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Globalstar’s Results

By | April 24, 2002

      Mobile phone and data service provider Globalstar announced earlier this month that it had 66,000 subscribers at the end of 2001, an increase 12 percent over the previous quarter.

      The company still remains in a precarious position having filed for Chapter 11-bankruptcy protection in February. It hopes to achieve cash flow breakeven with less funding than in its previous business model. The company expects to submit an alternative business plan to the bankruptcy court in the second quarter of this year.

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