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looks like GLBT is coming back...... TDMAERITRADE just added it back to my watch list and account balance so something is up
If Globalnet resumes trading... will they honor their outstanding shares?
Hey Bro its been a while. Hope all is well with you too. I am hanging in there just trying to keep positive.
Hope everything is goin well for you.
Hey Dude welcome back
Is GLBT going to resume trading? The symbol and value just showed back up in my Ameritrade account this past week. I do not show any volume on the stock yet though. Does anyone know what is going on with this one lately.
Ribotsky forced out as Manager of NIR Group hedge funds
Posted by Teri Buhl under Hedge Fund Fraud
Corey Ribotsky is officially out as investment manager of his hedge funds run within NIR Group. Investors in his onshore AJW funds received a letter in the mail yesterday explaining PricewaterhouseCoopers Cayman would now be the liquidator of their funds.
Ribotsky’s letter dated January 17th said this was a 30 day notice of his ‘voluntary resignation’ but then wrote he was leaving ‘because of pressure from PWC and some investors.’ Sources close to the SEC investigation said this means he’s out of any decision making role regarding asset sales but PwC wouldn’t answer questions if Ribotsky’s firm First Street will still act as collateral manager of the funds during the liquidation. The investor letter told investors to call PwC if they had questions, which is another signal the alleged fraudster is really getting out of the biz.
This is a win for hundreds of mom and pop investors who invested with Ribotsky through their IRAs or pension funds who’ve been left in the dark about the value of their assets since the last performance report a year ago—NIR reported the onshore fund was negative 2% for January 2011. Last month two investors who spoke with NIR’s Bobby Cohen were told the fund wasn’t planning on providing a year end valuation for 2011 because the SEC investor fraud suit made it difficult to value the assets. These investors told me it’s unclear if they will still get an accounting for tax purposes for 2011 but hope now that PwC is in control there will be more transparency.
Ian Stokoe, the PwC liquidator wrote in an email this morning confirming they now controlled all six of the onshore funds along with the Master fund and the offshore fund. He also said they are in the process of communicating with investors regarding what the next steps will be.
This spring I reported at DealFlow Media, Stoake said part of their role will be to inspect if the assets were overvalued and if investors have overpaid on fees. A notion the SEC also laid out in their lawsuit against NIR Group and Ribtosky filed in federal court this fall. A onshore investors told me today they will be interested to see if PwC uncovers even more information on the level of alleged fraud within the fund now that they control all the assets/funds under the NIR Group umbrella.
Additionally the Department of Justice in the Eastern District of New York once again delayed the sentencing for Ribotsky’s former right hand man, Daryl Dworkin, who plead guilty to taking bribes or kickbacks for PIPE investment in July 2010. The new sentencing date of July 2012 signals the DOJ is still working on their investigating into Ribotsky and NIR Group and Dworkin is very likely helping them in hopes of a lighter jail time –he’s facing up to 30 years. Ribotsky has still not been charged for any criminal wrong doing.
Page 13 now:
http://www.sec.gov/litigation/complaints/2011/comp22106.pdf
tlo.
For some reason the browser is not letting it load, can you please copy and paste or advise what is said. Thanks
Have a look @ page 14:
http://www.sec.gov/litigation/complaints/2011/comp-pr2011-194.pdf
tlo.
I thought that we were dead...but GLBT still shows in my ETrade account.
When the fraud came to an end in 2000, GlobalNet's stock lost value and investors suffered losses. But the scheme did not come to light until after the company stopped trading publicly in 2002, soon after GlobalNet was acquired by The Titan Corp. (Titan was in turn acquired by L-3 Communications Corp. in 2005.)
Think this is only for investors that bought before 2000? & not for shareholders of GLBT now?
Judge Nicholas G. Garaufis seems to be a real tool. Much like the system he represents. Not with standing the government's screw ups with the evidence here but of course the share price went down because of Gushlak's shenanigans. Plus if the cost of his manipulation is in question how is it the court system is getting $25 million from him for the admission of guilt? I guess being guilty for the crime has a set price but being effected share-holders (who have lost, more than likely, much more than $25 million the court system is getting) does not count unless they examine it much more closely (down to the penny). They sure don't want any of those nasty share-holders getting something they don't deserve... unlike their $25 mil! wink wink seriously who is the real criminal here?
U.S. Told Restitution Bid in Investor Fraud Case Remains Flawed
Brendan Pierson ContactAll Articles
New York Law Journal
July 28, 2011
Giving federal prosecutors a fourth and final chance to win restitution from a man who pleaded guilty last year to defrauding investors, Eastern District Judge Nicholas G. Garaufis said the government has failed to prove its claim that the scheme caused investors to lose $9 million.
In United States v. Gushlak, 1:03-cr-00833, Judge Garaufis ordered prosecutors to submit additional evidence by Aug. 22 to support their request for restitution in the case of Myron Gushlak. The judge set a Sept. 6 hearing on the issue.
"If the Government again fails to prove loss causation and the amounts of each victim's loss, the court will be forced to deny the Government's request to order Gushlak to make restitution," the judge said. "This would be unfortunate. Gushlak has admitted to stealing from a large number of people what likely amounted to a significant portion of their personal wealth."
