Certain sections of the Annual Report on Form 10-K for the fiscal year ended December 31, 2008, as amended (the "2008 Form 10-K") of Globalstar, Inc. (the "Company") are hereby superseded to reflect the Company's adoption of Financial Accounting Standards Board Staff Position APB 14-1 "Accounting for Convertible Debt Instruments that May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1"). FSP APB 14-1 was adopted by the Company in January 2009 and required retrospective application. The impact of the adoption of FSP APB 14-1 is discussed in detail in Notes 16 and 19 to the Company's Consolidated Financial Statements for the year ended December 31, 2008, which are attached hereto as Exhibit 99.3. Currently approximately $71.8 million principal amount of 5.75% Convertible Senior Notes due 2028 are outstanding.

The attached exhibits contain the portions of the Company's 2008 Form 10-K that are affected by the adoption of FSP APB 14-1. Exhibit 99.1 reflects changes made to Item 6 - Selected Financial Data. Exhibit 99.2 reflects changes made to Item
7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. Exhibit 99.3 contains Item 8 - Financial Statements and Supplementary Data, which includes the complete set of consolidated financial statements from the Company's 2008 Form 10-K as recasted for the retrospective application of the impact of adopting FSP APB 14-1. These recasted financial statements are now a part of the Company's historical financial statements.

The information presented in Exhibits 99.1, 99.2, 99.3 and 99.4 to this current report on Form 8-K updates the information set forth in Items 6, 7, and 8 for the year ended December 31, 2008 and in the related consent of the Company's independent registered public accounting firm. None of the exhibits to this current report on Form 8-K reflect events after the filing of the Company's 2008 Form 10-K, and none of such exhibits modify or update the disclosure in its 2008 Form 10-K other than to reflect the changes relating to the retrospective adoption of FSP APB 14-1 as described above. As the Company has not modified or updated any other disclosures presented in its 2008 Form 10-K, all of such disclosures only refer to conditions existing as of the date of the Company's 2008 Form 10-K.

(d) Exhibits.

Exhibit
Number                                  Description

99.1      2008 Form 10-K, Item 6 - Selected Financial Data
99.2      2008 Form 10-K, Item 7 - Management's Discussion and Analysis of
          Financial Condition and Results of Operations
99.3      2008 Form 10-K, Item 8 - Financial Statements and Supplementary Data
99.4      Consent of Crowe Horwath LLP, Independent Registered Public Accounting
          Firm