GLOBALSTAR REGAINS COMPLIANCE WITH NASDAQ LISTING RULE
MILPITAS, CA. , January 22 2010 -
Globalstar, Inc. (NASDAQ:GSAT), a leading provider of mobile satellite voice and data services to businesses, governments and individuals, today announced it has received written notification from the Nasdaq Stock Market informing the Company that it has regained compliance with Nasdaq Listing Rule 5450(a)(1) as a result of the Company’s Common Stock trading above $1.00 for a period of 10 consecutive days.
In September 2009, the Company announced that it had received a notice from Nasdaq that it had 180 days or until March 29, 2010 to regain compliance or to meet certain standards for an additional 180 day compliance period.
About Globalstar, Inc.
With over 375,000 subscribers, Globalstar is the world’s largest provider of mobile satellite voice and data services. Globalstar offers these services to 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. Global 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.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com
For media information, please contact:
|