Mr. Gushlak, who was a director of GlobalNet Inc., pleaded guilty to securities fraud in 2003. He admitted that in 1999 and 2000 he worked to inflate the value of GlobalNet stock, partly by paying kickbacks to brokers who bought the stock for their clients.
When the fraud came to an end in 2000, GlobalNet's stock lost value and investors suffered losses. But the scheme did not come to light until after the company stopped trading publicly in 2002, soon after GlobalNet was acquired by The Titan Corp. (Titan was in turn acquired by L-3 Communications Corp. in 2005.)
In November 2010, Mr. Gushlak was ordered to pay a $25 million fine and sentenced to six years in prison. He is now serving the prison term while he appeals the sentence.
Prosecutors from the Eastern District U.S. Attorney's office asked for restitution in December, seeking $20 million. They did not provide the trading records the government relied on, the methodology used to calculate the figure or a list of victims and their losses.
Because of these omissions, Judge Garaufis said the government had not proven the investors were entitled to restitution and he ordered that the missing information be provided.
In their second request for restitution, submitted in January, prosecutors explained that they looked at trading records for GlobalNet stock between March 1 and Nov. 1, 2000, to calculate losses. They said they ignored investors who received positive return from the stock and they valued GlobalNet stock that was not sold at the end of the trading period at $0.
Judge Garaufis was again not convinced. He said the government had not explained how it decided on the trading period or why it valued unsold stock at $0, effectively assuming "that GlobalNet had literally no intrinsic value."
The judge pointed to the 2007 decision in United States v. Rutkoske, 506 F.3d 170, 178, where the U.S. Court of Appeals for the Second Circuit held that in seeking restitution for a stock price manipulation scheme, the government must prove what the stock would have been worth without the manipulation.
Furthermore, the judge said, the government had not shown that all the decline in GlobalNet's stock resulted from Mr. Gushlak's fraud.
Prosecutors submitted a third request for restitution in April. In order to account for factors other than Mr. Gushlak's fraud that influenced the stock price, they looked at various stock price indices. The indices declined 20 percent during the relevant trading period, while GlobalNet stock declined 72 percent, prosecutors said. Taking into account the effect of the market, the government lowered its request for restitution to $9 million.
Judge Garaufis said Tuesday that the problems with the earlier restitution requests had not been resolved.
"The Government has failed to prove that any of the people who purchased GlobalNet stock lost money because of Gushlak's securities fraud conspiracy," he said.
"Even though Gushlak has admitted that the price of GlobalNet shares was inflated, the Government has offered no basis for inferring that the decline in GlobalNet's share price—and the resulting loss suffered by GlobalNet shareholders—was caused by the fraud. Gushlak's guilty plea establishes only transaction causation—the causal link between the fraud and the GlobalNet stock purchasers' decisions to purchase GlobalNet stock," Judge Garaufis said. "The plea does not establish loss causation—a causal link between the fraud and the decline in GlobalNet's share price."
The judge dismissed the government's comparison of GlobalNet stock to indices as "irrelevant." Such a comparison could be helpful in a more traditional case where shareholders lost money after a fraud was revealed to the public, he said.
"But where the market remains entirely unaware of fraud that is inflating a stock's price, a comparison of the decline in the stock price and the decline of the price of comparable companies and relevant market indices does not say anything about what portion of the decline in the stock's price was caused by the fraud," he said.
Judge Garaufis made a number of suggestions for what additional information the government could provide, going so far as to explain how it could organize data to establish "what percentage of the daily market for GlobalNet shares during the relevant trading period was comprised of trading activity attributable to the GlobalNet conspiracy."
He added, "The Government could do this by creating a spreadsheet listing the trading volume of GlobalNet shares for each day during the relevant trading period in one column, in a second column listing the percentage of the trading volume each day that was comprised of trades attributable to the GlobalNet conspiracy, and in a third column listing the daily closing price for GlobalNet shares."
The judge also asked the government to explain exactly when and how the scheme unraveled, saying that information was largely missing from the record.
Brian Rosner of Rosner Napierala and Alan S. Futerfas, attorneys for Mr. Gushlak, both said in a joint interview that they were pleased with the decision. They said it supported their view that the government could not prove loss causation and that Mr. Gushlak should not pay restitution.
Robert Nardoza, a spokesman for the Eastern District U.S. Attorney's Office, said the government is reviewing the decision and declined to comment further.
@|Brendan Pierson can be contacted at bpierson@alm.com.
http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202508625591&US_Told_Restitution_Bid_in_Investor_Fraud_Case_Remains_Flawed&slreturn=1&hbxlogin=1
Thanks for the info Mike. Maybe someone who has an interest in this company will get off their arse and do something positive. We all know the people running the company don't give a rip.
Last Chance to Collect Restitution From Securities Fraud Schemer
By ADAM KLASFELD
ShareThis
BROOKLYN, N.Y. (CN) - Prosecutors have one more chance to calculate proper restitution owed by a man who pleaded guilty to making millions on securities fraud, a federal judge ruled. But if they overestimate for a fourth time, victims won't get a dime.
