Failure to Satisfy Listing Rule Form 8 K

On November 25, 2024, Global Star Acquisition Inc. (the "Company") received a letter from the listing qualifications department staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq") indicating that the Company was not in compliance with Nasdaq's Listing Rule 5450(b)(2)(B) because the Company has not, as of November 18, 2024, maintained a minimum of 1,100,000 publicly held shares, as required under the Nasdaq continued listing standards for The Nasdaq Global Market.

Under Nasdaq Listing Rules, the Company has 45 calendar days or until January 9, 2025 to submit a plan to regain compliance with Rule 5450(b)(2)(B). If the Staff accepts the plan, the Staff may grant the Company an extension up to 180 calendar days from November 25, 2024 or until May 24, 2025 to regain compliance . The Company expects that the deficiency will be cured as a result of the consummation of its previously announced proposed business combination with K Enter Holdings Inc., a Delaware corporation ("K Enter") (the "Business Combination") as described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on June 22, 2023. The Company intends to submit a plan of compliance to Nasdaq on or before January 9, 2025, where it will request an extension of the compliance period to regain compliance with Rule 5450(b)(2)(B) from 45 calendar days to 180 calendar days. If the plan is not accepted by the Staff, the Company may appeal that decision to a Hearings Panel in accordance with Rule 5815(a). However, there can be no assurance that such appeal would be successful.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report on Form 8-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the Company's ability to regain compliance Nasdaq Listing Rule; the Company's intent to monitor its publicly held shares and take all reasonable measures available to the Company for continued listing on The Nasdaq Global Market; and the Company's success in appealing any delisting determination.

In some cases, you can identify forward-looking statements by terminology such as "outlook," "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "potential," "positioned," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements involve known and unknown risks, uncertainties and assumptions which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement, including, but not limited to, the Company's ability to regain compliance with the Nasdaq Listing Rule; and the other important factors outlined under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 15, 2024, as such factors may be updated from time to time in its other filings with the SEC, which are available on the SEC's website at www.sec.gov. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this Current Report on Form 8-K to reflect changes since the date of this Current Report on Form 8-K, except as may be required by law.