Thursday, 08/21/2014 2:12:10 PM

Thursday, August 21, 2014 2:12:10 PM

Post# of 12100
Not sure what is going on with Qualcomm, here is an older post of their holdings from Q4 in 2012.Both of these filings have the exact same total,4,154,400. So one of two things,imo, maybe they sold all and repurchased the very same number of shares. Or perhaps they are not keeping very good records at Qualcomm. Just the other day Berkshire Hathaway paid over $800K in fines for not filing properly, fwiw.


2012 Q4 holdings reported at 4,154,400
http://www.sec.gov/Archives/edgar/data/804328/000119312513060437/d484510d13fhr.txt

Q2 2014 holdings reported at 4,154,400
https://www.sec.gov/Archives/edgar/data/804328/000095012314008687/xslForm13F_X01/form13fInfoTable.xml
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Also mentioned in the latest Globalstar 10Q:pg 18

"As of June 30, 2014, the Company had an agreement with Ericsson, which will work with the Company to develop, implement and maintain a ground interface, or core network system that will be installed at a number of the Company’s satellite gateway ground stations. In July 2014, the Company and Ericsson entered into a new agreement for the Company’s core network system specifying the remaining contract value of $25.4 million for the work and a new milestone schedule to reflect the new program timeline."

"The Company issued separate purchase orders for additional phone equipment and accessories under the terms of an executed commercial agreement with Qualcomm since 2004. This contract was canceled in March 2013 and since that time the parties were seeking to resolve the issues related to the contract termination. The Company and Qualcomm signed an agreement in July 2014 specifying the terms for the sale of the remaining inventory to the Company. The Company previously recorded total advances to Qualcomm for inventory of $9.2 million on its condensed consolidated balance sheet. The Company agreed to pay to Qualcomm $0.1 million to take ownership of finished goods and raw materials, which includes the $9.2 million advance held by Qualcomm as well as certain limited support services to be provided to the Company. This final payment made in July 2014 eliminated Globalstar's obligations to purchase additional equipment from Qualcomm. As a result of certain terms in the July 2014 agreement, the Company recorded a reduction in the value of inventory of $7.3 million related to raw materials that are not likely to be used in future production of inventory. The remaining balance of $2.3 million for inventory advances on the Company's condensed consolidated balance sheet includes approximately $2.0 million related to the Qualcomm contract, representing primarily finished goods."

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