Canadian-born stock promoter Myron Gushlak pleaded guilty in 2003 to conspiring to manipulate the stock price of the communications service GlobalNet and other publicly traded companies between January 1999 and December 2000.
At his Nov. 18 sentencing, he was sentenced to six years in prison and a $25 million fine, and prosecutors submitted a restitution estimate of approximately $20.4 million about a month later.
It was the first of three estimates that U.S. District Judge Nicholas Garaufis dismissed as faulty.
If they fall short again, Gushlak will not have to pay any restitution, the judge warned.
"This would be unfortunate," the 16-page order states. "Gushlak has admitted to stealing from a large number of people what likely amounted to a significant portion of their personal wealth."
Garaufis has criticized prosecutors for failing to show trading records or describe the methodology they used in reaching restitution estimates.
On Jan. 27, the government included a declaration by Financial Industry Regulatory Authority analyst Peter Melley, who described how he used the trading records to calculate victim losses. They also submitted spreadsheets of securities trading data for the judge to inspect.
But these calculations were faulty because they assumed "that GlobalNet had literally no intrinsic value," Garaufis wrote.
On Tuesday, the judge ruled that the latest attempt failed because the government mistakenly argued that Gushlak's fraud was the sole factor behind GlobalNet's stock decline.
"Gushlak's guilty plea establishes only transaction causation - the causal link between the fraud and the GlobalNet stock purchasers' decisions to purchase GlobalNet stock," Garaufis wrote. "The plea does not establish loss causation - a causal link between the fraud and the decline in GlobalNet's share price."
Garaufis gave prosecutors two pages of suggestions that might help their last attempt, but he acknowledged that even case law shows that such calculations are not an "exact science."
"While determining the value of securities in the absence of fraud is 'extremely difficult,' [] and 'cannot be an exact science,' [] the Government should review the case law that instructs how it must be done, and strive diligently to carry its burden under 18 U.S. C. § 3664(e) to prove victim losses," Garaufis wrote.
Prosecutors must submit evidence on Aug. 22, and discuss the evidence at a Sept. 6 hearing.
I just hope the Feds eyebrows are raised if indeed they have been watching this guy...everything he touches turns to squat..just does not seem right or legitimate..
I wonder if he has steak& Lobster while we eat macaroni & oleo
http://investing.businessweek.com/research/stocks/people/person.asp?personId=322672&ticker=PFEH:US
OMG!!!!
Can you say FILTHY RICH ! You never know.
Why can't we be this!!
http://www.cnbc.com/id/41477623
Wow never knew, and sort of don't want to. Your post hurt my head! LOL
I've had these since 2003, Must have been some Record date of ownership I jumnped in and out on. Yea $33k would be a poor use of funds.
I've got a few killer shell plays with comfirmen filings that I'd rather roll the dice on.
I dunno, just looking at my account and figured I take a look to see if it even had a thread. I'm surprsed yall even post in here.
Thanks for the info, maybe I could donate then to the local cathloic church. You get the 100% dollar amount you paid as the deduction. Problem is I got nothing! Diviudent shares. Got a list over the years.
http://nvsos.gov/sosentitysearch/FeeDetails.aspx?ctok=JJgsakra7HgKxMxdFLN89Q%253d%253d
Reinstatement Fee $ 300.00
Annual List (due 12/31/2008) File This List Online Now! File Offline
$ 11,100.00
Annual List Late Fee $ 75.00
Annual List (due 12/31/2009) File This List Online Now! File Offline
$ 11,100.00
Annual List Late Fee $ 75.00
Annual List (due 12/31/2010) File This List Online Now! File Offline
$ 11,100.00
Annual List Late Fee $ 75.00
Registered Agent Change File Offline
$ 60.00
1 Hour Expedite (Applies to any Registered Agent Changes, List of Officer Filings AND Reinstatements filed for this entity) $ 1000.00
2 Hour Expedite (Applies to any Registered Agent Changes, List of Officer Filings AND Reinstatements filed for this entity) $ 500.00
24 Hour Expedite (Applies to the List of Officer Filings filed for this entity only) $ 125.00
24 Hour Expedite (Applies to Registered Agent Change only) $ 25.00
24 Hour Expedite (Applies to Reinstatement and if applicable, the associated Registered Agent Change) $ 125.00
Certificate of Good Standing Order This Certificate Online Now! Order Offline
$ 50.00
1 Hour Expedite (Applies to Certificate of Good Standing only) $ 1000.00
2 Hour Expedite (Applies to Certificate of Good Standing only) $ 500.00
4 Hour Expedite (Applies to Certificate of Good Standing only) $ 125.00
24 Hour Expedite (Applies to Certificate of Good Standing only) $ 125.00
TOTAL* $ 33,825.00
NEVER MIND ownwership of stock ,these fees alone are going to make it impossible to bring back the corp from defaulted status.
So does anyone out there in cyber land even know if there is a controling block of shares owned by one individual or entity and would be willing to sell the shell for a new R/M play?
Or are these shares scattered among all of us with no real majority block?
Anyone want to entertain pooling and put the CEO out and sell this on the open market as an assets debt free clean shell?
