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Hey, I'm serious. You guys have really stuck your necks out with the predictions. I respect that you put it all on the line like that and are now willing to suffer the consequences. It's just sad to see such hard working folks totally lose all credibility in one short week after months and months and months, maybe years of incessant effort and repeated rhetoric.
Nerd, when was the last time you saw this happen with Globetel? Was today an important date in that regard? Things like this can end up being a clear signal of things to come when later viewed in retrospect.
You have acutely selective powers of observation.
Well, nothing awful happened. It's past zero hour. Seems we have a new deadline for disaster set for July 30 or the end of the month, not sure which. Plus what about all the emails, faxes, and threatened lawsuits over the last week and now dead silence?
Our negative vanguard is just like the guy on the street corner with the "End of the World" sign. Every time he misses a date, he makes a new sign. You guys are starting to remind me of Tim Huff now that I think about it!
What is causing this irrational desire to make predictions?! Everyone, pro or con knows what a mud hole that is to walk into. You're killing your credibility trying to be right about this stuff when all anyone has to do is wait and see. What's the urgency?
I ask once again: What's the reasoning behind trying to do the impossible and predict the future?
Well, it would be fitting that on the day and hour that Vern set for his final post, something of significance should transpire. He is integral to the history of Globetel, after all.
Personally, I will let him off the hook of his self imposed deadline if something incredibly wonderful happens prior to 12 noon (meaning money in the bank), but I doubt that some of the other people around here would agree with that.
I also doubt that something like that will actually happen.
Vern ... conspicuously absent from your laundry list of shame is an update on the proceedings in LA. Seems to have melted away from your list like ice on a summer sidewalk. That could be the fate of the rest of the ice in your cooler as well.
Yesterday's pr was of the 'nothing to the bottom line' variety, and yet it had a strong affect on the market. No doubt that effect will fade as it always does. That is an important pattern for Globetel that should not be forgotten.
The part I like is that the new partner has far more going than Uli ever had and in my mind that puts Globetel on firmer ground going forward. They appear to be that all important alternative route that is vital to any strategic plan. If any of the price gain does actually hold, then I feel that could be a contributing factor. So that deserves an 'atta boy' for management's successful efforts in addressing this weakness.
Judging by the products that our new partner currently manufactures, I would say they would have no problemo performing marvelously as a licensed manufacturer of Globetel's proprietary Hotzone technololgy.
It is worth billions, after all, at least that's what Vern said.
So the latest position of the negative vanguard is that in the time period between yesterday when Vern released his blockbuster news about 68 customers (like he's got a trusted insider to give him that info, not!) and today when the PR came out, Globetel put together this deal with a major Israeli military contractor for the sole purpose of deflecting attention away from Vern's killer news???????? Oh wow.
Tell me THAT'S not delusional!
That's right, No Mas is broadband only, no telephone service. Vern does not really know what he is talking about. Or rather his focus is on pressuring the company, not on making intelligent observations. Same with a lot of the rocket scientists on this board.
As to his 'source'. How many people work at GTEM? How many people know the actual number of subscribers? My guess is 6 tops (probably less) who know the figure and they all know who each other is. If one were to leak, the rest would very quickly figure out who leaked it. So I don't believe Vern has a source. IMO he is making it up to goad them into giving an answer. Note the 'if they don't answer it's a confirmation' tactic.
I'm not saying there aren't questions and problems with Globetel, but that doesn't mean that silence is a confirmation of your worst assumption.
Vern, one day down and counting. No plummeting share price.
Any more devastating news? That last batch really didn't do much. Shareholders must not think it is as bad as you want it to be.
Oh we're to find it on our own. Well, everyone is searching high and low and nobody has found anything. Got any clues for the ignorant masses?
Thank you Mt bigsky. Much appreciated. I did not understand to what the header info was attached.
It's a curious set of circumstances we find ourselves in the middle of these days.
We shall see what we shall see.
Things have become really quiet around here ever since the post by mide that this post is a reply to. Anybody know why?
Probably feels that he is not likely to get far with this group of clients and maybe he should be looking for some additional caseload soon because he is going to need it to keep his time card full.
Noticed that also but was reluctant to ask because I basically don't trust anything in the e-mail and don't trust anything that will come as an answer, but the question does need to be asked.
