GSAT

[Goooh]

Buy buy buy

[redaddiction]

Originally Posted by Goooh

Buy buy buy

If i had available cash that's exactly what I would be doing.

[redaddiction]

For those who don't know what approval I am talking about here is a brief description. GSAT owns wireless spectrum outright. Read below for definition.


Terrestrial Low Power Service (TLPS). This is the FCC's proposed rules to allow Globalstar to open up 22 MHz of underutilized spectrum in the 2.4 GHz band for low power mobile broadband which would add a 'Channel 14' to the existing channels 1, 6, and 11 already being used for Wi-Fi in that band. The proposal is that this would be a "managed Wi-Fi-Like" service: a premium version of traditional Wi-Fi, providing dedicated capacity over a clear channel, resulting in as much as 5-7 times the performance of more crowded channels. Faster Wi-Fi speeds and greater capacity are a huge part of meeting consumer demand--whether it's OTT content options such as Netflix, the Cable Wi-Fi initiative, or the use of Wi-Fi by mobile operators to expand coverage, capacity, and improve the economics of mobile broadband. TLPS represents an exciting opportunity to offer consumers another competitive mobile broadband option that sits somewhere in between the "wild west" of traditional unlicensed services and comparatively expensive, but licensed, cellular data services. Given that Channel 14 is already available in Wi-Fi chipsets at the hardware level, the time to deployment is vastly shorter in comparison to alternative bands being considered for the broadband inventory. TLPS also opens the possibility for unique and innovative services, delivered by both incumbent operators and new entrants.

[Gasper Master]

yep, i saw the price steadily dropping, so i pulled out. Once the FCC approves, i will buy back in.

[redaddiction]

Originally Posted by Gasper Master

yep, i saw the price steadily dropping, so i pulled out. Once the FCC approves, i will buy back in.

You will have to buy it back much higher than you sold if for today. That's the only problem with not buying and holding. Just have to ignore the daily fluctuations. But trust me it was tough to watch. At the low of the day I was down $6000 from yesterday.

[Gasper Master]

i know, but just not willing to take the risk. How can you find out what is going on? When will the FCC decide?

I had 8000 shares, so i would have been down $5500 if had not sold when i did.

[redaddiction]

Originally Posted by Gasper Master

i know, but just not willing to take the risk. How can you find out what is going on? When will the FCC decide?

I had 8000 shares, so i would have been down $5500 if had not sold when i did.

There is no definitive date as to when they will make a decision. It could be tomorrow or 3 months from now or even next year. The public comment period ended four months ago. They could of decided it then. The CEO in the last conference call said it should be some time in the 4th quarter which starts today.

[aquaholic]

This is one of the most shorted stocks out there. I sold first of week thinking this was coming. Unfortunately the market isn't truly fair. The big money guys can move a smaller stock if they wish to. Not a stock issue just somebody decided to run price down. I'll sit on the side and watch where this goes. Might be able to buy back in in the 1$ area.

[redaddiction]

Yep! and once this stock started falling it was probably taking out Stop-Losses left and right. I bet some people checked their stock mid day and it was all sold.

[fishinpox]

lost 6000.00+ already i will say ive lost more in the time ive owned this stock gambling @ L'auberge then i have on this stock.... lol so i guess it could be worse . im in it to win it ....30$ or bust !!!

[aquaholic]

I own another stock that I lost my a$$ on. Still own it hoping someone will buy it out. This far down I wouldn't sell. I also wouldn't pay attention to it so I wouldn't be depressed. I think will ultimately rebound but may be a couple months.

[fishinpox]

I knew it going into it , it is what it is ..... A risky investment

[southern151]

Kerrisdale Capital to Host Live Presentation and Webcast on Globalstar, Inc.Font size: A | A | A
9:30 AM ET 10/6/14 | PR Newswire
Kerrisdale Capital ("Kerrisdale"), a New York based private investment manager, announced today that it will host a live presentation on mobile satellite services provider, Globalstar, Inc. (NYSE: GSAT). Sahm Adrangi, Chief Investment Officer, will debunk Globalstar's highly misleading claims about its business and discuss why Kerrisdale believes that Globalstar's equity value is worthless, in contrast to the Company's current $4 billion dollar market capitalization.