Like what else is there. And claiming this on taxes is odd, I think I have 3 years in a row, LOL!
And how did we even get these shares? Its been so long I don't even remember. I sort of get sick of looking at em. Last thing I'd do is call your broker and dump em. Let em sit till hell freezes over.
Hey Nate, I use TDA and they still have my shares valued at .0001 but your guess is as good as mine. I'm in another stock where shorty got busted so maybe we can get lucky here too. Ticker is RCCH.
SEC charges pair for selling billions of shares
2011-01-06 19:41 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-BWNR) Brownstone Resources Inc
Also Street Wire (U-MGLG) Magellan Inc
by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil charges against two U.S. residents for illegally distributing billions of shares in at least 12 pink sheets companies. The SEC claims that the men, Ezat Rahimi of California and Ian Lamphere of Vermont, repeatedly bought discounted shares in unregistered transactions and immediately dumped the stock, making $1.6-million in profits. (All figures are in U.S. dollars.) The stocks include Toronto-based Magellan Inc. and Toronto-based Brownstone Resources Inc.
The charges are contained a civil complaint the SEC filed on Jan. 6, 2011, in the Eastern District of California. In addition to Mr. Rahimi and Mr. Lamphere, the defendants are Cassandra Armento, a New York lawyer who wrote opinion letters used in the scheme, and Gendarme Capital Corp., a private company that Mr. Rahimi and Mr. Lamphere control.
According to the complaint, Gendarme Capital illegally distributed shares in 12 pink sheets companies starting in early 2008 and ending in May, 2010. Typically, Gendarme acquired shares from small public companies at a discount of 30 to 50 per cent, falsely representing to the issuer that it was buying the shares for investment purposes. Then, within days or weeks, Gendarme resold the stock on the market, the SEC says.
During the scheme, Gendarme claimed on its website that it was an accredited investor that bought shares under Rule 504, an exemption that applies to accredited investors who do not plan to resell the stock. According to the SEC, Gendarme actually bought the stock with a view to immediately selling it. In doing so, it acted as an underwriter and was required to register the transactions.
One example described by the SEC is that of WGL Entertainment Holdings Inc., a Florida-based company that produced a TV show called the WGL Million Dollar Shootout. Between March and September, 2008, Gendarme entered into warrant agreements that allowed it to buy shares of WGL at a 30-per-cent discount to the market price. The SEC says that Gendarme used those agreements to acquire over six billion shares for $615,000. According to the complaint, it then sold the stock within days or weeks, grossing $780,000. (The stock, which traded around two cents in March, 2008, was at 0.01 cent by October, 2008.)
In negotiating to buy the shares, Mr. Rahimi indicated to the company that he would help establish a market, the SEC claims. He told the CFO that Gendarme would "try to find a life in your stock" and "if your stock starts trading with our help, you will have a liquid stock on your hands."
One of the key helpers in the scheme, as described by the SEC, was Ms. Armento. According to the complaint, she drafted more than 50 opinion letters stating that Gendarme could receive shares in the companies without any trading restrictions. She made no inquiry as to whether Gendarme planned to sell the shares to the public, the SEC claims. "Armento knew that, as a result of her opinion letters, Gendarme was obtaining shares without a restrictive legend, and thus would have the ability to quickly sell the shares to the public, even if doing so violated ... the Securities Act," the complaint states.
The SEC is seeking appropriate civil penalties and disgorgement of ill-gotten gains against all defendants, as well as penny stock bans against all defendants except Ms. Armento.
The other stocks listed in the complaint are Macada Inc., Perihelion Global Inc., Bederra Corp., Z Com Networks Inc., RCC Holdings Inc., 141 Capital Inc., RBID.com Inc., Russell Industries Inc. and TidwalWave Holdings Inc. (The complaint does not accuse the companies of any wrongdoing.)
Magellan and Brownstone both list Canadian addresses, and one of the other stocks has a lesser Canadian connection. In 2009, RCC Holdings claimed that it had appointed William Hess, the former president of the Canadian Venture Exchange, as a director. (The company initially said he was president of the Toronto Stock Exchange, which it later corrected.) As it turned out, Mr. Hess did not ever become a director of the company, as his appointment was contingent on the company completing an acquisition that it never finalized.
--------------------------------------------------------------------------------
For some reason at ETrade, every so often it shows a value of .0001. Most of the time it's zero, but I wonder why .0001 shows up sometimes?
Never gonna happen. JMHO
GLBT will never trade again unless the ceo steps up to the plate with finra and sec and corrects the reasons why the sec stopped trading.you can claim your losses as a sell for zero money and an explanation that the sec revoked it's charter, your ea or cpa knows or should know how to work this. you can also blame all of your losses on the chiggnchit ceo,or shell owner.
Tax write off! anyone think any different?
Geez Give it up morons...
this scam has been exposed 9 ways to Sunday....
ooh a new post, i thought some sudden price explosion at GLBT? but sadly not :)
New shorting laws come into effect tomorrow!
This rule was introduced with the filing of SR-FINRA-2010-028, which has been approved by the SEC. This rule becomes effective on October 15, 2010.
