FCC Development Sends Globalstar, Inc. (OTCMKTS:GSAT) Skyward

Over the weekend Globalstar, Inc. (OTCMKTS:GSAT) informed in a press release that the company had won the regulatory review by the Federal Communications Commission of its proposal for the use of part of its spectrum for mobile devices, including terrestrial broadband.

In Friday’s session GSAT‘s volume dipped significantly and remained under 1 million shares traded for the first time in nearly two full months. The price had lost nearly 10 cents after storming the $1.50 mark once again, without success.

The decision of the FCC to put in motion a Notice of Proposed Rulemaking was hailed as great news by GSAT. The goal is to allow the company to deploy a terrestrial broadband network over a fraction if its satellite spectrum band. The initial regulatory approval is also in line with the nationwide strategy of the U.S. aiming to expand the capacity of broadband networks and meet exponentially growing demand.

GSAT announced that a special conference call will be held this Wednesday to discuss the recent developments with the FCC. Even though it will be ‘several months’ before the final order is voted, the news were interpreted as a potential venue for GSAT to increase the value of the spectrum band it controls.

GSAT opened today’s session with a significant gap up and is currently trading 27% in the green, buoyed on the news.

Other stocks that commanded significant dollar volume on Friday include NanoTech Entertainment, Inc. (OTCMKTS:NTEK) who closed almost flat, at $0.16 per share. Sigma Labs, Inc. (OTCMKTS:SGLB) are on a green streak again, closing nearly 9% up on Friday and keeping at it in today’s early trading.