Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Monroe James III
 2. Issuer Name and Ticker or Trading Symbol
Globalstar, Inc. [GSAT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last)
(First)
(Middle)

1735 NINETEENTH STREET		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2011
(Street)


DENVER, CO 80202		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

___ Form Filed by One Reporting Person
_X_ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Voting Common Stock 08/25/2011   P4 50,000 A $ 0.81 1,460,346 I By Trust
Nonvoting Common Stock 11/03/2011   J4(1) 11,376,404 A $ 0.47 30,652,154 I By Thermo Funding Company LLC
Nonvoting Common Stock 11/30/2011   J4(1) 25,229,358 A $ 0.35 55,881,512 I By Thermo Funding Company LLC
Voting Common Stock             146,465,355 I By Thermo Funding Company LLC
Voting Common Stock             38,640,750 I By Globalstar Holdings, LLC
Voting Common Stock             618,558 I By Globalstar Satellite, L.P.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Warrant (Right to Buy) $ 1.25 06/14/2011   P4 8,000,000 (2)   07/28/2011 06/14/2016 Voting Common Stock
8,000,000
$ 0 8,000,000
I
By Thermo Funding Company LLC
Common Stock Warrants (Right to Buy) $ 0.01 06/19/2011   J4 5,000,000 (3)   06/19/2011 06/19/2016 Voting Common Stock
5,000,000
$ 0 16,276,114
I
By Thermo Funding Company LLC
Common Stock Warrant (Right to Buy) $ 0.52 09/30/2011   J4 (4) 3,920,768   09/30/2011 06/19/2014 Voting Common Stock
3,920,768
$ 0 9,872,845
I
By Trust
Common Stock Warrants (Right to Buy) $ 0.49 12/30/2011   J4 (4) 695,129   12/30/2011 06/19/2014 Voting Common Stock
695,129
$ 0 10,567,974
I
By Trust
Common Stock Warrant (Right to Buy) $ 0.01           08/06/2009 06/19/2014 Voting Common Stock
4,205,608
  4,205,608
I
By Thermo Funding Company LLC
Stock Option (Right to Buy) $ 0.38           11/14/2008 11/14/2018 Voting Common Stock
200,000
  200,000
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Monroe James III
1735 NINETEENTH STREET
DENVER, CO 80202		   X   X   Chief Executive Officer  
Globalstar Holdings, LLC
1735 NINETEENTH STREET
DENVER, CO 80202		     X    
Thermo Funding CO LLC
1735 NINETEENTH STREET
DENVER, CO 80202		     X    

Signatures

/s/ Bridget C. Hoffman, attorney-in-fact for James Monroe III 02/14/2012
**Signature of Reporting Person Date
/s/ Bridget C. Hoffman, attorney-in-fact for Thermo Funding Company LLC 02/14/2012
**Signature of Reporting Person Date
/s/ Bridget C. Hoffman, attorney-in-fact for Globalstar Holdings, LLC 02/14/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Nonvoting Common Stock issued upon draw from contingent equity account pursuant to the Contingent Equity Agreement dated June 19, 2009.
(2) Warrants issued in connection with the purchase of $20 million principal amount of the Company's 5% Convertible Senior Unsecured Notes.
(3) Warrants issued for annual loan fee under the Contingent Equity Agreement dated June 19, 2009.
(4) Warrants issued under anti-dilution provision of warrants issued in connection with the Company's 8% Convertible Senior Unsecured Notes.
 
Remarks:
Under all arrangements with the Reporting Persons, each may elect to receive Nonvoting Common Stock upon conversion or exercise of derivative securities.

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