(a) If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a non-reporting threshold security for 13 consecutive settlement days, the participant shall immediately thereafter close out the fail to deliver position by purchasing securities of like kind and quantity.[color=red][/color]
(1) Provided, however, if a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency for thirty-five consecutive settlement days in a non-reporting threshold security that was sold pursuant to SEC Rule 144, the participant shall immediately thereafter close out the fail to deliver position in the security by purchasing securities of like kind and quantity. The requirements in paragraph (b) shall apply to all such fails to deliver that are not closed out in conformance with this paragraph (a)(1).
(b) If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a non-reporting threshold security for 13 consecutive settlement days (or 35 consecutive settlement days if entitled to rely on paragraph (a)(1)), the participant and any broker or dealer for which it clears transactions, including any market maker that would otherwise be entitled to rely on the exception provided in paragraph (b)(2)(iii) of Rule 203 of SEC Regulation SHO, may not accept a short sale order in the non-reporting threshold security from another person, or effect a short sale in the non-reporting threshold security for its own account, without borrowing the security or entering into a bona-fide arrangement to borrow the security, until the participant closes out the fail to deliver position by purchasing securities of like kind and quantity and that purchase has cleared and settled at a registered clearing agency.
(c) If a participant of a registered clearing agency reasonably allocates a portion of a fail to deliver position to another registered broker or dealer for which it clears trades or for which it is responsible for settlement, based on such broker or dealer's short position, then the provisions of this Rule relating to such fail to deliver position shall apply to the portion of the fail to deliver position allocated to such registered broker or dealer, and not to the participant.
(d) A participant of a registered clearing agency shall not be deemed to have fulfilled the requirements of this Rule where the participant enters into an arrangement with another person to purchase securities as required by this Rule, and the participant knows or has reason to know that the other person will not deliver securities in settlement of the purchase.
(e) For the purposes of this Rule, the following terms shall have the meanings below:
(1) the term “market maker” has the same meaning as in Section 3(a)(38) of the Exchange Act.
(2) the term “non-reporting threshold security” means any equity security of an issuer that is not registered pursuant to Section 12 of the Exchange Act and for which the issuer is not required to file reports pursuant to Section 15(d) of the Exchange Act:
(A) for which there is an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency of 10,000 shares or more and for which on each settlement day during the five consecutive settlement day period, the reported last sale during normal market hours for the security on that settlement day that would value the aggregate fail to deliver position at $50,000 or more, provided that if there is no reported last sale on a particular settlement day, then the price used to value the position on such settlement day would be the previously reported last sale; and
(B) is included on a list published by FINRA.
A security shall cease to be a non-reporting threshold security if the aggregate fail to deliver position at a registered clearing agency does not meet or exceed either of the threshold tests specified in paragraph (e)(2)(A) of this Rule for five consecutive settlement days.
(3) the term “participant” means a participant as defined in Section 3(a)(24) of the Exchange Act, that is a FINRA member.
(4) the term “registered clearing agency” means a clearing agency, as defined in Section 3(a)(23)(A) of the Exchange Act, that is registered with the SEC pursuant to Section 17A of the Exchange Act.
(5) the term “settlement day” means any business day on which deliveries of securities and payments of money may be made through the facilities of a registered clearing agency.
(f) Pursuant to the Rule 9600 Series, the staff, for good cause shown after taking into consideration all relevant factors, may grant an exemption from the provisions of this Rule, either unconditionally or on specified terms and conditions, to any transaction or class of transactions, or to any security or class of securities, or to any person or class of persons, if such exemption is consistent with the protection of investors and the public interest.
http://finra.complinet.com/en/display/display.html?rbid=2403&element_id=9398
http://www.finra.org/Industry/Regulation/RuleFilings/2010/P121522
The babe yessss...the company...no. Wow!!! what a hottie !!!!
Yes I do remember the company. I had shares in this and GTEL who touted their stratellite. Made some nice coin on that one with its rise from around .o3 to the .20s. And I do remember now that GLBT got diluted like crazy. Funny thing is GTEL actually DID get R/S and uplisted to the AMEX I believe it was.....then got DElisted months later. I got out luckily with a decent profit. I'm still not sure if that whole stratellite thing was a scam or not lol! Have u heard?
Also....I DO remember "pound that pig!". .
BTW....u shud chk out KATX....great potential!! GLTU2. ...rule
Yep, they were in the (then emerging) VOIP Business. Then, they got all diluted, gack.
And the Share Structure ballooned to an engorged 12 BILLION SHARES, whilst Share Price fell, fell, cascaded, and fell some more.
Hah, THOSE were the days. NOT. :-0
I still remember the name...MARK WOOD. Remember him? He seemed pretty good at the time...and then things "failed to get delivered" and etc.
I was the one who was the chronic "Cheerleader" back then.
Oh well....Hey, I still am a "Cheerleader" of sorts, just more chastened and wary nowadays.
And yes, I still cry POUND THAT PIG!!$$
All the Best to You!
Wow....I remember this co. years ago when it spiked to 19 cents. They were in the VoIP business, correct?
(crickets....crickets....crickets....) Ok well when somebody shows up perhaps they'll be kind enough to answer lol
No but looks like we are still in anyway. You just never know what might happen.....