Also the answer was coyly alluded to by Vern earlier in the week so I know that by asking we will be obliged to indulge him in another fan dance as we tease his version of the truth out. I'm just not in the mood.
Supposedly JM came into possession of the units. The strange part is that he would consider the money that he got for the units as compensation for his loan to the company. If it was cash for merchandise transaction, then the loan would still be owed, so this could be showing a flaw in a fabricated story. That is another reason I don't really want to hear Vern's answer as it will no doubt fail to address this apparent incongruity.
Some seem to feel people like us (investors in GTEM) have no right to exist.
Grandpa is an old fashioned guy and he doesn't cotton to freeloaders.
Seems some have a date with him behind the woodshed coming up.
He won't have to tell them to take off their shorts, they're already naked.
What is the expected outcome of that nonsense? Are we supposed to feel sorry for the slings and arrows of outrageous fortune that befall those who have put their money up and not realized a profit? Have been there and have been doing that for years with Globetel.
That JV must be worth billions for these people to start mud wrestling like this. Globetel owns 49% of the JV and it doesn't matter who started it or closed the deal. GTEM owns it and that is that.
What is the first thing any lawyer tells their clients about pending litigation? DON'T TALK ABOUT IT. If there was a case here, it is obliterated by these shaninigans, imo. but I don't think there was, is, or will be a case and this is the equivalent of throwing the pistol after running out of bullets. Maybe time to run if the SEC comes down on this.
Vern, your starting to sound like Darth Vader, or is that Mistress coming back to haunt us?
It's ok, though. The entertainment factor is really gathering some momentum.
Lately you seem overly wrapped up in yourself, however. Compared to earlier days when you preferred to hold shareholders in high esteem.
That's right, it was Marcatel. I couldn't remember. Some people earlier were saying VPN, that wasn't right either.
Hotzone is apparently quite valuable, and it is definitely owned by Globetel. IMO Uli can have lawyers write letters all he wants (if that is what is happening), but it is not going to revert back to him.
That reminds me, Risk, didn't you say that was part of the purpose of the last agreement with Uli? That it was supposed to get Hotzone back to Uli? I think you got that backwards. It is precedent upon Globetel owning it, which Uli acknowledged by signing it, and the terms of default talk about inventory and equipment going to Uli, not rights to Hotzone...which puts it even further into Globetel's possession, imo. In fact that could be the sole reason for Globetel's suit, just to wall that in.
Also the incident where Trimax showed up on the Telmex site, a direct competetor of VPN.
That was default if they did not get permission from Globetel first, which Globetel could not give under their agreement with VPN, imo.
I don't have the timeline, but will delve into it when my timeline allows it.
I think what you're saying is that big law firms don't get hired to go after peanuts. Deep pockets make the juiciest targets. Globetel is supposedly guarding a pile of peanuts, yet it would appear that someone is perceiving them as having deep pockets. That someone is likely in the know more than most, so there is that implied message that something big is brewing.
If people who want to do business get hung up over late payments then neither party ever reaches their goals. It's when one side gives up on their goals that these things can't be worked out. Somebody has given up here, and I don't think it is Globetel, imo.
100% repossession operations are the types of businesses that get technical on late payments. They never expect you to pay for the car (that's not their goal) with your lousy credit and they yank the car back the first second they can, then they keep any money they did get and go find the next one.
I won't argue, it's just that many, many contracts do in reality play out this way. Nobody really likes it, it just happens. Were they paid? yes. on time? no.
also if you pay a week late every time, then you are still hitting the period, just out of phase with the schedule.
There is more going on here than just missing payment dates.
What's the old saw? Possession is 9/10 of the law? Mig has a point, the terms of Uli's latest agreement are predicated on Globetel's ownership of the rights, in my amatuer opinion. They apparently own them and apparently have the paper to prove it.
Also, I'm reading that Globetel has paid, late maybe, but paid. That's another old one. Collect early and pay late.
Another good point is why did he turn over 83 boxes, and who is in possession of them today? (see the 9/10ths thing above)
This is hardball baseball; everybody's trying to survive.
It is ironic that the only difference between your design and the PE's (adopted) design was the signature. However, from the regulator's point of view (the EPA in this case) there was an important difference: there is a documented record of the PE's competence and there is none of yours. Whether you are in fact fully capable of doing the design is not the issue.
