NASDAQ: GlobalNet Inc. http://www.secinfo.com/$/SEC/Registrant.asp?CIK=1095529&Notify=Yes&T=225440
from the CEO..:
Dear Fellow Shareholders:
Just like you I am extremely concerned about the current price of GlobalNet Inc. common stock. Our company has a market capitalization of less than half our projected revenues for calendar year 2000. This is far different from other companies in our peer group (i.e., IBasis (IBAS), ITXC (ITXC), GRIC (GRIC), and DELATATHREE (DDDC)). Our company has continued to perform going from revenues of $792,000 in 1997 to $54.4 million for the nine months ended September 30, 2000. Two weeks ago we issued a press release reaffirming our revenue projections for 2000 and the following two years -- $74.5 million this year, $199 million next year and $441 million in 2002.
I am concerned that the results we have been producing on a regular basis for the last half dozen quarters are not recognized by the investment community. As a result, we are increasing our commitment to a much broader outreach program aimed at investors. We are very excited about the future at GlobalNet because of the opportunity in the emerging markets of Latin America. According to the Yankee Group, an independent research firm, it estimates that through 2000 voice traffic in Latin America is seeing 20% growth, data is experiencing 93% growth, and the Internet is growing by 113%.
Latin America is about to experience an explosion, with less than 2% of the population connected to the Internet according to the Phillips Group, a telecom consulting firm. We believe that as one of the early entrants in this expanding market we are well positioned for future growth because of our expanding Internet Protocol ("IP") network and IP product suite.
/s/ Robert J. Donahue Chairman and Chief Executive Officer"
Look like the company could really run: http://www.quote.com/quotecom/stocks/headlines.asp?symbols=gbne&x=15&y=4
Quoting Ric Flair of the WWF, "....WOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO....."!!
A "..3-bagger.." in just three weeks - from 11Jan01.