Anything exciting happening?
Yep I got a value too on my account..Anything could happen..
Yep I got a value too on my account..Anything could happen..
nb, GLBT will never trade again;
That is what "revoked" means. You are smarter than this; quit playing.
Good luck.
when it trades again what will you say then???
NB
Contact your broker, it is a mistake. EOM
Well I Guess Mr Know it all Flaflyersfan owes us an apology because my account shows a value for GLBT shares now!!! LOL IT'S ALIVE!!! GLBT IS ALIVE!!!
NB
Are we in the oilbusiness? Your link goes to HTOG, what's the connection?.
TB
WHERE did you hear that rumor ??here?lol!!
379399108 cusip
Advanced searchAbout 52 results (0.49 seconds) Search Results[PDF] Important Notice - OVER THE COUNTER UPDATESFile Format: PDF/Adobe Acrobat - Quick View
Apr 5, 2010 ... 379399108 GLBT. GLOBALNET CORPORATION. XNAS. 04/05/2010 ... CUSIP CHANGE. DELETE. E9214G136 TUBFF. TUBOS REUNIDOS SA ORD SHS. (SPAIN) ...
www.dtcc.com/downloads/legal/imp_notices/2010/nscc/.../OTC-063.pdf[PDF] OTC- 073.doc Important NoticeFile Format: PDF/Adobe Acrobat - Quick View
Apr 19, 2010 ... Cusip #. Symbol. Name. Exchange Effective. Date. ADD ***. G2111W104 CCYXF ... 379399108. GLBT. GLOBALNET CORPORATION. XNAS. 04/19/2010 ...
www.dtcc.com/downloads/legal/imp_notices/2010/nscc/.../OTC-073.pdf
looks like glbt was reinstated 4/19/10
http://www.google.com/search?hl=en&rls=com.microsoft%3Aen-us%3AIE-SearchBox&rlz=1I7RNWN_en&q=heartlandoilandgas.net&btnG=Search&aq=f&aqi=&aql=&oq=&gs_rfai=
read 2nd one down pdf file shows reinstatement two weeks later. ,1st one shows suspension
12K SEC
SUSPENSION
379399108
GLBT
GLOBALNET CORPORATION
XNAS
04/05/2010
12K SEC
REINSTATEMENT
379399108 GLBT GLOBALNET CORPORATION XNAS 04/19/2010
http://www.sec.gov/litigation/admin/2010/34-62008.pdf
This Order revokes the registrations of the registered securities of Respondents
heard a little rumor that GLBT may be being bought. would be nice...
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About GlobalNet Corporation
GlobalNet Corp is ranked among the top ten US service providers of International Wholesale Voice and Fax Termination to Latin America, and counts more than 30 Tier 1 and Tier 2 carriers as customers, apart from a host of other reputed global service providers and major international telecommunications organizations including AT&T, MCI/WorldCom, Qwest, Global Crossing, IDT, Broadwing and ITXC.
GlobalNet Corporation as the surviving entity from a merger of GlobalNet, Inc. and iDial Networks, Inc. GlobalNet, Inc. merged with and into iDial and iDial changed its name to GlobalNet Corporation. GlobalNet provides international voice, data, fax and Internet services on a wholesale basis over a private Internet Protocol (IP) network to international carriers and other communication service providers in the United States and internationally. GlobalNet's IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications. GlobalNet `s principal focus is providing service from the United States to Latin America, with 75% of its traffic terminating in Mexico.
Business Overview
GlobalNet has earned international recognition as a aggressive, flexible, quality-driven company in the wholesale carrier services arena. The wholesale carrier services form the backbone of GlobalNet’s business, routing millions of minutes of international telecommunications traffic from other carriers through its own switching and network infrastructure.
These other carriers are able to take advantage of GlobalNet’s discounted rates, bargaining power, and commitment levels, thanks to our existing and expanding telecom traffic in key global markets, and to our competitively priced services.
Highlights
What differentiates GlobalNet from other carriers, and makes it one of the best, most powerful choices in the industry, is that it manufactures its own minutes. Unlike some competing companies, GlobalNet does not simply re-sell another company’s minutes to yet another party, but also sells its own minutes. And it is thus able to offer aggressive pricing, owing to its extensive VoIP expertise, worldwide carrier relationships, and financial relationships.
Key Objective
GlobalNet’s goal as a carrier is to offer aggressive pricing while maintaining high quality to other carriers and service providers, allowing them to focus their efforts and resources on maintaining and growing their core businesses.
Network Coverage
GlobalNet is increasing the percentage of traffic it carries on its network or "on-net", enabling it to increase margins and profitability while ensuring quality. In addition, GlobalNet's use of multiple carriers increases cost efficiencies by establishing additional routing capability and enables GlobalNet to obtain sufficient capacity to support rapid growth.
Expansion Program
The company is now expanding its network by seeking parnters in targeted U.S. and foreign markets to provide more cost efficiencies and savings by routing an increasing portion of traffic "on-net." GlobalNet also expands its international connection termination capabilities through the establishment of contracts with major international carriers.
