Tomahawk, WI 11/05/2013 (BasicsMedia) – Globalstar Inc. (OTCMKTS:GSAT)  which is a world leader in offering mobile  and data communication services through its 36 satellites in orbit is performing exceedingly well in the markets. Its stock have continued to enjoya  good reception in the market growing by over 29%  in the past 30 days, this is a clear indication of what is to be expected from this company in the coming years. Offering services under the brand-named Globalstar systems, Globalstar currently enjoys a market capitalization worth $937 million. October 18 was a defining moment for Globalstar as its cash balance was slightly boosted.

 This was as a result of its chief executive officer and Chairman James Monroe going forth and purchasing a good amount of the company’s stock s. Mr. Monroe undertook the purchase of Globalstar shares through his limited liability company Thermo Fund LLC where he is the sole stakeholder. The company had been struggling in an effort of trying to find investors who would purchase an additional $20 million stock. In August Monroe decided to add to his earlier investment of $6.5 million by adding an additional $13.5million. This essentially means Mr. Monroe’s owns a total of $38.4 million shares in Globalstar.

 Thermo funding Company LLC has also decided to purchase an additional stock worth $115million between now and the close of business on December 26. This is on condition that Globalstar comes forth with the plan of selling the stock. Globalstar has set the purchase price for this stock at 85% of the 10 day average when the decision on the sale is to be made. This deal came into pass after lengthy negotiations between both parties. Globalstar looks set to perform even better in the coming quarters especially after the US regulators agreed on reviewing whether the company will be allowed to offer mobile services over the satellite airwaves. If this is to come to fulfillment then Globalstar will have big spectrum to operate on as compared to the one it is operating in at the moment.

The company stock rose after the announcement was made clearly indicating what could happen if it is given a go ahead to use the airwaves.  The final decision which will be made in the coming weeks will depend on votes under Tom Wheeler who is the FCC chairman. The company stock is vigorously ascending the charts as investor interests in the company continue to increase. The company has recently been recording huge volumes of traded stocks that are generating a good amount in terms of trade value. In Friday trading session Globalstar was able to trade volumes totaling 1 million a figure that remained unchanged for the first time in over two months. The Move by FCC to allow it to use the satellite airwaves will be received with excitement as the company will have the capacity to operate in Terrestrial broadband networks. The Approval might be forthcoming as it is in line with the government strategy of expanding the capacity of broadband networks to meet the ever increasing demand.

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