The live presentation will begin at 11:30am ET at AXA Event & Production Center at 787 Seventh Avenue, New York. Please arrive 15 minutes in advance to sign in. Registration for the live webcast of the presentation can also be accessed at kerr.co/10614. The full research report and presentation materials are available at factsaboutglobalstar.com.

"Globalstar is the most egregious stock promotion we have come across since Sino-Forest," says Sahm Adrangi, Chief Investment Officer of Kerrisdale Capital. "Globalstar's proposed paid Wi-Fi offering is nothing more than the company's latest gimmick to stave off bankruptcy, a stunt that rivals Allen Chan's fake forests as the most successful stock-market fantasy we've ever come across."

Kerrisdale believes the company is currently valued at $4 billion due to misleading and ill-informed publicity over the company's spectrum holdings and a proposed licensable Wi-Fi channel currently under review by the Federal Communications Commission. This licensable Wi-Fi channel will never be commercially viable, and its spectrum is unusable terrestrially in all other use cases. The combined value of the company's unprofitable core satellite business and potential terrestrial applications of its spectrum assets is lower than its debt burden, making the stock a zero.

Terrestrial Low Power Service is Not Commercially Viable

Globalstar's proposed Terrestrial Low Power Service ("TLPS") will never be commercially viable, based on Kerrisdale's in-depth research and discussions with numerous industry experts. In a world that already has three free, unlicensed channels in the 2.4GHz band and an additional 22 in the 5GHz band, one more channel, hypothetically accessible to only a circumscribed set of users, will never be worth many billions of dollars.

Wi-Fi "Congestion" is Highly Manageable

The Wi-Fi "congestion" that Globalstar purports to address is typically misdiagnosed and is a problem that IT professionals routinely solve every day by using best practices and modern technology. Kerrisdale's comprehensive report shows that network administrators have more than enough channels at their disposal to address co-channel interference, which would deem Globalstar's Wi-Fi offering irrelevant.

Heavy Debt Burden and an Unprofitable Core Business

Globalstar's mobile satellite services business has more than $500 million of outstanding net debt, and over the twelve months ended June 30, 2014, generated just $15 million of adjusted EBITDA and negative $95 million of operating income. Since emerging from bankruptcy in 2004, it has racked up cumulative operating losses of $460 million, increased its share count by a factor of 13, been de-listed from NASDAQ in 2012, defaulted on its debt in 2013, and is likely to violate its financial covenants again in the near future.

Kerrisdale's research report and presentation also discuss the public's increased usage of 5GHz Wi-Fi spectrum as compared to Globalstar's 2.4GHz Wi-Fi spectrum, consumers' relatively low appetite to pay for Wi-Fi and a discussion of how Globalstar's spectrum should be valued in a non-Wi-Fi use case.

Kerrisdale Capital holds short positions in Globalstar, Inc.

About Kerrisdale Capital

Kerrisdale Capital Management, LLC is a fundamentally-oriented investment manager that focuses on long-term value investments and event-driven special situations. Kerrisdale has $300 million in assets under management and is based out of New York City.

Contact

Agnes CaoKerrisdale Capital, LLCacao@kerrisdalecap.com 212-257-4385

SOURCE Kerrisdale Capital Management, LLC

[aquaholic]

Originally Posted by southern151

Kerrisdale Capital to Host Live Presentation and Webcast on Globalstar, Inc.Font size: A | A | A
9:30 AM ET 10/6/14 | PR Newswire
Kerrisdale Capital ("Kerrisdale"), a New York based private investment manager, announced today that it will host a live presentation on mobile satellite services provider, Globalstar, Inc. (NYSE: GSAT). Sahm Adrangi, Chief Investment Officer, will debunk Globalstar's highly misleading claims about its business and discuss why Kerrisdale believes that Globalstar's equity value is worthless, in contrast to the Company's current $4 billion dollar market capitalization.

The live presentation will begin at 11:30am ET at AXA Event & Production Center at 787 Seventh Avenue, New York. Please arrive 15 minutes in advance to sign in. Registration for the live webcast of the presentation can also be accessed at kerr.co/10614. The full research report and presentation materials are available at factsaboutglobalstar.com.