Worldwide Network
The GlobalNet network includes backbone connections, routing and gateway equipment in San Antonio, Texas and Houston, Texas. The network is capable of originating and terminating via SIP, H.323 or TDM technologies.
The business model of GlobelNet is focused on capitalizing on the opportunities resulting from the characteristics of the Latin American, Asian, and other emerging profitable markets.
Two strategic principles guide the business model:
i) GlobelNet is developing technological and strategic capacities, providing high margin origination minutes for in country.
ii) GlobelNet is developing the ability to enter multiple markets - Pre-paid Calling Cards, Consumer VoIP, Broadband SIP Services and Wholesale - through the use of a common infrastructure based on VoIP technology providing a set of high-end enhanced services.
GLOBALNET NEW HEADQUARTERS IN PIC BELOW along with OAA
2361 Campus Drive, Suite 101, Irvine, CA 92612
Since our CEO Mark Shaftlein works for GLBT and Ocean Ave I am putting up OAA's info.
Addressing share structure or dilution in GLBT
I pulled this from most recent 8k on 2/16/07
The Company's Articles of Incorporation currently allow for issuance of a maximum of 20,000,000,000 shares of common stock. Currently, the Company has approximately 12,200,000,000 shares outstanding (including conversions during calendar years 2007 and 2006)
(remember we had 9.3 billion in feb 06)
So it seems that over a 13 month period 2.9 bill were released or coverted. That isn't an alarming rate by no means. Roughly 223 mil per month and our trading volume during that 13 month period was (15.3 bil shares) So we are averaging over 1 bil in volume a month even with the quiet time factored in. So that would prove that even with dilution of 223 mil per month the accumualation has still been climbing all along please refer to the chart above in ibox and see accum/dist indicator. And the fact that 1.1 billion shares during that time were naked shorted.
I can't wait until they deliver those 1.1 billion in naked short shares. Those were buys that were put aside or not delivered during the last 13 months.
From 8k on 6/1/06 The Investors have contractually agreed to restrict their ability to convert the Notes and exercise the Warrants and receive shares of our common stock such that the number of shares of the Company common stock held by them and their affiliates after such conversion or exercise does not exceed 4.99% of the Company's then issued and outstanding shares of common stock
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HEADLINES AND LINKS
HOUSTON, Oct 10, 2006 (BUSINESS WIRE) -- GlobalNet Corporation (Pink Sheets: GLBT) announced today it has named Gail Villeneuve, a telecommunication industry professional with 16-years of worldwide sales experience, as Vice President of Wholesale Long Distance.
Villeneuve previously held general management, technical and sales operation positions with Global Access International, Inc., Global Crossing Ltd. and Sprint Nextel Corp. Her focus at GlobalNet will be to oversee its wholesale carrier business servicing telecom carriers and ISPs.
My Commentary---
"This is one of the things i am keeping my eye on."
November 06, 2006--GlobalNet is presently reviewing discontinuation of some of its retail products to dedicate resources to the company's new area of focus, business VoIP or more specifically business data and voice convergence. The company is currently pursuing beta customers in the IP trunking and IP/PBX product categories. It expects to sign agreements with Beta customers in their respective product categories during the first quarter of 2007.
My Commentary"forward looking events"---full article link below. "I am looking for the possibility and new revenue streams and if they are headed into the triple play catagory which is hot right now. VOIP-- TV/VIDEO --DATA/internet= triple play"
http://www.tmcnet.com/usubmit/2006/11/06/2050235.htm
TOOLS AND DD LINKS
These two links are good for news and events historical or current.
1)http://www.equitygroups.com/otcbb/glbt.html
2)http://www.tmcnet.com/query/tmcnetq.asp?SearchString=globalnet+corporation&Action=Go%21
Globalnet Risk Rating on Nasdaq.com was in excess of 800 just weeks ago. It dropped below 100 now too low to calculate http://www.nasdaq.com/services/riskMetrics.stm?&tickers=glbt&lnk=Q&selected=glbt&sym....
GLBT rating on stockscores. 55x52 as of 4-16-07http://www.stockscores.com/quickreport.asp?ticker=glbt
Alexa Traffic Ranking and Detail for GLBT http://www.alexa.com/data/details/traffic_details?url=www.gbne.net
Stay up to date on all filings herehttp://www.sec.gov/cgi-bin/browse-edgar?company=globalnet%20corp&CIK=&filenum=&State=&am....
Sub penny tracking device when aroon gets over 0 line watch out thinks can get really funhttp://stockcharts.com/charts/candleglance.php?GLBT,SRSR,VYON,INXR,$INDU,QQQQ,CNES|C|C20
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DISCLAIMER:
Opinions expressed on this board are just that. Opinions. We are not licensed brokers. Trading strategies discussed on this board are often high risk and not suitable everyone. If you are losing money in the market, you may wish to seek the advice of a licensed securities professional.
No one is responsible for your gains or losses in the market except YOU. If you follow stocks, strategies discussed on this board, you may LOSE ALL YOUR MONEY. Please weigh the strategies discussed here carefully against what you are willing to risk.
Please do your own due diligence before buying or selling ANY SECURITY in the open market, there are no guarantees.
