Globalstar Inc. Jumps On Successful Wi-Fi Demo For FCC

Globalstar Inc.

opened sharply higher Wednesday on news that it offered regulators a successful demonstration of its terrestrial low-power Wi-Fi service. http://www.globalstar.com/en/tlps_doc/Globalstar_statement_on_TLPS_demonstration_031015.pdf The Covington, Lousiana company's shares changed hands recently at $3.11, up $0.17 cents, after gaining more than 11 percent in the pre-market session. Globalstar, focused to date on satellite telephone services, has said that the demonstration will clear the way for its authorization to offer low power terrestrial broadband services in the 2.4 GHz band "in the near future." The technology is aimed at freeing spectrum for terrestrial-based Wi-Fi that is currently reserved for satellite communications. On Wednesday, the company said it completed the demonstration March 10 at the Federal Communications Commission's Office of Engineering and Technology. Globalstar short-seller Kerrisdale Capital Management LLC last year sought to block Globalstar's November FCC application, saying the technology is ineffective. http://www.globalstar.com/en/index.php?cid=6000 About 5 percent of Globalstar's shares outstanding were held as short interest as of March 1. for the Federal Communications Commission