"Globalstar is the most egregious stock promotion we have come across since Sino-Forest," says Sahm Adrangi, Chief Investment Officer of Kerrisdale Capital. "Globalstar's proposed paid Wi-Fi offering is nothing more than the company's latest gimmick to stave off bankruptcy, a stunt that rivals Allen Chan's fake forests as the most successful stock-market fantasy we've ever come across."

Kerrisdale believes the company is currently valued at $4 billion due to misleading and ill-informed publicity over the company's spectrum holdings and a proposed licensable Wi-Fi channel currently under review by the Federal Communications Commission. This licensable Wi-Fi channel will never be commercially viable, and its spectrum is unusable terrestrially in all other use cases. The combined value of the company's unprofitable core satellite business and potential terrestrial applications of its spectrum assets is lower than its debt burden, making the stock a zero.

Terrestrial Low Power Service is Not Commercially Viable

Globalstar's proposed Terrestrial Low Power Service ("TLPS") will never be commercially viable, based on Kerrisdale's in-depth research and discussions with numerous industry experts. In a world that already has three free, unlicensed channels in the 2.4GHz band and an additional 22 in the 5GHz band, one more channel, hypothetically accessible to only a circumscribed set of users, will never be worth many billions of dollars.

Wi-Fi "Congestion" is Highly Manageable

The Wi-Fi "congestion" that Globalstar purports to address is typically misdiagnosed and is a problem that IT professionals routinely solve every day by using best practices and modern technology. Kerrisdale's comprehensive report shows that network administrators have more than enough channels at their disposal to address co-channel interference, which would deem Globalstar's Wi-Fi offering irrelevant.

Heavy Debt Burden and an Unprofitable Core Business

Globalstar's mobile satellite services business has more than $500 million of outstanding net debt, and over the twelve months ended June 30, 2014, generated just $15 million of adjusted EBITDA and negative $95 million of operating income. Since emerging from bankruptcy in 2004, it has racked up cumulative operating losses of $460 million, increased its share count by a factor of 13, been de-listed from NASDAQ in 2012, defaulted on its debt in 2013, and is likely to violate its financial covenants again in the near future.

Kerrisdale's research report and presentation also discuss the public's increased usage of 5GHz Wi-Fi spectrum as compared to Globalstar's 2.4GHz Wi-Fi spectrum, consumers' relatively low appetite to pay for Wi-Fi and a discussion of how Globalstar's spectrum should be valued in a non-Wi-Fi use case.

Kerrisdale Capital holds short positions in Globalstar, Inc.

About Kerrisdale Capital

Kerrisdale Capital Management, LLC is a fundamentally-oriented investment manager that focuses on long-term value investments and event-driven special situations. Kerrisdale has $300 million in assets under management and is based out of New York City.

Contact

Agnes CaoKerrisdale Capital, LLCacao@kerrisdalecap.com 212-257-4385

SOURCE Kerrisdale Capital Management, LLC

Glad you posted this. Saw it this morning but wasn't smart enough to post it here!!! This is what I was talking about last week.

[Gasper Master]

Pooo. Glad i sold mine.

[I make oil]

I'm all out at $3.10

[southern151]

Originally Posted by I make oil

I'm all out at $3.10

I wish I had done that!

[Goooh]

I begged my broker to make me feel good about going in on this, but he refused. Glad he did

[Gasper Master]

Think i got out at 3.80. had bought in at $0.33!!!

[redaddiction]

Do some research on Kerrisdale before you decide. They are trash. Every topic in their report is already being rebutted.

All the other Large funds that own millions of shares are saying that they are still in this.

The technical details they are claiming about the 2.4ghz spectrum channel 14 have already been tested and verified by several 3rd party entities and has been filed with the FCC and the FCC has acknowledged this fact.

The debt topic is a joke as well. Of course they have debt. They borrowed 1 Billion dollars to launch their new satellites. Guess who they borrowed it from? Jay Monroe, the owner who also owns the company that loaned the money to them. Look them up....Thermo Companies. They don't just throw money away.

This is just a money grab that should be illegal. Small investors will sell. After they make money by shorting the stock they will turn around and go long and make money on the way back up also. Smart on their part I guess. The SEC won'b bother looking into this so nothing we can do. I'm still long, but albeit nervous. I'm down A LOT.


Everyone who is in this stock is in it for one reason. The FCC approval. If you're in it for the financials and technicals then you're in the wrong stock.