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pulled this off a newer 8 k embedded in section 4k
k. Naming of New Chief Executive Officer. The Company shall publicly announce, within 3 business days of the Company becoming current with its 34 Act Reports, the name of the new Chief Executive Officer of the Company.
BOARD RULES
No name calling or personal attacks will be tolerated on this board. Whether its pumper or basher or whatever. We all have our own opinions and we are here to express them so feel free to do so.
WHEN POSTING PLEASE PROVIDE LINKS AND/OR ANYTHING OF SUBSTANCE TO PROVE YOUR POINT. IF YOU USE FACTS YOU ARE MUCH MORE LIKELY TO BE VIEWED AS A CREDIBLE POSTER.
I have made the board the best i could and have no control over when the company releases info or news.
We will try to be fair to all here as long as you stay within the TOS guidlines. We do take this seriously and I am letting you know this now. We will do my part to keep this board clean and civilized. Here is the link for tos http://www.investorshub.com/boards/complex_terms.asp
Welcome to the board.
Commentary
10/2/2007 WoW lots of new things happening lately. I BELIEVE THE SHORTS WILL START COVERING IF/WHEN GLBT ANNOUNCES ITS MOVING EXCHANGES AND CHANGING OF THE CURRENT TRADING PLATFORM FROM PINSHEETS TO?? OCTBB ETC.
10/9/2007 Update looks like the first day of the NSS squeeze beginning on the heels of the Oct 15 date. With this volume a massive move is likely into Turkey day. Naked shorted numbers outlined below
10/4/07 ALL shares seem to be owned according to the filings that just came out.
There seem to be no free trading shares available at this point. So hold yours tight. There will probably be many more surprises coming up soon. They have alot to say after 2 years of quiet.
From 1st 10k page 2 after cover sheet released yesterday
As of July 26, 2007, the number of shares outstanding of the Issuer's Common Stock was 12,306,776,155.
As of July 26, 2007 the aggregate number of shares held by non-affiliates was approximately 10,700,000,000.
From 10k released today on page 118 other ownership reported by OAA or ownership by affiliate
Name and Address of Number of
Shares Percentage
Beneficial Owner Beneficially
Owned Outstanding
Ocean Avenue Advisors, LLC 1,614,625,000 13.12 %
2361 Campus Drive, Suite 101
Irvine, California,92612
from first 10k
Total shares available 12,306,776,155
minus shares owned by non affiliates 10,700,000,000
equals 1,606,776,155
minus shares owned by OAA affiliate 1,614,625,000
equals a defecit of -7,848,845
It looks like the total shares are owned and someone accidently bought more than whats available by 7.8 million. We can thank the naked shorts for giving out 7.8 million shares that don't exist.
Either way it seems this company is owned 100% and there are currently no free trading shares available there is actually negative shares available that the NSS'ers will have to return via buying along with the other 2 billion they need to cover via buyins.net report. OCT 15 - December 5th NSS D day
OCTOBER 15 IS NOW HERE. ENFORCEMENT OF GC HAS BEGUN.
No More MR Nice guy Moving all sell orders to much higher prices
Keep this list on your radar we might be showing up soon imo.
OTCBB Eligibility/Delinquency list http://www.otcbb.com/DailyListContent/delistings/OTCBB_Eligibility_Status_Report.pdf
10-27-07--Globalnet shareholder total update and calculation and projection done by this board
So we have only 28 posters reporting a share count at an average of 30,191,985 per holder. We have a total of 851 shareholders per 10k. So if we took the avg 30,166,132 per shareholder times 851 to make a projection or estimate of the total shares held just by us retailers we would come up with 25,693,379,235 this number is an example based on the data we compiled here.
And then you take into consideration that the O/S is only 12.3 billion. We may have a much bigger NSS position than I ever thought possible.
I still remember USXP saying they were shorted 10x their float before the huge run from .0004-.045. We might just be at the tip of the iceburg with our projections imo.
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VERY RECENT UPDATES BELOW[
10/1/2007 Monday 10k for 2003 http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5457178
10/2/2007 Tuesday 10k for 2004
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5457178
10/3/2007 Wednesday PR with company overview
http://biz.yahoo.com/bw/071003/20071003005942.html?.v=1
10/4/2007 Thursday 500k financing enough for something big or to get us through year end and current with filings imo.
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5462018
12/3/2007 8k where Globalnet disposes of another $6+ million in long term debt. http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5576167
12/5/2007 PR where Globalnet recaps all debt payments and restructuring activities. We are near debt free at this point and disposed of $9 mil+ in debt this year alone. http://biz.yahoo.com/bw/071205/20071205005084.html?.v=1
2/7/08 8k http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5704068
4/8/08 8k The Company will use the proceeds for two business purposes. The first is to work toward completing our 2005 audit and the filing of
our 2005 10KSB. Following that, management will work toward completing our 2006 audit. Secondly, the Company will seek business
opportunities in areas outside the telecommunications sector. These may include asset acquisitions and or private companies for consideration
as a reverse merger opportunity.
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5855084
8/12/2008 below is a link to the first buy of a fund in a long time
Globalnet no longer owns GBNE.net the new owner is Next Dimension Partners nextdimensioninc.com/content/partners.html
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