GLOBALSTAR : RESPONDS TO KERRISDALE CAPITAL'S FCC FILING
October 13, 2014 at 02:36 pm EDT
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GLOBALSTAR RESPONDS TO KERRISDALE CAPITAL'S FCC FILING
COVINGTON, LA , October 13 2014- Globalstar, Inc. (NYSE MKT: GSAT) issued the following statement in response to Kerrisdale Capital's ("Kerrisdale") recent filing with the Federal Communications Commission ("FCC"):
Kerrisdale's FCC filing is nothing more than another attempt by a short seller to drive the price of Globalstar's stock down for its own short term financial gain.
Terrestrial Low Power Service ("TLPS") represents a differentiated, premium and immediate solution to global Wi-Fi congestion, and we are confident in our ability to capitalize on this opportunity for our shareholders.
Kerrisdale's arguments demonstrate a lack of understanding of our company and our industry, and are now contradictory. Last week, Kerrisdale claimed that Wi-Fi congestion was a myth. This week, Kerrisdale has changed its position and undermined a core component of its own thesis by asserting that Wi-Fi congestion may actually exist and that easing the rules regarding the use of Channel 13 "could be an especially valuable resource for wireless local area network[s]." While Kerrisdale's story continues to change, Globalstar and the broader communications industry remain consistent. Industry regulators and major industry participants agree that Wi-Fi congestion is real and must be addressed.
We have made tremendous progress at the FCC regarding TLPS and look forward to the Commission adopting its proposed rules promptly. We do not believe there is anything in Kerrisdale's filing that will affect this timing.
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to government, commercial and recreational users in more than 120 countries around the world. The Company's products include mobile and fixed satellite telephones, Simplex and Duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Globalstar customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.
Globalstar, Inc. is an international telecom infrastructure provider. The Company provides mobile satellite services, including voice and data communications services, as well as wholesale capacity services through its global satellite network. It offers these services over its network of in-orbit satellites and ground stations (gateways) pursuant to its spectrum licenses (collectively, Globalstar System). Its communications services include two-way voice communication and data transmissions via its GSP-1600 and GSP-1700 phone; one-way or two-way communication and data transmissions using mobile devices, including its SPOT family of products; one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station; satellite network access and related services utilizing its satellite spectrum and network of satellites and gateways, and engineering and other communication services using the Globalstar System.
GLOBALSTAR, INC. 