It's not about giving proper credit to each and every competent engineer. It's about having a fully documented paper trail so that if the design is ever called into question by anyone, the regulator will be off the hook. They aren't willing to take your word for your competence, even though you proved it to be more than enough to do the job.
You feel it wasn't worth the money and that may be true in the objective sense. However, the PE had to do due diligence in reviewing the design, and while that is easier than starting from scratch, he did have the hours in to do that and of course he now has the liability for it for years to come. So he or she did earn the fee.
For each of these famous people there are unfortunately also less famous examples of individuals who were utterly incompetent and did things like design earthen dams for example, that failed and cost people their lives. Not to take anything away from the great ones, however it is the lowest common denominators that a state is obligated to protect people against, hence licensure laws.
For some of the great ones listed, they lived at a time when the activities they were engaged in did not require licensure. It seems that they would have had no problems knocking off a test of minimum competency. Sure they would have had to study, but they were geniuses. No big deal.
Even today there are firms with non-licensed 'engineers' as CEOs of the their firms. They may have a little trouble leading the licensed guys and gals, and many would never work in such a firm, but these people are doing very well, thank you. However, everything that goes out of their offices bears the stamp of a licensed engineeer.
There are still good engineers and less good engineers, and there is, was, and always will be the prima donnas. I imagine Huff got taken down a knotch or two by the NASA boys. They probably tried it with the k-guys and got blasted. Murch probably has his head screwed on right, just wish we could hear from him once in a while.
My apologies, sorry I had that wrong.
Actually it goes beyond public safety and into public interest. Not only should a transmitter not send out spurious frequencies that step all over the emergency dispatch frequencies for a community, but it should also not interfere with commercial enterprises and warrented products that the public enjoys and purchases.
nerd..it's about public safety. People who are responsible for it should be tested to demonstrate some minimum standard of competency.
Vern said that he was an FAA inspector. He must have demonstrated his competency in some formalized manner.
With design of the strat he would have applied his creative ideas while bringing in the correct engineering specialists to certify compliance with standards. Testing would then have been coordinated with the FAA and other agencies having jurisdiction.
It depends on the job and responsibilities one is seeking. Obviously there are highly intelligent, creative people who never took an engineering exam. Their challenge is to achieve their goals. If they are that smart, they'll find a way. Doing so likely will in some way involve a licensed engineer; if it also involves public safety.
The JV agreement says this:
2.8 GlobeTel may deploy networks in other parts of the world, and this Agreement only applies to the deployment of the networks in Mexico. Nothing herein shall be construed as giving VPN rights to deploy any products similar in a degree of confusion or equal to those of GlobeTel or its affiliates, for rendering exactly the same services as provided herein, without the cooperation of GlobeTel. Nothing herein shall be construed as giving GlobeTel rights to deploy in Mexico any products of GlobeTel or its affiliates (including, but not limited to, Hot Zone technology), except as provided herein, without the cooperation of VPN, unless the business, commercial, corporate or any other kind of relationship between GlobeTel and VPN has definitively and irrevocably come to its end, or in the event that VPN expresses in writing not to have interest in such product, in which case GlobeTel will be entitled to deploy it by itself and/or with any third party. GlobeTel or VPN may not deploy any wireless network in Mexico providing DECT connectivity other than the Project Networks. The parties also expressly agree that the deployment of the Project Networks will be carried out exclusively using VPN’s VOIP infrastructure, or any such other infrastructure as the Board of Directors may decide in a duly Board of Directors’ Meeting.
Uli's agreement says this:
Restriction. GlobeTel will allow Altvater to produce and sell the HotZone Product Line as an authorized reseller. With GlobeTel's permission, Altvater may hold seminars, market, advertise, distribute, making demonstrations and/or pilots of the HotZone Product Line with any party including prospective customers of Altvater. GlobeTel shall approve any marketing materials used by Altvater with regard to the HotZone Product Line prior to their distribution.
***
Under the JV agreement with VPN, Globetel could not have given permission to Trimax to market to Marcatel, which Trimax must have under its agreement with Globetel. This may be why Trimax stripped Globetel from its website. Uli may have taken the position that he is not marketing Globetel's Hotzone line, but of course Globetel probably would not agree with that.
