InvestorsHub Logo
Followers 20
Posts 1533
Boards Moderated 0
Alias Born 05/09/2006

Re: None

Friday, 07/11/2008 10:44:53 AM

Friday, July 11, 2008 10:44:53 AM

Post# of 157299
Insider sales. . .

Globetel reported that Przemyslaw L. Kostro (Chairman of the vaunted new management) held 9,211,385 shares (or 7.25%) of the Globetel common stock on October 17, 2007. As of July 1, 2008, he held ZERO shares.

Has anyone seen a Form 4? It makes you wonder how many other insiders were selling while encouraging others to buy. Maybe that's why the new auditor added this new paragraph to the recently filed financials:

(B) COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

Section 16(a) of the Securities Exchange Act of 1934 requires that our officers and directors, and persons who own more that ten percent of a registered class of our equity securities, to file reports of ownership and changes in ownership with the Securities and Exchange Commission and with any exchange on which the Company's securities are traded. Officers, directors and persons owning more than ten percent of such securities are required by Commission regulation to file with the Commission and furnish the Company with copies of all reports required under Section 16(a) of the Exchange Act. Based solely upon our review, we did not disclose any failures to file reports under Section 16(a) of the Exchange Act.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.