I think it is possible that Vern is being pushed into his gambit while behind the scenes someone else is negotiating another angle, like a buyout.
Vern could be acting in 'good faith', but as a pawn for somebody.
rwehapi2003...nice find thanks (I think). This could be a way of splitting the pie as you said, however that would also mean splitting Uli's production capacity while servicing both groups at once. That could have caused him to fall behind on his commitment to Globetel, not to mention helping the competition while putting a big hurt on the true owner's of the technology. Grabbing back the test equipment and putting a stop to it would be the only answer. He was authorized to market independently, but not in Mexico.
Would this be behind hostile efforts to buy out Globetel? Not that we have confirmation of real one, just wondering.
This possibility is recurring to me so I'll post it fwiw, then I have to go out.
Is there a cabal of outsiders / former insiders, for whom Vern is the designated message board mouthpiece, who wish to buy out Globetel on the threat of BK and the knowledge that there is something good worth buying while imagining the K guys may be weakening and wanting out (not that they actually are / do, mind you)? It seems implicit in Vern's ostensible offer of buyout after bk (which strategy is rife with potholes), without revealing the partners as an entity. So it comes out as a bk action when it is an attempt at negotiating a sellout behind the scenes?
Or something along those lines. all speculation.
vern.."I actually have a plan in place..."
this is making a little more sense now. May we take this to mean that your recent vociferousness is the manifestation of an ulterior motive that is intended to benefit shareholders at a time further out while ostensibly being negative on the company in the meantime?
I like the decisive action by the new management. Some of the posters here said Huff should have told the Russians to stuff it after they missed the first payment at the end of January. Just close the door and walk away. There isn't time to waste if you have a going concern. Have your alternatives ready and use 'em if you have to in order to keep things moving.
Apparaently the market likes something too. Maybe they think that there must be something of value being fought over here and that GTEM has the upper hand.
Nando.. those companies have to do with the licensing of wimax technology for use in the oem's products. Sort of like an Intel chip in your PC. The manufacturer of the motherboard is licensed by Intel to use the chip and market a product that is designed around that chip.
Sam..3 months equals 6 paymants at the rate of 2 payments per month.
So what is the diabolical reasoning for sueing for return of the test equipment if they know they missed 6 payments and the agreement clearly states that Trimax owns it after default on 2 payments?
and why didn't Trimax release the information on default after one month instead of waiting for 3 months? Just being nice after they got flipped out of the company and everybody there or formerly there was already angry at Globetel?
Also Trimax' idea of payment under the terms of the contract could be different than Globetel's, meaning that Globetel could have payed but Trimax is taking the position that more is owed than Globetel understands is owed.
Plenty isn't known and what is known doesn't add up. all imo.
It is likely that the extended range that they are getting out of the backhaul links is the result of high gain directional antennas. These would not be appropriate for the terminal units located in the neighborhoods themselves. Omnidirectional or less directional antennas would be more likely used, which in turn would reduce their range.
Please review my logic here:
Some suggest that the lawsuit filed by GTEM against ULI was because GTEM didn't make the bi-monthly payments which put them in breech of contract. However, given the clear terms of the agreement, which say test equipment can be kept by ULI in that precise situation, why would GTEM make such a seemingly futile move? I don't know the ins and outs of legal landscapes but it seems dumb on the face of it. Also, if they can't make the next payment, shouldn't they just give it up and go BK? (but they're not doing that)
If that is not the reason, then it would need to be because ULI did not deliver, no? If so, then since they are trying to take away his ability to ever deliver, they must have an alternative ready to go. As an aside if this last one is true, then the theory is disproven as put forward by some that assets are being transferred in some underhanded scheme.
Does any of this constitute a material event? The agreement did, so does breech of it by either party qualify also?
This action seems like it is at the root of the hornets' nest that has been riled up lately. The hornets seem to want to squeeze cash out of this cash strapped company. Could they be smelling a new infusion on the horizon? Maybe in the form of some meaningful financials or something else perhaps?
You're right, I was mistaken about the grace period. My memory twisted it up with the part that talks about a default by Globetel that will occur after two consecutive missed payments (actually one month of missed payments by Globetel). Sorry about that. Should have gone back and read it.
They are definately shooting bullets though, and yes, bypassing the arbitration shows that.